Skip to comments.Forward? Number of Unemployed Increases By 170k Offsetting 171k Increase in Non Farm Payrolls
Posted on 11/02/2012 7:00:54 AM PDT by whitedog57
According to the Bureau of Labor Statistics, the unemployment rate rose from 7.8% to 7.9% for October.
The number of unemployed in the US rose from 12,088,000 in September to 12,258,000 in October. An increase of 170,000. That almost perfectly offsets the increase in non farm payrolls (+171,000).
And the duration of unemployment 27 weeks and over rose to 40.6%.
The employment to population ratio rose in October to 58.8, but still remains at a level near the beginning of the Reagan Recovery.
The unemployment rate among blacks/African Americans rose to 14.30%. There will be no joy in the Black/African American community over this pitiful unemployment rate.
On the wage front, changes in hourly earnings rose 1.6% (Year over Year), far below the Bush years. In fact, the rate fell in 2009 and has remained in the doldrums since.
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Looks to me like 170,000 people just jumped back into the job market in anticipation of a Romney win.