Unemployment Nudges Down to 9%
Employers added 80,000 jobs last month and the unemployment rate dropped slightly to 9%, the Labor Department reported today.
Of the 13.9 million unemployed people in October –down from 14 million in September-- 6.9 million had been without jobs for 27 weeks or more.
It is the first movement in the nation’s unemployment rate since June as the rate had been 9.1% in July, August and September. The unemployment rate has been between 9% and 9.2% since April. As in September, there were job gains in professional business services, health care and construction while government employment declined. The sluggish economic recovery, which the Federal Reserve http://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20111102.pdf
said this week could continue into next year and beyond, and the high fees charged by banks are proving the impetus for tomorrow’s Bank Transfer Day. http://www.cutimes.com/2011/11/01/bank-transfer-day-live-coverage
Yesterday, CUNA reported that 650,000 people have joined credit unions since September.