The U.S. economy added 80,000 jobs in October, the Bureau of Labor Statistics said today. That’s 20,000 fewer jobs than were added in September and 30,000 fewer jobs than ADP had said were added. (Actually, that’s because ADP tracks only private-sector jobs, while most of the job declines in October were from government workers.)
The unemployment rate was 9.0 percent.
Nearly 9 million people were underemployed, working part-time because they couldn’t find fulltime work. Almost one million (967,000) people were out of work but not counted as unemployed because they had stopped searching for jobs.
The job increases for August and September were both revised upward, now that the Bureau has more accurate numbers. In August, 104,000 jobs were added (instead of the zero originally stated), and the change from September was revised from 103,000 to 158,000.
But, 13.9 million people are still out of work, including 5.9 million who’ve been jobless for six months or more.