Job seekers meet with a recruiter during a HIREvent job fair at the Hotel Whitcomb on July 10, 2012 in San Francisco, California.
Job seekers meet with a recruiter during a HIREvent job fair at the Hotel Whitcomb on July 10, 2012 in San Francisco, California. - 

With Wall Street back open, corporate earnings have resumed with gusto. As far as government data, initial claims for unemployment insurance dropped last week and productivity increased modestly.

The payroll processor ADP says U.S. companies added 158,000 jobs in October, a pretty strong posting. On the other hand, according to consulting firm Challenger Gray & Christmas,  job cuts surged last month.

Diane Swonk, chief economist at Mesirow Financial, shares her take on these conflicting indicators, productivity, and what's ahead for the job market.

Follow Jeff Horwich at @jeffhorwich