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HomeStock market newsBreaking stock market news on November 6, 2020

Breaking stock market news on November 6, 2020

Stock market news

Breaking stock market news. “October jobs report: Economy added 638,000 jobs as unemployment rate fell to 6.9%.

The Labor Department’s October jobs report offered fresh signs of a slowing economic recovery in the U.S., with the number of jobs added back and the pace of improvement in the unemployment rate each decelerating considerably from earlier this year. Still, the increase in non-farm payrolls and change in the unemployment rate were each better than economists feared for the month.

The Department of Labor released its monthly non-farm payrolls report Friday at 8:30 a.m. ET. Here were the main results from the report, compared to consensus estimates compiled by Bloomberg:

Non-farm payrolls: 638,000 vs. +580,000 expected and a revised +672,000 in September

Unemployment rate: 6.9% vs. 7.6% expected and 7.9% in September

Average hourly earnings, month-over-month: 0.1% vs. 0.2% expected and 0.1% in September

Average hourly earning, year-over-year: 4.5% vs. 4.5% expected and a revised 4.6% in September

Friday’s jobs report also saw revisions to the last couple months’ worth of payrolls. August employment was upwardly revised to see a gain of 4,000 jobs to 1.493 million, and the change for September was revised up by 11,000 to 672,000.”

Stock market data: Yahoo Finance

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