October Job Report Hideous: 6.5% Unemployment, -240,000 Jobs

Job report much worse than printed consensus. 240,000 job losses versus 200,000 expected. Last two months also revised sharply downward. Unemployment rate now 6.5%–already higher than peak after last recession.

Manufacturing and construction hammered, obviously.  Only growth in healthcare and education.

See Also: In Case You’re Feeling Good About Today’s 6% Unemployment Rate…

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