The Non Farm Payrolls report resulted in a loss of 190,000 jobs in October. The figure came out above market expectations of around 175,000 and the big shock came with the unemployment rate that is not 10.2 percent, the hightest in 26 years. The September figure was revised down from a loss of 263,000 jobs to 219,000 and the only bright spot in the report.
The economists are already forecasting worse figures going into November and December although it remains to be if seasonal hiring acts as a stop gap to the job losses.
For more US Employment and other economic indicators try FXEconostats
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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