2.8 M unemployed, 7.1 M underemployed

The results of the 4th quarter (October) labor force survey was released yesterday by the National Statistics Office (NSO). Here are the important results as of October 2010:

Unemployed, 2.80 M (vs. 2.72 M in October 2009), unemployment rate this quarter remains at 7.1 percent of the labor force.

Underemployed, 7.14 M (vs. 6.88 M in October 2009), underemployment rate at 19.6 percent. See other data here.

So the combined number of unemployed plus underemployed this quarter remains high at 9.94 M people. The challenge to create more jobs in the economy remains very important.

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