U.S. unemployment rate dropped to 9 percent in October compared to 9.1 percent a month ago, adding 80,000 jobs, fewer that expected by labor market experts. Private companies hired 104,00 people while job positions with the government were cut in numbers, resulting in worse than expected employment figures. According to the U.S. Department of Labor, 158,000 jobs were created in September while 104,000 new jobs positions were filled in August.
The U.S. economy is recovering at slow pace, thus preventing many Americans from finding jobs, experts said. The labor market is affected negatively by the ongoing European debt crisis, adding only 117,000 new jobs a month on average in the past four months of the year. Such a market development cannot revive the labor market, which saw new jobs growing by just 53,000 in April and 20,000 in June , respectively.
Employment level in the industry grew by 350,000 jobs in the past 10 months, with business and professional services sector opening 32,000 new jobs in October. Leisure and hospitality industry hired 22,000 people last month.
Employment in the manufacturing sector remained virtually unchanged in October, while the construction sector closed 20,000 job positions in the same period, and the number of people employed in the government sector falling by 24,000.
Some 6 million American are unemployed for more than six months while the total number of jobless people stood at nearly 14 million in October, the Labor Department said.