October Jobs: Numbers Moving in the Right Direction

octoberjobs

Excerpt from Barron’s Next: Looking for a Job? Here’s Where to Find One (11/4/2016)

Overall, unemployment for millennial-age workers is 35% higher than for the population at large, and pay, while finally beginning to rise, is still lower than it was before the recession, Young Invincibles data show. But the numbers are at least moving in the right direction: The unemployment rate ticked down to 6.6% for workers age 18-34 in October from 6.7% in September, and 55,000 jobs (outside of agriculture) were added. Even better, the reason the unemployment rate fell is because more young workers found jobs rather than giving up and leaving the labor force, Allison says. “The big picture is pretty encouraging,” he says.

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