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U.S. Unemployment Drops to 10.0 Percent

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The unemployment rate edged down to 10.0 percent in November, and nonfarm payroll employment was essentially unchanged (-11,000), the U.S. Bureau of Labor Statistics reported today.

In the past 3 months, payroll job losses had averaged 135,000 a month, the government said. In November, employment fell in construction, manufacturing, and information, while temporary help services and health care added jobs.

In November, both the number of unemployed persons, at 15.4 million, and the unemployment rate, at 10.0 percent, edged down, the report said. At the start of the recession in December 2007, the number of unemployed persons was 7.5 million, and the jobless rate was 4.9 percent.

Among the major worker groups, the govenrment said that unemployment rates for adult men (10.5 percent), adult women (7.9 percent), teenagers (26.7 percent), whites (9.3 percent), blacks (15.6 percent), and Hispanics (12.7 percent) showed little change in November. The unemployment rate for Asians was 7.3 percent, not seasonally adjusted.

Among the unemployed, the number of job losers and persons who completed temporary jobs fell by 463,000 in November, according to the report. The number of long-term unemployed (those jobless for 27 weeks and over) rose by 293,000 to 5.9 million. The percentage of unemployed persons jobless for 27 weeks or more increased by 2.7 percentage points to 38.3 percent.

The civilian labor force participation rate was little changed in November at 65.0 percent. The employment-population ratio was unchanged at 58.5 percent.

The number of people working part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in November at 9.2 million, according to the federal government. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.

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Written by newscycle

December 4, 2009 at 10:36 am

Posted in Unemployment

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