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Unemployment in October: New hires, but not enough

Private employers added almost 160,000 new hires. Job creation increased 0.15 percent increase over last month, but remains more than 6 percent below the pre-recession peak employment.

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SoldAtTheTop / The Paper Economy
Private employment over the past decade shows that the number of hires continues to recover from the trough of summer 2009, but remains well below the pre-recession peak.

Today’s Employment Situation Report showed that net nonfarm payrolls increased 151,000 while private nonfarm payrolls added 159,000 and the unemployment rate stayed flat at 9.6%.

It's important to note that private sector job creation increased 0.15% since last month remaining a whopping 6.36% below the peak level of employment seen in December 2007 though, on a year-over-year basis, private jobs showed a second notable increase of 1.03%.

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