October Jobs Report Marks 61 Consecutive Months Of Gains

Ryan Detrick

The October jobs report surprised nearly everyone, coming in at a very impressive 271,000 jobs created last month. Considering it was also the best month for the S&P 500 in four years, October 2015 was quite the month.

Here are some current and historical stats for you.

The October jobs report posted the best monthly jobs gain of the year and the most since December 2014. Also, jobs have been positive a record 61 straight months.

us jobs created by month 1948 to 2015_october jobs report

The unemployment rate was 5.0%, the lowest since 2008.

historical unemployment rate chart_october jobs report

Since the Great Recession started in February 2008, more than 4.3 million jobs have been created. At the depths of the crisis, nearly nine million had been lost.

jobs created since the great recession chart

2015 has seen an average jobs gain of 206,200 per month. This is the second best year going back 16 years.

average jobs created by year history chart

Going back 25 years, the October jobs report marks the second best month of jobs creation. In other words, today’s strength shouldn’t be a shock.

jobs created per month over past 25 years 1990-2015

The participation rate was 62.4%, the lowest since the 1977. I’m not an economist, but many point to this as a major problem in the labor market. It could suggest many are simply giving up looking for a job.

employment participation rate 1948 to 2015 chart

Thanks for reading and have a great weekend.

 

Twitter: @RyanDetrick

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