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October jobs report: Hiring weak, unemployment high

Posted By Equipment World Staff On November 5, 2010 @ 1:11 am In Construction News | No Comments

The jobs report for October is expected to show hiring weak and unemployment still high, and the outlook for 2011 is still pretty bleak, according to a report from the Associated Press (AP) [1].

Economists expect the U.S.Department of Labor to report that employers added about 60,000 jobs in October, fewer than the 100,000 needed to keep pace with population growth — and far fewer than the 200,000 needed to start returning the 15 million unemployed Americans to work, the AP says in its report.

As a result, the unemployment rate is expected to remain 9.6 percent for a third straight month, according to the AP.

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[1] a report from the Associated Press (AP): http://finance.yahoo.com/news/Weak-employment-report-apf-1056168021.html?x=0&sec=topStories&pos=3&asset=&ccode=

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