The number of unemployed and the unemployment rate increase. But employment too. So, this is a sign that participation is going up, a generally good sign. Since July, the economy has created an average of 173,000 jobs a month, up from 67,000 a month from April through June. But still, the proportion of american in employment is at almost 40-years low.
So, there is so much to be done that this month report shouldn’t make a mandate. Better keep an eye on what the candidate say they will do!
Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today.
Employment rose in professional and business services, health care, and retail trade.
Hurricane Sandy had no discernable effect on the employment and unemployment data for October. Household survey data collection was completed before the |storm, and establishment survey data collection rates were within normal ranges |nationally and for the affected areas. For information on how unusually severe weather can affect the employment and hours estimates.
Household Survey Data
Both the unemployment rate (7.9 percent) and the number of unemployed persons (12.3 million) were essentially unchanged in October, following declines in September.
Choosen excerpts by JMM from
In the economy-focused presidential campaign, the two candidates and their teams have scarcely mentioned what economists describe as not just one of the labor market’s most pressing problems, but the entire country’s: long-term unemployment. Nearly five million Americans out of work for more than six months are left to wonder what kind of help might … Continue reading »
The economy may have become the single most important issue in modern-day politics. Since the day President Clinton uttered the words, “It’s the economy stupid,” the economy seems to have taken center stage as it pertains to election results. Moreover, for a variety of reasons, I’ve found an interesting dynamic emerging in recent years. Because … Continue reading »
Manufacturing Jobs Across Presidential Administrations : gains during Democratic terms, significant losses under the Republican
State-level manufacturing job growth has varied across the 16 presidential administrations since 1948, with significant gains in most states across the seven Democratic terms and significant losses under the nine Republican, according to The Manufacturing Jobs Score, 1949-2011, a new analysis of official government data by the Keystone Research Center (KRC) and Iowa Policy Project … Continue reading »
After almost one full term of Obama’s policies, the unemployment rate is still above 8% according to figures released on June 6, 2012. The number of unemployed women ages 16 and over in the civilian work force increased by 780,000 from January 2009. The economy created only 80,000 jobs in June while 85,000 workers exited … Continue reading »
Three times today I’ve been asked on media outlets about the likely effect on the presidential election of Friday’s jobs report, depending on what the Bureau of Labor Statistics announces. Unfortunately, the BLS report is likely to sway some voters — and therefore have an impact on this tight race. But it shouldn’t. The report … Continue reading »