| Actual | Previous | |
|---|---|---|
| Adjusted | 3.0% | 3.0% |
| Not Adjusted | 2.9% | 2.8% |
Highlights
The jobless rate in October held steady at 3.0 percent, seasonally adjusted. Unadjusted however, it increased 0.1 percent to 2.9 percent percent. The youth unemployment rate decreased 0.1 percent to 3.1 percent in October.
There were 2,377 less job openings in October, down 6.4 percent to 34,995 on an unadjusted basis, but up 1.5 percent than a year ago. When accounting for seasonal factors, they were up 0.9 percent from September to 35,952.
The number of jobseekers grew 2.8 percent to 219,696, unadjusted from the previous month while up 14.9 percent from a year ago. A seasonally adjusted increase of 0.7 percent was reported for October with 224,311 looking for jobs.
Among economically high-profile industries, the unemployment rate in the chemical and refining industries fell 0.3 percent percent from September but increased 22.4 percent from a year ago. In the watch industry, the rate fell 1.1 percent in October from September but increased 15.7 percent from a year ago.
Some industries are facing challenges, in particular the watch industry due to the 39 percent US imposed tariffs, but still the broad labor market remains mostly steady.
There were 2,377 less job openings in October, down 6.4 percent to 34,995 on an unadjusted basis, but up 1.5 percent than a year ago. When accounting for seasonal factors, they were up 0.9 percent from September to 35,952.
The number of jobseekers grew 2.8 percent to 219,696, unadjusted from the previous month while up 14.9 percent from a year ago. A seasonally adjusted increase of 0.7 percent was reported for October with 224,311 looking for jobs.
Among economically high-profile industries, the unemployment rate in the chemical and refining industries fell 0.3 percent percent from September but increased 22.4 percent from a year ago. In the watch industry, the rate fell 1.1 percent in October from September but increased 15.7 percent from a year ago.
Some industries are facing challenges, in particular the watch industry due to the 39 percent US imposed tariffs, but still the broad labor market remains mostly steady.
Definition
The unemployment rate measures the number of unemployed as a percentage of the labour force. Both seasonally adjusted and unadjusted monthly data are provided.
Description
Like the employment data, unemployment data help to gauge the current state as well as the future direction of the economy. Employment data are categorized by sectors. This sector data can go a long way in helping investors determine in which economic sectors they intend to invest.
By tracking the jobs data, investors can sense the degree of tightness in the job market. If employment is tight it is a good bet that interest rates will rise and bond and stock prices will fall. In contrast, when job growth is slow or negative, then interest rates are likely to decline - boosting up bond and stock prices in the process.
By tracking the jobs data, investors can sense the degree of tightness in the job market. If employment is tight it is a good bet that interest rates will rise and bond and stock prices will fall. In contrast, when job growth is slow or negative, then interest rates are likely to decline - boosting up bond and stock prices in the process.
