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October Jobs Report is Mixed

Unemployment Rate Ticks down in September

The September jobs report shows a slight decline in the unemployment rate for September, as the rate fell to 7.2%.  Over the past year, it has fallen by 0.6%, as it was 7.8% in September of 2012.  The graph below shows the unemployment rate since the beginning of 2003.

Unemp913

Other important statistics from this report:

  • Nonfarm employment rose by just 148,000 jobs.  This is not enough to bring the unemployment rate down to its natural level.
  • The labor force participation rate continued its decline, falling to just 63.2%.