US: Labour market stabilization is in the offing |
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Payroll employment fell 190,000 in October. This was slightly worse than consensus expectations (-175,000) but keep in mind that the level of employment was revised up a cumulative 91,000 over the two previous months. The unemployment rate hit 10.2% in October, the highest level since April 1983. This is the most disappointing part of the report that will certainly gather most of the attention from market participants. Is there no light at the tunnel for job creation in the U.S.? We have been
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