Friday, November 2, 2012

Unemployment rate up 0.1% in October, U6 unemployment down 0.1%

Credit: Calculated Risk blog
Fresh electrons from the Bureau of Labor Statistics: the unemployment rate in October was up slightly to 7.9%, from 7.8% in September. The broader U6 measurement of unemployment was down 0.1% to 14.6%.

Chemical manufacturing payrolls increased by 1,600 jobs to 802,700 for the sector.

The news will be about the total nonfarm payroll number, with an increase of 171,000 jobs for October. Less discussed, but equally significant are the upward revisions of ~80,000 jobs for August and September.

There are 12 million people who are unemployed -- best wishes to them.

Thanks, as always, to Calculated Risk for the graph. 

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