Unemployment Dips to 9 Percent After US Adds 80,000 Jobs

Friday, November 04, 2011

The U.S. economy added 80,000 jobs in the month of October, pushing the unemployment rate down to 9.0 percent from 9.1 percent according the latest figures from the Bureau of Labor Statistics. In October, the private sector added 104,000 jobs, though 24,000 government workers lost their jobs. On Wednesday, the Federal Reserve forecast that unemployment will likely only drop to between 8.5 and 8.7 percent in 2012Charlie Herman, business and economics editor for The Takeaway and WNYC, analyzes what these figures mean for the economy.

Comments [2]

Only 80,000 jobs added? This is only a drop in the bucket compared to what we really need to be pre-2008 before the Great Recession. Too many people filing for unemployment, too few jobs being filled as corporations are too scared to hire right now. Too little, too late.

Nov. 06 2011 04:51 PM

The Democrats controlled the Congress for two years just ten months ago with no "gridlock". What was the excuse for doing nothing to ease high unemployment then except spending trillions that did nothing to bring unemployment down to acceptable levels?

How can the aims of Occupy Wall Street be considered positive and a stock bounce on Wall Street be considered positive at the same time?

Nov. 04 2011 09:37 AM

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