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Employment <br />-400 <br />-200 <br />0 <br />200 <br />400 <br />600 <br />800 <br />1,000 <br />MOM Change In Thousands (000's)Nonfarm Payroll (000's) <br />Non-farm Payroll (000's) <br />3 month average (000's) <br />0.0% <br />5.0% <br />10.0% <br />15.0% <br />20.0% <br />25.0% <br />Unemployment Rate <br />Underemployment Rate (U6) <br />Unemployment Rate (U3)Rate (%)The U.S.economy added 150,000 jobs in October, versus consensus expectations of 180,000,and the last two months were revised <br />downward by 101,000 jobs.The largest gains came from education and health services,while the United Auto Workers strike contributed <br />to the softer results for the month. The trajectory of job creation is moderating,with the three-month moving average payrolls at 204,000 <br />and the six-month moving average at 206,000.The unemployment rate ticked up 0.1%to 3.9%,and the laborparticipation rate fell slightly <br />to 62.7%.The U-6 underemployment rate,which includes those who are marginally attached to the labor force and employed part time for <br />economic reasons rose to 7.2%from 7.0%last month.Average hourly earnings declined to 4.1%year-over-year in October from 4.3%in <br />September. Employment remains strong by historical standards, but data are trending toward a less robust labor market outlook. <br />Source: US Department of Labor Source: US Department of Labor <br />4