Loading...
See More

US unemployment ticks up to 7.9%

Nov 02 2012 14:56 AFP

Related Articles

US storm damage could hit $50bn

US storm damage set to cost $20bn

No fuel as NY pumps run dry

US jobless claims at lovest level since 2008

US consumers boost economic growth

US CEO confidence hits 3-year low

 

Washington - The US unemployment rate rose to 7.9% in October from 7.8% the prior month, the government said on Friday in a highly anticipated report ahead of the November 6 election.

Though the jobless rate ticked up a notch, the economy added 171 000 jobs in October, well above expectations.

The Labour Department said the unemployment rate was "essentially unchanged" at 7.9%, and noted job growth in professional and business services, health care and the retail sector.

The number of unemployed people - 12.3 million - was slightly higher, following a dip in September.

Most analysts had forecast the rise in the unemployment rate, but the job growth far outpaced the 125 000 estimate.

The better-than-expected jobs report serves as the final snapshot on the economy as President Barack Obama battles for re-election next Tuesday in a neck-and-neck race against Republican challenger Mitt Romney.

unemployment  |  us economy
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...