Unemployment Rate Rises; A Paltry 39,000 Jobs Gained In November

Despite analysts’ predictions that the economy would add more than 100,000 jobs in November, payrolls increased by just 39,000, the Bureau of Labor Statistics reported today.

The unemployment rate rose to 9.8 percent from 9.6.

Here are the numbers:

  • 15.1 million unemployed Americans
  • Of that 15 million, 6.3 million have been out of work for more than half a year.
  • On top of the 15 million, 9 million workers are underemployed.
  • And another 2.5 million out-of-work Americans were not counted as unemployed because they had not searched for work in the past four weeks.

Temporary help services and health care added the most jobs (40,000 and 18,000, respectively) while retail lost 28,000 jobs.