Early November Economic Update

Non-farm Payrolls rose by 261,000 new jobs versus the 300,000 expected while August and September were revised higher by a total of 90,000. The Unemployment Rate fell to 4.1%, the lowest since 2006. Total unemployed, or the U6 number, fell to 7.9%, also the lowest since 2006. On Thursday, President Trump nominated current Fed Governor Jerome Powell to become the 16th chairman of the U.S. Federal Reserve.