October Unemployment Unchanged at 9.6%

The good news is that nonfarm payrolls rose by 151,000. Private sector jobs increased by 159,000. Although there are still 14.8 million Americans who are unemployed, this was a better-than-expected report:

The job total numbers were revised higher for August and September. For August, instead of a loss of 57,000 jobs, it’s now 1,000. September’s loss was revised from 95,000 to 41,000.

Over the last 10 years, the U.S. labor market has grown by nearly 11 million, yet the number of jobs has increased by 1.7 million. That’s like an 84% unemployment rate of new workers.

Posted by on November 5th, 2010 at 8:32 am


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