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• Monday, November 05th, 2012

The US economy added more jobs in October.

Over 170,000 jobs were created by the economy, suggests a report from the Labor Department. The number of jobs added exceeded what was expected from previous projections.

Jobs have been added during the last few months – with 50,000 added in August and 34,000 added in September. But although the number of job opportunities available has risen the unemployment rate in America rose to 7.9%.

Although the unemployment rate did increase it’s thought this could be because of more people looking for work. Unemployment in the US is classed as people out of work but job searching and therefore the recent increase could suggest more people are on the job hunt than before.

While the number of job vacancies increased, the number of people working part-time but wanting to be in a full-time position decreased to 8.3 million.

On average, 171,000 jobs have been created every month in the US throughout 2012 but despite this increase the economy is still struggling to recover from the recession.

A variety of industries have been responsible for the new jobs being added in October. The retail industry added 36, 400 jobs and the construction industry added 17,000 new jobs.

The recent job news and figures comes days before the election and has been a focal point of the election campaigns.


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