US DATA: Oct employment data were better than expected as payrolls +151k
(first gain since May when Census hired) and Sept-Aug were revised up a
total of +110k. Pvt AHE +7c for +2.1% YOY and hours gained. Unemployment
-a lagging indicator-was stuck at 9.6% as unemployed rose & labor force
fell. Pvt payrolls +159k vs +107k(r) in Sept and a prior 6m avg of +64k,
so there is a clean pickup tho not yet to a strong economy. Oct payroll
composition: mfg -7k, construction +5k, retail +27.9k, healthcare +24k,
ed services +19.2k, temp +34.9k. Arts -26k but food +21k. Govt was -8k
as local govt ex ed -14.2k. Bottom line: shows strength in pvt sector.
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Details: Payrolls/Prior AHE,yoy Agg Hrs Civ Unempl Rt/Unrnd
Oct +151k —- +2.1% 100.1 9.6% (9.6443%)
Sep -41k -95k +2.1% 99.7r 9.6% (9.5791%)
Aug -1k -57k —– 99.6r 9.6% (9.6425%)
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