Over 2 Million Jobs Added in October

• The October Jobs Report was much stronger than expected. Here are the details--
• According to the business survey done by modeling showed that 638k jobs were added last month. I wonder if the people doing these models are the same people who do our political polls?
• Whereas the household survey that is completed after making 60k phone calls to households showed job gains of 2.24 million and the unemployment rate dropped to 6.9% from 7.9%.
• These job gains came for people with less than a college degree.
• The labor force also increased by 724k which is a sign that more people believe jobs are available again.
• The U6 Unemployment Rate dropped to 12.1% last month from 12.8% in September.
• Average weekly earnings are up 5.7% year over year! This is another reason why people can afford homes even when prices are increasing by over 10%.