Non Farm Payroll for October 2008 -240,000

Once again, I am en flagrante delicto just as this report hits. Please report the details in comments  . . . .


UPDATE: November 7, 2008 9:10am

Awful report by all measures. The 10th straight loss in a row. The headline loss of 240k is bad enough — worst since 2001 — but the revision of September’s figures to a drastically lower -284,000 from 159,000 is substantial.

Virtually every sector — outside of government and healthcare — reported declines.

The unemployment rate rose by 0.4 percentage point to 6.5 percent in October, and the number of unemployed persons increased by 603,000 to 10.1 million. The 6.5% U3 unemployment rate is the highest level since 1994. U6 Unemployment — the broadest measure of j0oblessness — skyrocketed from 11% to 11.8%.

So far in 2008, a total of 1.18 million jobs have been lost (651,000 in the past three months).

Unemployment: U3 vs U6


via Jake at Econompic

>

Source:
Employment Situation Summary OCTOBER 2008
U.S. Bureau of Labor Statistics Division of Labor Force Statistics November 7, 2008.
http://www.bls.gov/news.release/empsit.toc.htm

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