Friday, November 6, 2009

Jobless Rate Jumps to 10.2%

The unemployment rate rose from 9.8 to 10.2 percent in October, and nonfarm
payroll employment continued to decline (-190,000), Bureau of Labor
Statistics reported today.

Construction employment decreased by 62,000 in October. Manufacturing lost 61,000 jobs in October. Retail trade lost 40,000 jobs in October.

The government propped up health care sector to increase in October with a gain of29,000 jobs.

August and September numbers were adjusted to show more job losses in those two months.

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