The latest numbers are out and the experts are…drumroll please…”surprised.” From Reuters:
Employers added a surprisingly strong 166,000 new non-farm jobs in October, well ahead of forecasts in an early sign that consumer incomes may be better supported than thought heading into the fourth quarter, according to a government report on Friday.
The Labor Department said the national unemployment rate in October was unchanged at 4.7 percent. It revised September hiring to show that 96,000 jobs were added instead of 110,000 it reported a month ago and said 93,000 new jobs in August instead of 89,000 that it previously reported.
Don’t buy the hype about a bad economy. The 166,000 number will be revised over the next month or two, but the main point is that the hiring market remains strong.
Trust me, as a company that spends much of the day sourcing candidates, this market is strong which puts the candidate in a stronger position. I almost think a bit of a cool down would help us in our sourcing activities that have become extended in this roaring economy.