shadow

Unemployment in October: New hires, but not enough

Private employers added almost 160,000 new hires. Job creation increased 0.15 percent increase over last month, but remains more than 6 percent below the pre-recession peak employment.

SoldAtTheTop / The Paper Economy
Private employment over the past decade shows that the number of hires continues to recover from the trough of summer 2009, but remains well below the pre-recession peak.

Today’s Employment Situation Report showed that net nonfarm payrolls increased 151,000 while private nonfarm payrolls added 159,000 and the unemployment rate stayed flat at 9.6%.

It's important to note that private sector job creation increased 0.15% since last month remaining a whopping 6.36% below the peak level of employment seen in December 2007 though, on a year-over-year basis, private jobs showed a second notable increase of 1.03%.

RELATED STORY: When happens when unemployment extensions end? A movement rises: the 99ers

Add/view comments on this post.

------------------------------

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.

of 5 stories this month > Get unlimited stories
You've read 5 of 5 free stories

Only $1 for your first month.

Get unlimited Monitor journalism.