Overall:
After a run of weak economic numbers in late October and early November, many market watchers expressed fears about rapidly cooling U.S. growth. Those fears appear to have been brought up short by the gover nment's employment report for October, released on Nov. 3.
While the headline nonfarm payrolls figure -- job growth of 92,000 on the month, well below economists' median forecast of 125,000 -- looked lackluster, massive revisions to payrolls in the two prior months showed continued strength in the labor market: September job growth was nearly tripled, to 148,000 from the 51,000 previously reported, and August payrolls were revised to a gain of 230,000 from 188,000.
Indeed, the news of sizable upward revisions to August and September payrolls, alongside soaring wages, a rising workweek, and a robust civilian employment up-trend, all suggest that the market's concerns about a sluggish fourth quarter for the U.S. economy were overblown. - from MSNBC.COM
The Securities Industry:
SI employment rebounded in October from earlier job losses that were revised even further downward in November's employment report. Our industry added 4,700 new jobs erasing September's weakness and bring us back to within reach of the yearly high levels obtained in April.
Nevertheless, 2006 is turning out to be a slow employment growth year for the business, after several years of post-911 recovery, starting 3 years ago. Current rates show just under a 1.5% growth rate year-to-date
