Unemployment Rate Rises To 9.8%, 15.1 Million Americans Jobless
Washington, DC, United States (AHN) – Jobs recovery in the United States stalled in November with unemployment rising to 9.8 percent from 9.6 percent in October while the economy created only 39,000 jobs, Labor Department officials said Friday in the monthly report.
That jump in the unemployment rate came after it held steady at 9.6 percent for three months. The jobless rate has now hovered above 9 percent for 19 consecutive months, the longest period on record since 1948.
The percentage of working-age Americans who have either a part- or full-time job held steady at 64.5 percent.
Some 15.1 million Americans are unemployed. Another 2.5 million jobless Americans were not counted as unemployed; these are people who want and need a job and who have looked for work within the past 12 months, but were not counted as unemployed because they had not looked for work in the past four weeks because of school attendance or family responsibilities, according to the Bureau of Labor Department Statistics.
The number of discouraged workers who have stopped looking for work because they do not believe a job exists for them increased by 141,000 from a year earlier.
An additional 9 million Americans are involuntarily working part-time because their hours were cut or they cannot find full-time jobs, according to the Bureau of Labor Department Statistics.
The plunge in job creation is in contrast to October when the economy created 172,000 jobs. Many analysts had expected the economy to create 130,000 or more jobs in November.
However, even that number would not be enough. The economy needs to create from 125,000 to 200,000 jobs per month just to supply people entering the labor market for the first time. Economists say putting people back to work who lost their jobs to the recession will require creating more than 200,000 jobs per month.
Payroll employment has increased by an average of only 86,000 monthly since the December 2009 lows, Commissioner of Bureau of Labor Statistics Keith Hall said in a statement Friday.
Unemployment rates for various groups were:
- Adult men — 10.0 percent
- Adult women — 8.4 percent
- Whites — 8.9 percent
- Hispanics — 13.2 percent
- Blacks — 16.0 percent
- Teenagers — 24.6 percent
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BLS: Employers Added 151,000 Jobs In October
Washington, DC, United States (AHN) – October saw a net rise in non-farm employment in the United States as employers added 151,000 jobs, which was the highest number of new jobs in five months, according to the Bureau of Labor Statistics (BLS).
Nevertheless, it was not enough to affect the continued high unemployment rate of 9.6 percent, which has remained virtually unchanged since May. In addition, 14.8 million people were unemployed in October, a number that did not change significantly from September, according to the BLS.
The number of people who have been jobless for 27 weeks or longer was also little changed at 6.2 million, with 41.8 percent of people who are unemployed having been unemployed for 27 weeks or longer, the BLS said.
Unemployment rates remained unchanged for most groups at 9.7 percent for adult men, 8.1 percent for adult women, 21.1 percent for teenagers, 8.8 percent for whites, 15.7 percent for blacks and 12.6 percent for Hispanics.
Participation in the labor market for working-age Americans who were employed with either a part- or full-time job edged downward to 64.5 percent.
The number of people involuntarily working part-time because their hours had been cut or they were unable to find full-time work fell by 318,000 from September to 9.2 million for October.
The economy has added 874,000 non-farm jobs since December 2009. However, the economy needs to add from 120,000 to 200,000 jobs per month to accommodate new workers entering the labor force for the first time.
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