October Unemployment Rate Drops to 9%


The October unemployment rate decreased .1% to 9%. This is the lowest the unemployment rate has been since April 2011. The civilian employment-population ratio increased .1% to 58.4% while the labor force participation rate held steady at 64.2%. Nonfarm payroll increased 80,000 jobs to 131,516,000. This increase is half the increase seen in September, though it’s been climbing since September 2010. The BLS payroll figure is 30,000 less than the ADP’s October report. The median duration of unemployment decreased 6.3% to 20.8 weeks. The best news of the report is that the number of civilians unemployed for 27 weeks and over decreased 5.9% to 5.9 million.

For more information, please see our Employment Report.

–From the BLS and the St.Louis Federal Reserve, reported by Daniel Saniski


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