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County unemployment rises — as do jobs numbers
How so?
The county unemployment rate was 4.8 percent in October, up from 4.7 percent in September. The county gained 8900 jobs in the month. Government jobs rose by 6700, and seasonal government jobs rose by 3300, boosted by "return to school" employment.
The unemployment rate was down from 5.1 percent a year ago. The county gained 29,500 jobs year-over-year.
How can an increase in unemployment and jobs occur simultaneously? The unemployment rate is calculated by dividing the number of unemployed individuals by those in the labor force, which consists of persons seeking employment. The rate can go down while the number of jobs rises because the rate is based on the labor force, which can contract or expand apart from the growth or shrinkage of jobs.
Here's something you might be interested in.
County unemployment rises — as do jobs numbers
How so?
County unemployment rises — as do jobs numbers
How so?
The county unemployment rate was 4.8 percent in October, up from 4.7 percent in September. The county gained 8900 jobs in the month. Government jobs rose by 6700, and seasonal government jobs rose by 3300, boosted by "return to school" employment.
The unemployment rate was down from 5.1 percent a year ago. The county gained 29,500 jobs year-over-year.
How can an increase in unemployment and jobs occur simultaneously? The unemployment rate is calculated by dividing the number of unemployed individuals by those in the labor force, which consists of persons seeking employment. The rate can go down while the number of jobs rises because the rate is based on the labor force, which can contract or expand apart from the growth or shrinkage of jobs.
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