US DATA: Sep employment report was on the strong side, with payrolls
+114k and unemply rate -0.3 pt to 7.8% (labor force & participation up).
For unemploy rate, Part-time for econ reasons jumped 268k NSA but
adjustment turned this into +582k, lowering the unemployment rate to
lowest since Jan’09. AHE +7c to +1.8% YOY and hours rose, suggesting
incomes and production rose. Aug-Jul payrolls rev +86k on net.
Sep payroll composition: mfg -16k, construction +5k, retail +9.4k, temp
-2k, healthcare +43.5k, transport/wharehouse +17.1k (transit +9.2k in
back to school), finance +13k. govt +10k (local -9.2k ex education).
Another not bad report but not yet a breakout, with unemployment high.
Details: Payrolls/Prior Pv AHE,yoy Agg Hrs Civ Unempl Rt/Unrnd
Sep +114k —- +1.8% 103.7 7.8% (7.7955%)
Aug +142k +96k —– 103.6 8.1% (8.1115%)
Jul +181k +141k —– 103.5 8.3% (8.2535%)