Jobs Report Lays an Egg

Jobs Report Lays an Egg

The October Jobs Report was a miss on many levels with fewer jobs created than expected with large downward revisions for August and September. The Unemployment Rate inched higher, private payrolls were below expectations while government jobs made up a third of the gain. Weakness was seen in the manufacturing sector while the the Household Survey saw a huge decline in workers. 

The takeaway... the sour report could finally put an end to the Federal Reserve's rate hike cycle and it may signal that heated home borrowing costs could begin to cool off.


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