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The US job market in October was stronger than expected. The market was expected to slow job growth in the context of the re-expansion of the new corona virus and indecisive additional economic measures.
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The number of permanently unemployed, excluding layoffs, remains almost unchanged at 3.7 million. After a significant increase for the second month in a row to the previous month, there were bright signs.
However, employment is still below the pre-new Corona epidemic level at 10 million people. The number of infected people is increasing at a record rate this week and the recruitment momentum may not continue.
The number of long-term unemployed who have been looking for work for more than 27 weeks has risen from 1.15 million to 3.56 million, the highest level since 2014. It was suggested that severity is increasing below the surface of the labor market .
Jennifer Lee, senior economist at BMO Capital Markets, said: “It is difficult to look ahead for months or weeks because the number of infected people is increasing. The future is still cloudy.” “However, the fact that the unemployment rate has fallen so much is extremely encouraging,” he said.
The number of private employees has accelerated, increasing by 906,000. The number increased by 892,000 last month. Increased in retail, transportation / warehouse, professional / commercial services, and construction industries.
See the table for details on the statistics.
Original title:US job market expands earnings, unemployment rate drops to 6.9% （抜 粋）
(Add and update statistics details)
