The unemployment rate for October rose to 7.3 percent from 7.2 percent from the previous month. 204,000 jobs were added in October with the 16-day federal government shutdown having less of a negative impact than anticipated.
The Labor Department said there were “no discernible impacts” of the shutdown on the number of job gains.
The majority of new jobs came from the leisure and hospitality sector, that added 53,000 new jobs while retailers hired 44,000 people.
The Latino unemployment rate in October ticked up by .1 percent to 9.1 percent from 9.0 percent in September. Latino unemployment was up at 9.1 percent back in July of this year. African-Americans and teenagers (16-to-19 years old) continue to have the highest rates of unemployment in the country. Teenagers have an unemployment rate of 22.2 percent while African-Americans have a 13.1 percent rate.
There are now 11.3 million Americans without work, 4.1 million people, or 36 percent of the job force out of work at least 6 months and 13.8 percent of people underemployed. On the bright side the percentage of Americans working or looking for work fell to a new 35-year low.