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Friday, November 02, 2012

Unemployment Rises To 7.9%, Jobs At 171,000 And U6 at 14.6%

By Susan Duclos

The last unemployment report from the Department of Labor, before the presidential election on November 6, 2012, is out and gives both Mitt Romney and Barack Obama there own set of talking points for the last days on the campaign trail.

Unemployment has risen a percentage point and is now at 7.9 percent, the U6, which is unemployment, underemployment and marginally attached workers is at 14.6 percent and nonfarm payroll employment increased by 171,000 in Octobe.

 Notable fact-  Unemployment was 7.8 percent in January 2009, before Obama's so-called recovery. Bonus notable fact- The U6 unemployment was 14.2 percent in January 2009 and is  at 14.6 percent today.

The breakdown:

Among the major worker groups, the unemployment rate for blacks increased to 14.3 percent in October, while the rates for adult men (7.3 percent), adult women (7.2 percent), teenagers (23.7 percent), whites (7.0 percent), and Hispanics (10.0 percent) showed little or no change. The jobless rate for Asians was 4.9 percent...

Obama will argue that 171,000 were created and Romney will argue that unemployment and the U6 is higher today than it was when Obama took office.

Both campaigns are already making those arguments

Areas still at or above official unemployment rate: (22 states and DC)

Alabama- 8.3%
Arizona- 8.2%
California- 10.2%
Colorado- 8.0%
Connecticut- 8.9%
D.C.- 8.7%
Florida- 8.7%
Georgia- 9.0%
Illinois- 8.8%
Indiana- 8.2%
Kentucky- 8.4%
Michigan- 9.3%
Mississippi- 9.2%
Nevada- 11.8%
New Jersey- 9.8%
New York - 8.9%
North Carolina- 9.6%
Oregon- 8.7%
Pennsylvania- 8.2%
Rhode Island- 10.5%
South Carolina- 9.1%
Tennessee- 8.3%
Washington- 8.5%

Data obtained from Bureau of Labor Statistics on the Local Area Unemployment Statistics page. (Right side)