In the now three years since the total level of employment peaked in the U.S., some 7,595,000 fewer people were employed in November 2010 than had jobs in November 2007, as the latest data suggests that the U.S. job market has seen no sustained improvement since March 2010.
Breaking November 2010's data down by age group, we find that the number of working teens increased by 77,000 in November, followed by an increase of 4,000 young adults between the ages of 20 and 24.
But those gains were more than offset by the 254,000 individuals Age 25 or older who were no longer counted as being employed as compared in November 2010, as these older Americans absorbed the brunt of job loss during the month.
Overall, some 173,000 fewer Americans were counted as being employed in November 2010 as compared with the previous month. That decline decreased the total number of working Americans to 138,888,000 in November 2010, the lowest number of employed Americans since March 2010.
The total number of employed Americans bottomed in December 2009 at 137,792,000, as the unemployment rate in the U.S. was 10.0% for that month. The unemployment rate for the U.S. in November 2010 is 9.8%.
Labels: jobs
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