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Unemployment USA

Despite a strong October jobs report, Black unemployment remains too high to justify the Fed’s recent decision to decrease bond purchases (Kristen Broady and Anthony Barr, Brookings)

The Bureau of Labor Statistics’ October jobs report, released November 5, provides generally positive news with total nonfarm payroll employment increasing by 531,000 compared to an increase of only 194,000 in September, since revised upward. The unemployment rate decreased to 4.6% from 4.8% in September. ManpowerGroup President Becky Frankiewicz said, “This morning’s numbers represent the beginning of a reconciliation between American companies and American workers.”  Frankiewicz also suggested that, “As the stimulus ended, employers realized they needed to move closer to what workers want to bring them back in—with higher wages, greater flexibility and more focus on the health and well-being of their people.”

Despite a strong October jobs report, Black unemployment remains too high to justify the Fed’s recent decision to decrease bond purchases (brookings.edu)