The economy added 80,000 more jobs in October, easing the unemployment rate slightly from 9.1% to 9.0 percent. October hiring was weaker than in September, however, which saw the creation of 158,000 jobs. The number falls slightly short of economist expectations, which had predicted a gain of 98,000 jobs.
13.9 million Americans were unemployed in October, with 42% of that out of work for at least 27 weeks. Those considered “marginally attached” to the workforce—those who want work, but were not actively seeking a job in October—numbered 2.6 million. The underemployment rate for individuals forced to work part-time when they want to work full-time was at 16.2%. The economy is still struggling to regain all the jobs lost since the recession’s end.
