The U.S. Dept. of Labor reports that October's unemployment rate jumped to 10.2 percent. That rate is the highest it has been since 1983. Some employers, however, are adding temporary workers.
According to the
Washington Post, the Labor Department said on Friday that the U.S. "unemployment rate rose to 10.2 percent, up from 9.8 percent in September, the highest level since 1983."
Employers continue to cut jobs, but at a slower rate than in September. Still, more than one out of every 10 American workers were unable to find jobs in October.
The Labor Dept. report indicates that a net of 190,000 jobs were cut.
"The unemployment rate was up among all groups of people," according to the
Washington Post, "with the steepest rise among teenagers (among whom the jobless rate rose to 27.6 percent, from 25.9 percent), and white people (among whom the rate rose to 9.5 percent from 9 percent)"
In terms of job declines, the leading sectors were:
*Construction and manufacturing
*Retailers
*Leisure and hospitality
Employment gains were in the following sectors:
*Education and health services
*Professional and business services
Temporary jobs helped to prop-up employment gains with temporary-help services adding 34,000 jobs. The
Washington Post notes that "Many employers, facing increased demand for their products, bring temporary workers on, adding permanent workers only once they have confidence the higher sales are permanent."
While gross domestic product rose at a 3.5 percent rate in the third quarter, companies have managed to increase output by "squeezing more production out of their existing workforce."
U.S. Secretary of Labor Hilda Solis said in a
press release:
We have known for some time now that the unemployment rate could reach this level, and it is an unacceptable situation. We are working hard to reverse these circumstances for the millions of Americans who need and want work but cannot find it
.
Further, Secretary Solis indicated that, over the past year, thousands of people have taken advantage of training programs offered through the Workforce Investment Act. Solis stated, "Three-quarters of these workers are expected to get jobs shortly after completing training programs."
