Unemployment Rate Rises to 9.8%

The Bureau of Labor Statistics put out the report today citing, "Since the start of the recession in December 2007, the number of unemployed persons has increased by 7.6 million to 15.1 million, and the unemployment rate has doubled to 9.8 percent."

The statistics show job losses in a variety of sectors. Government employment was down by 53,000 in September, with the largest decline occurring in the non-education component of local government. Employment in manufacturing fell by 51,000 in September and construction employment declined by 64,000.

The largest job losses were in construction, manufacturing, retail trade, and government.

The report was not a beacon of good news for the 15.1 million unemployed people in the United States. Overtime hours were reduced in many industries. A reported 1,700 jobs were lost in the temporary help industry, which typically sees a faster rebound.

Approximately 52 percent of unemployed people have exhausted their state unemployment benefits. The House of Representatives has passed a bill that would provide another 13 weeks of benefits, but a similar bill has not passed in the Senate over questions of whether it should only cover people in the hardest-hit states.

The Employment Situation for October is scheduled to be released on
Friday, November 6, 2009, at 8:30 a.m.

Written by Cheryl Phillips
Exclusive to HULIQ.com

Source: The Bureau of Labor Statistics, Department of Unemployment