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
Employment Situation Summary OCTOBER 2008
U.S. Bureau of Labor Statistics Division of Labor Force Statistics November 7, 2008.