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Jobless Recovery Continues In Us

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From Auntie http://www.bbc.co.uk/news/business-11502435

US sees 95,000 jobs lost in September

High unemployment is undermining the US recovery

The US economy shed another 95,000 jobs in September, the fourth in a row that jobs have been lost, according to figures from the Labor Department.

The fall was almost double August's 54,000 job loss number, despite that, the percentage figure for those out of work remains at 9.6%.

Government payrolls fell and private hiring was less than expected.

The news increases expectations that the US Federal Reserve will take further action.

Any moves by the Fed to boost the economy are widely expected to include asset purchases rather than further interest rate cuts.

Private employment increased by 64,000, well below August's pay roll rise of 93,000.

Meanwhile, revisions to data for July and August showed 15,000 more jobs lost than previously reported.

This employment report is the last before mid-term elections in early November

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They will be catching up to the EU soon.*

I wonder what our rate is including those who are never going to lift a finger again (unless the Koalishon change things).


*Euro area unemployment rate 10%

The euro area (EA16) seasonally-adjusted unemployment rate was 10% in July 2010, unchanged compared with June. It was 9.6% in July 2009. The EU27 unemployment rate was 9.6% in July 2010, unchanged compared with June. It was 9.1% in July 2009.

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They have the same problem as us.

The number of persons employed part time for economic reasons (sometimes

referred to as involuntary part-time workers) rose by 612,000 over the

month to 9.5 million. Over the past 2 months, the number of such workers

has increased by 943,000. These individuals were working part time be-

cause their hours had been cut back or because they were unable to find

a full-time job. (See table A-8.)

About 2.5 million persons were marginally attached to the labor force

in September, up from 2.2 million 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 4 weeks preceding the survey.

Among the marginally attached, there were 1.2 million discouraged work-

ers in September, an increase of 503,000 from a year earlier. (The data

are not seasonally adjusted.) Discouraged workers are persons not cur-

rently looking for work because they believe no jobs are available for



Edited by northwestsmith2
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  • 433 Brexit, House prices and Summer 2020

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      • down 5% +
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