Unemployment and Earnings Losses

The labor market has shown another month of growth, according to today’s employment report. Payroll employment increased by 80,000 jobs in October; private sector employment was up by 104,000, while governments continued to shed jobs. Additionally, the employment gains in August and September were revised upward by a total of 102,000. On net, the unemployment rate ticked down slightly to 9.0 percent. Over the past year, payroll employment has increased by an average of 125,000 per month, just enough to accommodate new entrants to the labor force.

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