Latest report shows unemployment rate remains flat - Trade Only Today

Latest report shows unemployment rate remains flat

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In September, non-farm payroll employment climbed by 103,000 in September, and the unemployment rate held at 9.1 percent, the U.S. Bureau of Labor Statistics reported today.

The increase in employment partially reflected the return to payrolls of about 45,000 telecommunications
workers who had been on strike in August. In September, job gains occurred in professional and business services, health care, and construction. Government employment continued to trend down.

Since April, the unemployment rate has held in a narrow range from 9.0 to 9.2 percent.

The number of unemployed people remained at 14.0 million, and was essentially unchanged in September, the bureau said. The number of long-term unemployed (those jobless for 27 weeks or more) was 6.2 million in September. These individuals accounted for 44.6 percent of the unemployed.

In September, about 2.5 million people were marginally attached to the labor force, about the same as a year earlier. These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months.

They were not counted as unemployed because they had not searched for work in the four weeks preceding the survey.

Click here for the full report.

The Wall Street Journal published a story today on the government’s broader measure of unemployment, known as the “U-6,” which rose to 16.5 percent, the highest rate this year.

Click here for the full story.

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