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20041105 Friday November 05, 2004

Nice Jobs Report

The United States Labor Department reported today that 337,000 jobs were added to payrolls in October. The Labor Department also revised the number of jobs created in September up from 96,000 to 139,000 and revised the number of jobs created in August up from 128,000 to 198,000.
( Nov 05 2004, 10:55:24 PM PST ) Permalink Comments [2]

Comments:

I vaguely recall reading today that while jobs were added, "unemployment" rate (measured as people actively seeking jobs) still rose to 5.5% because more people joined its ranks of the "unemployed" (by starting to actively seek for jobs). It could have been in the Wall Street Journal but I'm not sure.

Posted by M. Mortazavi on November 05, 2004 at 11:23 PM PST #

That is correct. The unemployment rate actually increased due to the number of previously "discouraged workers" that entered the workforce.

Posted by Brandon E Taylor on November 07, 2004 at 12:37 AM PST #

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