Monday, December 6, 2010

Unemployment rate rised to 9.8%

The United States added a total of just 39,000 jobs last month, down from an upwardly revised gain of 172,000 in October, the Labor Department reported on Friday. With local governments shedding jobs, the additions in the private sector were too small to reduce the ranks of the unemployed or even to keep pace with people entering the work force.

The unemployment rate, which is based on a separate survey of households, rose to 9.8 percent in November. It was the highest jobless rate since April and up from 9.6 percent in October. Part of the surprise in the November report was that layoffs, which had subsided earlier this year, picked up again. The number of people who were unemployed because they had been laid off or had concluded a temporary assignment increased by 390,000. The median length of time the unemployed had been out of work also rose to 21.6 weeks, the third consecutive monthly increase. For those who have been searching for work for more than six months, this is a particularly discouraging prospect.

No comments:

Post a Comment