Unemployment rate stagnant at 9.6%
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The Bureau of Labor Statistics today released its monthly report on the country’s employment situation in October. Here are some of the high/low lights:
Nonfarm payroll employment increased by 151,000 in October, and the unemployment rate was unchanged at 9.6 percent. The number of unemployed persons, at 14.8 million, was little changed in October.
The number of long-term unemployed (those jobless for 27 weeks and over) was about unchanged over the month at 6.2 million. In October, 41.8 percent of unemployed persons had been jobless for 27 weeks or more.
The civilian labor force participation rate, decreased to 64.5 percent, a twenty-five year low.
In October, average hourly earnings of all employees on private nonfarm payrolls increased by 5 cents to $22.73. Over the past 12 months, average hourly earnings have increased by 1.7 percent.