Good News on Employment
Nonfarm payroll employment increased by 337,000 in October per the latest report report from BLS.
The household survey showed a 289,000 increase in employment but also a 367,000 in the reported civilian labor force. So despite the good news in employment, the recorded unemployment rate rose to 5.5%.
Looking at employment over the past 12 months, it has increased by about 2 million. Now if we can only sustain employment increases equal to 2 million new jobs per year for the next four years, we might eventually be closer to full employment.