Economists React To October Jobs Report On Twitter
The U.S. added 261,000 jobs in October, a bounce-back from September’s hurricane-impacted slowdown, and the country’s unemployment rate dropped to 4.1%, the U.S. Bureau of Labor Statistics reported Friday.
Upward revisions to previous jobs reports make October the 85th consecutive month of job growth.
Here’s how some economists reacted on Twitter.
Solid payroll gains, even adj for hurricanes. But mixed report. Unemp down due to labor force decline and once again, bupkis for wg growth.— Jared Bernstein (@econjared) November 3, 2017
Big rebound in leisure & hospitality jobs in October, reversing Sept drop. Would have expected bigger jump in construction, though. pic.twitter.com/ZNDvZMx2hy— Jed Kolko (@JedKolko) November 3, 2017
The prime-age employment-to-population ratio is still far below levels expected in a stronger economy. pic.twitter.com/jKprCTv6Uj— Elise Gould (@eliselgould) November 3, 2017
Labor force participation fell to 62.7%, lower than the 62.8% a year ago. This isn't a rogue month--it's roughly been at or under 63% since 2013.— Betsey Stevenson (@BetseyStevenson) November 3, 2017
Prime-age EPOP still 1.4 ppts below where it was in early 2007. That represents 1.8 million prime age workers essentially on the sidelines.— Heidi Shierholz (@hshierholz) November 3, 2017
All told, it’s clear that we are still not at full employment, and the Federal Reserve should keep interest rates low until we are.— Elise Gould (@eliselgould) November 3, 2017
Janet Yellen will be missed. Agree or disagree on tactics, she was an excellent @federalreserve Chair by any standard.— Lawrence H. Summers (@LHSummers) November 3, 2017