The Labor Department has released its statistics for the month of October. It shows that 261,00 new jobs were created. In spite of that, the unemployment rate rose from 3.5% in September to 3.7% in October.
Here are the relevant statistics for October:
SIZE OF THE CIVILIAN WORK FORCE:
164,667,000
OFFICIAL NUMBER OF UNEMPLOYED WORKERS:
6,059,000
OFFICIAL UNEMPLOYMENT RATE:
3.7%
DEMOGRAPHIC BREAKDOWN OF OFFICIAL UNEMPLOYMENT:
Adult men...............3.3%
Adult women...............3.4%
Teens (16-19)...............11.0%
Whites...............3.2%
Blacks...............5.9%
Asians...............2.9%
Hispanics...............4.2%
No HS diploma...............6.3%
HS graduate...............3.9%
Some college...............3.0%
Bachelor's deg or more...............1.9%
NUMBER OF MARGINALLY-ATTACHED WORKERS (unemployed but not counted):
1,504,000
MORE REALISTIC NUMBER OF UNEMPLOYED WORKERS (official + marginally-attached):
7,563,000
MORE REALISTIC UNEMPLOYMENT RATE:
4.59%