US jobless rates edges down
November 5th, 2011 - 11:45 am ICT by IANS
Washington, Nov 5 (IANS/EFE) The US economy gained 80,000 net new jobs in October, pushing the unemployment rate down by a tenth of a percentage point to 9 percent, authorities said Friday.
Analysts had forecast that anywhere from 90,000 to 100,000 new jobs would be created last month.
The Labour Department said that while private employers added 104,000 new positions in October, 24,000 jobs were eliminated in the public sector.
The economy gained 158,000 jobs in September and 104,000 in August, according to the department’s revised figures.
The official unemployment rate has been above 8 percent since February 2009, the longest period of elevated joblessness in the US since 1948.
Though more than 1 million new jobs have been created this year, that is far short of what would be needed to make a significant dent in the unemployment rate.
President Barack Obama’s $447 billion jobs bill, which envisions higher taxes on the wealthy, has been systematically blocked in Congress by Republicans.
–IANS/EFE
rd
- US consumer prices dip - Nov 17, 2011
- US productivity up in third quarter - Nov 04, 2011
- New US jobless claims dip below 400,000 - Jul 29, 2011
- US economy grew 2.5 percent in third quarter - Oct 28, 2011
- US consumer prices rose in September - Oct 20, 2011
- US unemployment rises to nine percent - May 07, 2011
- US private sector added 110,000 jobs in October - Nov 03, 2011
- US unemployment claims fall slightly - Jul 01, 2011
- US jobless claims at lowest level in four years - Feb 17, 2012
- Richest 1 percent in US saw incomes triple - Oct 28, 2011
- US retail sales go up - Mar 14, 2012
- US jobless claims at four-year low - Mar 23, 2012
- New US jobless claims rise - Dec 30, 2011
- US jobless claims surge - Sep 16, 2011
- New jobless claims in US at lowest level in nine months - Dec 09, 2011
Tags: 1 million, authorities, barack obama, congress, economy, efe, jobless rates, joblessness, labour department, new jobs, nov 5, october 24, percentage point, private employers, public sector, republicans, unemployment rate