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US DATA: Rare Improvement In Labor Differential

US DATA
USEM BulletGlobalEmerging Market NewsData BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsRegionNorth America
  • Within the surprisingly strong Conference Board consumer survey for October (confidence at 108.7 vs cons 99.5 after 99.2), the labor differential improved for the first time in eight months.
  • The differential increased to 18.3 from an almost unrevised 12.7 in September (initial 12.6) which had marked the lowest since Mar 2021.
  • It technically leaves it at the highest since June although it’s still on the low side historically (for instance, averaged 33 in 2019) and offers trend upside risk to the unemployment rate of 4.05% in September.
  • Jobs plentiful 35.1 after an upward revised 31.3 (highest since Jun) and jobs hard to get 16.8 after an upward revised 18.6% (fully reverses prior increase but only back to Aug).
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  • Within the surprisingly strong Conference Board consumer survey for October (confidence at 108.7 vs cons 99.5 after 99.2), the labor differential improved for the first time in eight months.
  • The differential increased to 18.3 from an almost unrevised 12.7 in September (initial 12.6) which had marked the lowest since Mar 2021.
  • It technically leaves it at the highest since June although it’s still on the low side historically (for instance, averaged 33 in 2019) and offers trend upside risk to the unemployment rate of 4.05% in September.
  • Jobs plentiful 35.1 after an upward revised 31.3 (highest since Jun) and jobs hard to get 16.8 after an upward revised 18.6% (fully reverses prior increase but only back to Aug).