THE EMPLOYMENT SITUATION in the U.S.: OCTOBER 2008

THE EMPLOYMENT SITUATION in the U.S.: OCTOBER 2008
Nonfarm payroll employment fell by 240,000 in October, and the unemployment rate
rose from 6.1 to 6.5 percent, the Bureau of Labor Statistics of the U.S. Department
of Labor reported today. October's drop in payroll employment followed declines of
127,000 in August and 284,000 in September, as revised. Employment has fallen by
1.2 million in the first 10 months of 2008; over half of the decrease has occurred
in the past 3 months. In October, job losses continued in manufacturing, construc-
tion, and several service-providing industries. Health care and mining continued
to add jobs.

(New York Times) Business PERMALINK
U.S. Jobless Rate Hits 14-Year High
By PETER S. GOODMAN
Published: November 8, 2008
The toll of lost jobs rose to 1.2 million for the year as 240,000 American jobs disappeared in October.