UNEMPLOYMENT HOLDS STEADY AT 9.6%

 Well the unemployment numbers have come out and they hold steady at 9.6%

U.S. payrolls increased 151,000 in October after dropping the revised 41,000 in the previous month, according to the latest data from the U.S. Labor Department. Unemployment in the month hovered at 9.6%

Net private hiring increased 159,000 but manufacturing payroll declined 7,000. The employment gains were driven by increase in services of 146,000. Government agencies lowered the payrolls in the month. Federal government cut staff by 1,000 and state and local government lowered employment by 7,000.

The October employment report is the first after the completion of census conducted every ten years and the federal employment declined to 6,000 from the peak of 586,000 in May.

The average hours worked each week increased to 34.3 from 34.2 and hourly earnings increased to $22.73 from $22.68 in September.

 Well since unemployment held steady that means yet another Gregalogue!