The November Jobs Report: Lack of Job Creation Making Jobs Difficult to Find
Conn Carroll /
The Bureau of Labor and Statistics released their November employment report showing the nation’s unemployment rate dropped all the way to 10%. While it is encouraging to see that the economy is beginning to recover, there are still some worrying data in the report. Heritage fellows James Sherk and Rea Hederman explain:
The unemployment rate fell from 10.2 to 10 percent in part because 98,000 workers left the labor force. Most of these workers were teenagers: 62,000 teens left the labor force. About 70,000 men age 20 and over left the labor force, but 35,000 women of the same age entered the labor force. These numbers reflect the difficulty that labor force entrants have had in finding new jobs. Since teenagers are far more likely to be unemployed, this helped reduce the unemployment rate. It is likely that the unemployment rate will climb once potential workers reenter the labor force. (more…)