Nonfarm payroll employment was essentially unchanged in October, adding only 12,000 jobs. The unemployment rate was unchanged at 4.1%.
News in end use
US Mortgage Rates Move Higher for the Fifth Consecutive Week
The 30-year fixed-rate mortgage averaged 6.72%, up from last week when it averaged 6.54%, Freddie Mac reported.
US Bureau of Economic Analysis Reports Personal Income and Outlays for September
Personal income increased 0.3%; disposable personal income increased 0.3%; and personal consumption expenditures increased 0.5%.
Mortgage Application Payments Decline Further in September
The MBA Purchase Applications Payment Index decreased 0.8% to a reading of 157.9 in September, down from 159.2 in August.
Canadian GDP Unchanged in August, but Advance September Estimate Shows Increase
Canadian real GDP was essentially unchanged in August, following a 0.1% increase in July.
Private Sector Job Cuts Ease in October
US-based employers announced 55,597 job cuts in October, a 23.7% decrease from the 72,821 cuts announced in September, CG&C reported.
US Weekly Initial Jobless Claims Continue to Decline in the Week Ending October 26th
The advance figure for seasonally adjusted initial unemployment claims was 216,000, a decrease of 12,000 from the previous week’s revised level.
US Real GDP Increases at an Annual Rate of 2.8% in Q3, BEA Reports in Its “Advance” Estimate
Real GDP increased at an annual rate of 2.8% in Q3, following an increase of 3.0% in Q2.
US Pending Home Sales Increase 7.4% in September
The NAR Pending Homes Sales Index increased 7.4% month-over-month to a reading of 75.8 in September.
US Construction Employment Softens in September
The number of open construction sector jobs fell from a revised 328,000 in August to a softer 288,000 in September, NAHB reported.