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Comment on U.S. Bureau of Labor Statistics Employment Situation Report – Kathy Bostjancic, Director for Macroeconomic Analysis, The Conference Board

November 5, 2010 - WorkCompWire

Some Good News at Last

 NEW YORK, Nov. 5, 2010 /PRNewswire/ — The U.S. Bureau of Labor Statistics reported today that the private sector added 159,000 jobs in October and the unemployment rate held steady at 9.6 percent.

Today’s gain in private-sector jobs is a welcome surprise, marking three months in a row of more positive gains in private service employment across the retail and other sectors. The gains still aren’t enough to drive unemployment lower but may provide a boost to income for the month of October as well as to prospects for holiday spending. The longer-term question is whether this more favorable news in the labor market will continue after holiday temp workers leave the payroll. This is still a very weak economy in post-recessionary slow expansion. The Conference Board Leading Economic Index® for the United States suggests that overall economic growth will stay sluggish through early 2011.

About The Conference Board

The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world’s leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org

SOURCE The Conference Board

CONTACT: Carol Courter, The Conference Board, +1-212-339-0232, courter@conference-board.org

Web Site: http://www.conference-board.org

Filed Under: Work Force & Human Resource News

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