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Unemployment Rate Rises to 7.9, Black Unemployment Rises to 14.30%
 The number of unemployed in the US rose from 12,088,000 in September to 12,258,000 in October. An increase of 170,000. That almost perfectly offsets the increase in non farm payrolls (+171,000).And the duration of unemployment 27 weeks and over rose to 40.6%. The employment to population ratio rose in October to 58.8, but still remains at a level near the beginning of the "Reagan Recovery." The unemployment rate among blacks/African Americans rose to 14.30%. There will be no joy in the Black/African American community over this pitiful unemployment rate. On the wage front, changes in hourly earnings rose 1.6% (Year over Year), far below the Bush years. In fact, the rate fell in 2009 and has remained in the doldrums since. Graphs on these statistics are available at the site Posted by: Au Auric 2012-11-03 |
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