Total nonfarm payroll employment rose by 161,000 in October, and the unemployment rate was little changed at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in health care, professional and business services, and financial activities.
The unemployment rate, at 4.9 percent, and the number of unemployed persons, at 7.8 million, changed little in October. Both measures have shown little movement, on net, since August 2015.
The number of job losers and persons who completed temporary jobs declined by 218,000 over the month to 3.7 million. The number of long-term unemployed (those jobless for 27 weeks or more) was unchanged at 2.0 million in October and accounted for 25.2 percent of the unemployed.
In October, both the labor force participation rate, at 62.8 percent, and the employment-population ratio, at 59.7 percent, changed little. These measures have shown little movement in recent months, although both are up over the year.
The number of persons employed part time for economic reasons (also referred to as involuntary part-time workers) was unchanged in October at 5.9 million. These
individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time
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