October employment

Good news continues on employment as the BLS reports that employment rose by 214,000 in October with a down tick in the unemployment rate to 5.8%. The increase was not quite as large as the 235,000 that economists had forecast but the unemployment rate was in line with expectations. The number of involuntary underemployed (part time for economic reasons) continued to decline in October as the number of those who could only find part time work dropped. Slack work actually increased slightly. However, the total involuntary underemployment remains well above pre-Great Recession levels. As I’ve noted before, the high level of involuntary underemployed constitutes a waste of human capital.
Involuntary underemployed Oct 2014.png

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