Today, November 5th, the Bureau of Labor Statistics (BLS) reported employment rose by 531,000 in October and the unemployment rate edged down by 0.2 percentage point to 4.6 percent. Job growth was widespread, with notable job gains in leisure and hospitality, in professional and business services, in manufacturing, and in transportation and warehousing. Employment in public education declined over the month. For veterans, unemployment increased to 3.9 percent in October. Post-9/11 veteran unemployment increased from 3.5 percent to 3.8 percent in October. Of the total 327,000 unemployed veterans ages 18 and over, 24 percent have been unemployed for less than five weeks and 76 percent have been unemployed for more than five weeks. The average length of unemployment is 32.1 (the median is 12.4 weeks). The overall unemployment trend varies by different veteran demographic factors, however, some more than others. (Continue reading here…)
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