New Employment Situation Report is out. Not bad, given the last couple of months. In October, total nonfarm payroll employment increased by 271,000 and the unemployment rate is at 5%.
The employment-population ratio, which seemed to start to inch up last year, however, now looks again stagnant. Even though it seems markets are happy with job creation above 200k per month, we need something more like 400 for a healthy recovery, and to bring the employment-population ratio up. Earnings have inched up a bit.
The danger here is that Yellen and the FOMC use this to really start hiking interest rates by December, after all she says she thinks "the economy is performing well." The question of course is for whom it's performing well.