Unemployment decreased by 0.2%.
The Department of Labor released its latest statistics about the U.S. job market on Friday, finding that a total of 531,000 new jobs had been added to the economy in October. This is the highest number reached since July of this year. The Labor Department also determined that the unemployment rate decreased by 0.2 percent to 4.6 percent.
Prior to the start of the pandemic, the unemployment rate averaged around 3.5%, suggesting that there is still more recovery needed in the months ahead. The Labor Department also released updated hiring numbers for the months of August and September adding 235,000 jobs to what were initially considered to be weak hiring months.
As the Lord Leads, Pray with Us…
- For officials in the Labor Department as monitor and support the job market.
- For the president’s administration to seek God’s guidance as they address employment.
- For Americans who are looking for work to find the right employment.
Sources: AP, Department of Labor
