The Non Farm Payrolls report resulted in a loss of 190,000 jobs in October. The figure came out above market expectations of around 175,000 and the big shock came with the unemployment rate that is not 10.2 percent, the hightest in 26 years. The September figure was revised down from a loss of 263,000 jobs to 219,000 and the only bright spot in the report.
The economists are already forecasting worse figures going into November and December although it remains to be if seasonal hiring acts as a stop gap to the job losses.
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