October Jobs Report Shows Labor Market at Strongest Point Since Recession

Indeed chief economist Jed Kolko reports that this month's job report show the strongest growth since the recession ended, and with room still to grow.

The October jobs report shows that the labor market is clearly at its strongest point since the recession and still strengthening. While job growth of 161,000 was slightly below consensus and the prior-year average, it was more than strong enough to keep the labor market improving, and revisions to previous months were solidly up. And with hourly earnings up 2.8% year-over-year, fastest since the crisis, workers are sharing the benefits. If you wanted to show that the economy is still getting better for the typical voter, this report gives you what you needed.

Earlier this morning, I shared the biggest takeaways from the report on Twitter. First, there were three pieces of good news:

 

 

Each of these was a post-recession record:

 

Diving into where these gains came from, we learned the industries and demographic groups that gained the most:

 

To keep up with more jobs day news, follow me @JedKolko and @Indeed.