Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

Friday's jobs report proved it's still tough for unemployed Americans

Published by Business Insider on Fri, 02 Dec 2016


Friday's jobs report had a huge surprise with a massive drop in the unemployment rate to 4.6%, the lowest since August 2007.Despite that good news, the details of the report showthat for those that are unemployed, it is still tough out there.For one thing, people thatare out ofwork have been without a job for a pretty long time. The average length of unemployment as of November was 26.3 weeks. This is the lowest since August 2009, but much higher than in August 2007, the last time unemployment was this low,when the average length of unemployment wasjust 17 weeks.Additionally, as noted on Twitter by Indeed Chief Economist Jed Kolko, the percentage of workers that have been out of a job for six months or more sits at 24.8% of all unemployed. This is solid for this cycle, the lowest since March 2009, but again is well above the last time the unemployment rate was at 4.6%. In August 2007, the percentage was just 17.5%.There many possiblereasons for this. Firms have been noting as the labor market has improved that they are struggling to find workers that have the skills needed to fill their roles (the so-called skills gap). Essentially, the workers that are not yet employed either don't have the education or the technical training to fill the positions businesses need.To that end, the unemployment rate for Americans with less than a high school degree and over 25 (so unlikely to be in college) is still well above its August 2007 level at 7.9% versus 6.5% nine years ago.So yes, the labor market is approaching the strength it hadbefore the recession and there is plenty to be happy about in the most recent jobs report. But, forthose that still find themselves out of work, the American job market isn't quite fixed yet.SEE ALSO:Unemployment rate tumbles to a 9-year lowJoin the conversation about this storyNOW WATCH: This hidden iPhone feature will boost your reception
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Daily News 24  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Nigerian Tenders  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs