Unemployment down again
Total nonfarm employment boomed back by another 531,000 in the U.S. for October, beating market expectations of 450,000.
The figures for August and September combined were also revised up by a further 235,000.
Labour supply is still stuck well below pre-COVID levels, and the unemployment rate fell to 4.6 per cent.
Underemployment also fell from 8.5 per cent to 8.3 per cent.
Biden's $1.2 trillion infrastructure package is being voted through, and Americans are going to the gym, cinema, and restaurants again.
What a recovery - will we ever see anything like this again?
Hard to imagine!
The U.S. housing market has been recording scorching gains, but it seems likely that the end of ultra-easy money is nigh.
