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October 07, 2011

Jobs Numbers [Domenech]

First Friday of the month means jobs numbers. We're looking at 103K jobs created in September, exceeding expectations. But unemployment rate stays at 9.1%. We've been between 9.0 and 9.2 since April with basically no movement.

Broader U-6 unemployment rate increased to 16.5% from 16.2%. And according to BLS, the number of long-term unemployed - those unemployed for six months or more - was 6.2 million, making up 44.6% of the total unemployed.

Frankly, this means were just keeping pace with population growth. This is what a managed decline looks like.

Update: As commenters note, this number includes the 45k striking Verizon workers coming back into the fold. Also, Jim Pethokoukis has some thoughts.


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posted by Guest Blogger at 08:56 AM

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