We begin with the US where the September private payrolls came in roughly in line with expectations (167k vs. 170k expected). Here are several other developments in the nation’s labor markets.
1. Labor force participation continues to stabilize.
Moreover, the number of unemployed Americans dropping out of the workforce has declined to pre-recession levels.
2. The declines in underemployment, however, have stalled.
3. The manufacturing sector continues to shed jobs.
4. Wage growth, especially for non-supervisory employees, is improving.
Some of this improvement is coming from the construction sector, where homebuilders increasingly complain about troubles recruiting skilled workers.NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.