Unemployment rate up to 9.8 percent - Trade Only Today

Unemployment rate up to 9.8 percent

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The unemployment rate rose to 9.8 percent in November as the economy added 39,000 jobs, the U.S. Bureau of Labor Statistics reported today.

The rate had stood at 9.6 percent for the last three months. The economy added 172,000 jobs in October.

The bureau said 15.1 million people were unemployed in November.

Among the unemployed, the number of job losers and people who completed temporary jobs rose by 390,000, to 9.5 million, in November. The number of long-term unemployed (those jobless for 27 weeks and longer) was little changed, at 6.3 million, and accounted for 41.9 percent of the unemployed.

About 2.5 million people were marginally attached to the labor force in November, up from 2.3 million a year earlier. These people 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.

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