Monthly Unemployment Rate

Octobers Unemployment Rate was released and remained at 9.6% for U3 and 19% for U6 unemployment. The labor force contracted 254,000 and the number of employed contracted 330,000 as well.  Marginally attached and Discouraged workers increased by 64,000, but the number of Part time for Economic reasons contracted by 318,000.

Overall I would say this report was nothing to write home about.  The unemployment rate is running sideways for now, which is not good.  Unemployment benefits for thousands of people expire at the end of the month.