The situation of work in the United States has increased in three months, but the growth of the workforce is still not enough to offset the growth in population, let alone make much of a dent in the unemployment rate remains stubbornly high at that level.
On Friday, the Bureau of Labor Statistics released a monthly snapshot of Labor-United States-based on a survey of employers, and the unemployment rate-based on household surveys. Household data showed that the unemployment rate ticked up to one tenth of a point very slightly, to 9 percent by the end of October. This high level of unemployment makes people less mobile and less fussy, and has an impact on the housing market and other areas of life.
Private sector employers surveyed by BLS, which is a unit of the Department of labor, said in the latest jobs report (PDF) that they have created new jobs, a cleaner 104,000 is good news until you realize that it's about half the level required just to keep up with population growth.
The US economy will need to add many hundreds of thousands of jobs per month to get the unemployment rate back down to 4.5 per cent or more, what many economists have considered the structural unemployment rate in the country. I think economists had better look out their window a little bit more and started to get used to the idea that perhaps the 6th, 7th, or heaven forbid 8 percent is a new structure of the unemployment rate below that of the US economy will not fall. If this turns out to be true, it would create a feedback loop that will make the housing market that is frozen, and the inability of people to sell their homes will mean they cannot change the location to change jobs. If you rent, you can become much more mobile.
While private non-farm businesses added 104,000 jobs, because of the lack of local budgets, State, and Federal Government agencies slashed 24,000 job-So a net profit of only 80,000 in all 50 States of the Union … the good news is that the BLS revised estimates for the return and job creation, clean in August and September, and now believe 104,000 jobs created in August (up from an estimated 57,000) and. 158,000 was created in September (up from 103,000 reported last month). If you do trends, the economy of the u.s. because it has an average of 125,000 new jobs per month during the year. On that level, it would take nine years and four months to bring the unemployment rate to zero; halve the time, and you go back to what we used to think as structural unemployment.