On the surface, the establishment survey print of 161K jobs was just good enough when taking into account the 44,000 in upward revisions to August and September jobs. However, the household survey was less impressive, with the number of workers employed declining by 43,000 to 151,925 even as the number of persons unemployed declined from 7,939K to 7,787K.
So how did the unemployment rate drop? Because contrary to expectations that people are rushing back into the labor force, in October the number of Americans who were not in the labor force rose by a substantial 425,000 to 94,609, the highest print in the series since May, and suggests that the exodus of Americans out of the labor force has resumed.
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2 comments:
Found some information about wicomico county... 16+ population is 83400 but there is only 53,400 in the workforce. So you have 30,000 out of the workforce and the county's participation rate is projected to drop in the coming years. It makes me laugh because we have Bob Culver and SWED director saying unemployment rate is dropping bit doesn't show people who stopped looking.
Here we go with Democrat fuzzy math,worck the numbers until she is elected, then the economy goes bad , then she has the chance the be the savior, of course then they can blame it on the Republicans then.
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