Tuesday, November 9, 2010

October jobs report is slightly positive

The Bureau of Labor Statistics released the October unemployment report on November 5th, 2010. The report said the United States unemployment rate stayed at 9.6%. Non farm payroll increase by a total of 151,000 jobs.

The unemployment rate for all groups stood at 9.6%. For Blacks it was 15.7%, Hispanics had a rate of 12.6% and the White rate was 8.8%. The average unemployment duration increased from 33.3 weeks to 33.9 weeks. The number of people who were jobless for 27 weeks or more was 6.2 million. The number people working part time involuntarily was 9.2 million. This group would work full time if they could.

The October jobs report shows almost no change in all major categories. The small positive note was the increase in non farm payrolls of 151,000 jobs. Private service jobs increased by 154,000. Retail was up by 28K, Business Services increase 46K, 35,000 of which were temp help. Health was up 34K and education was up 19K. Government drop 8K (local government -7,000).

In other notable categories construction added on 5,000 jobs, Manufacturing dropped 7K jobs, and computer systems design added 7,500.

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