The US unemployment rate falls to 6.9% in October

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Donald Trump can continue to show good economic figures. The unemployment rate in United States experienced a decrease of one percentage point in October, to stand at the 6,9%. The country’s labor market continued its recovery for the sixth consecutive month after the COVID-19 ‘shock’, which in April caused the worst employment data in the country in history, according to the figures published this Friday by the labor statistics office of the US Department of Labor.

The economic reactivation of the country motivated the creation of 638,000 non-farm jobs in the tenth month of the year, after the 672,000 in September, the 1.5 million in August, the 1.8 million in July, the 4.8 million in June and the 2.7 million in May. In April, the pandemic it destroyed 20.8 million jobs at once, reason why almost 60% of the destroyed employment has already been recovered.

In this way, the unemployment rate has continued to move away from the record highs that it reached in spring and summer, of up to 14.7%. In October 2009, the peak of the global financial crisis that began in 2008, the unemployment rate in the United States reached 10%, while the all-time high until this year was in December 1982, when it reached 10.8% .

13% more long-term unemployed

The number of long-term unemployed, those who have been unemployed for a minimum of 27 weeks, rose to 3,556 million people, which is equivalent to an increase of 1,151 million unemployed. This large increase is due to the fact that between October and November nearly 27 weeks have elapsed since April, when a large part of the layoffs took place. The weight of the unemployed Long duration With respect to the total number of unemployed, it grew by more than 13 percentage points, to 32.5%.

By groups of workers, the unemployment rate among women fell by 1.2 points, to 6.5%, while among men it fell by one percentage point, to 6.7%. Unemployment among young boys it stood at 13.9%, which is why it fell by two percentage points.

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