US jobless rate below 7% in October

06 November 2020

 

Summary: October non-farm payrolls increase by over 600,000; jobless rate drops considerably again despite higher participation rate; “a good set of numbers”; stimulus package “less likely” in final months of Trump Administration; employment-to-population ratio up for sixth consecutive month; underemployment rate down again, still in low-teens; long-term unemployment continues rise.   The US economy ceased producing jobs in net terms as infection controls began to be implemented in March. The...

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