United States Unemployment Rate improved from 9.9% to 5.8% when Obama took Office

The unemployment rate for United States of America has edged down to 5.8% from 9.8%, the U.S. Bureau of Labor Statistics reported today, November 7th 2014. Employment has increase in food services and drinking places, retail trade, and health care.

US Jobless rate

Both the unemployment rate (5.8 percent) and the number of unemployed persons (9.0 million) edged down in October. Since the beginning of the year, the unemployment rate and the number of unemployed persons have declined by 0.8% point and 1.2 million, respectively. Keep it up Mr. President!

US-POLITICS-STATE OF THE UNION-OBAMA

Food services and drinking places added 42,000 jobs in October, compared with an average gain of 26,000 jobs per month over the prior 12months. Employment in retail trade rose by 27,000 in October. Within the industry, employment grew in general merchandise stores (+12,000) and automobile dealers(+4,000).

Retail trade has added 249,000 jobs over the past year.  Health care added 25,000 jobs in October, about in line with the prior 12-month average gain of 21,000 jobs per month. In October, employment rose in ambulatory health care services (+19,000).

US jobless rate2

Employment in professional and business services continued to trend up over the month (+37,000). Over the prior 12 months, job gains averaged 56,000 per month. In October, employment continued to trend up in temporary help services (+15,000) and in computer systems design and related services (+7,000).  In October, manufacturing employment continued on an upward trend (+15,000). Within the industry, job gains occurred in machinery (+5,000), furniture and related products (+4,000), and semiconductors and electronic components (+2,000). Over the year, manufacturing has added 170,000 jobs, largely in durable goods. Employment also continued to trend up in transportation and warehousing (+13,000)and construction (+12,000).

President Obama and unemployment rate 2

Employment in other major industries, including mining and logging, wholesale trade, information, financial activities, and government, showed little change over the month. In October, the average workweek for all employees on private nonfarm payrolls edged up by 0.1 hour to 34.6 hours. The manufacturing workweek was unchanged at 40.8 hours, and factory overtime edged down by 0.1 hour to 3.4 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged up by 0.1 hour to 33.8 hours.

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