Friday, November 5, 2010

U.S. (Un)Employment in October

The national unemployment rate was 9.6 percent in October (seasonally adjusted) -- the same as September. The rate has been essentially unchanged for most of the year. Here's how the unemployment rate has changed over the last few years:

Total nonfarm employment increased by 919,000 from September to October. Employment typically increases about 770,000 this time of year, so the growth was more than seasonally expected. This is good news; a positive sign as our economy continues to recover.

More than half of the growth (510,000 jobs) came from the public sector, as educational institutions at the state and local level added jobs for the start of the school year. The increases were in-line with seasonal expectations.

The private sector added the other 409,000 jobs. Sources of growth were mixed. For details of the changes by industry, please see the full press release from the Bureau of Labor Statistics.

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