HireCentrix News Updates
Defying predictions, the nation's unemployment rate fell almost half a percent to 8.6 percent in November, the lowest level in nearly three years, as employers added 120,000 new jobs, the government reported.Older workers saw welcome gains too. The jobless rate for people 55 and older fell to 6.4 percent in November from 7 percent in October. It was the lowest rate for this group since March 2009.
But once again, for older American out of work, the job search was long and painful. The average duration of unemployment moved stubbornly higher for older workers, to 58.2 weeks, up
from 52.9 weeks in October. For younger workers, it edged up to 38 weeks.
"We're definitely better off this year than last year," said Bill Watkins, executive director of the Center for Economic Research and Forecasting, a think tank in Thousand Oaks, Calif.
"Economic activity has grown every quarter and there's been some job growth," he said. "It's weak, but you've got to crawl before you can run." Among men 55-plus, the jobless rate dropped to 6.8 from 7.2 percent the previous month. The figures moved in the right direction for older women as well — 5.8 percent last month from 6.5 percent in October.
In other good news that could signal a slow but steady economic turn-around, the government revised upward job growth figures for the last two months. September had the biggest gains at 210,000 new jobs, up from the initially reported 158,000. October's numbers jumped to 100,000 new jobs from 80,000.
by: Carole Fleck | from: AARP Bulletin
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The 77 million people that make up the US small business workforce would rank as the 17th most populous country in the world, just ahead of Iran;
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