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!
The Report
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.
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Hurricane Sandy
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.
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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
via Employment Situation Summary.
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