This morning's jobs report produced moderate gains, with 161,000 jobs created; however, they did not live up to what the market had expected. The market had anticipated 175,000 jobs.
Prior months' revisions offset the October shortfall: August jobs creation was revised up by 9,000 jobs to 176,000 and September was revised up by 35,000 jobs to 191,000. With these revisions, employment gains in August and September combined were 44,000 more than previously reported. Over the past 3 months, job gains have averaged 176,000 per month.
Looking at the detail in our exclusive chart of average wages to job creation, you can see that the greatest jobs gains were in those categories of Education and Health Services, which also include the Health and Social Services Assistance category, also illustrated.
