Strong Hiring in October as Unemployment Rate Holds Steady

Employment Overview The unemployment rate remained unchanged for both the overall workforce and those ages 55 and older, according to the Bureau of Labor Statistics’ (BLS) October Employment Situation Summary. The overall unemployment rate was 3.7 percent and 2.8 percent for those ages 55 and older. The overall labor force participation rate edged up to 62.9 percent while the rate for the 55+ remained unchanged at 40.1 percent. Employment among this age group increased to 36.6 million while 1.1 million …

Labor Force Participation Rate Increases for Those Ages 55+

Employment Overview The economy added 201,000 jobs in August, up from 147,000 jobs (revised down from 157,000) added in July, according to the Bureau of Labor Statistics’ (BLS) August Employment Situation Summary. The unemployment rate remained unchanged at 3.9 percent.  Jobs were added in professional and business services, health care, wholesale trade, transportation and warehousing, and mining. While the overall labor force participation rate edged down to 62.7 percent from 62.9 percent in July, it increased slightly to 40.2 percent …

Unemployment Rate Falls to an 18-Year Low in May

  Employment Overview The unemployment rate reached an 18-year low of 3.8 percent in May according to the Bureau of Labor Statistics’ (BLS) May Employment Situation Summary. Total nonfarm payroll grew by 223,000 jobs, up from 159,000 jobs (revised down from 164,000) in April. The labor force participation rate decreased slightly to 62.7 percent and the number of unemployed persons decreased from 6.3 million in April to 6.1 million in May. The unemployment rate for people ages 55 and older …

Unemployment Drops Below 4 Percent in April

Employment Overview Job growth increased in April as the unemployment rate dropped below 4 percent for the first time since 2000, according to the Bureau of Labor Statistics’ (BLS) April Employment Situation Summary. The economy has added jobs every month for a record-breaking seven and a half years. Total nonfarm payroll grew by 164,000 jobs in April up from 135,000 jobs (revised up from 103,000) in March. The labor force participation rate was down slightly at 62.8 percent and the …

Economy Adds 313,000 Jobs in February

Employment Overview February 2018 was the strongest month for jobs growth since July 2016, with 313,000 jobs added to the economy. Despite this growth, the Bureau of Labor Statistics (BLS) February Employment Situation Summary showed that the unemployment rate for people ages 55 and older increased from 3 percent in January to 3.2 percent in February. The number of unemployed persons ages 55+ also increased, to 1.2 million, up from 1.1 million in January. The percentage of 55+ jobseekers considered …

Employment for those ages 55+ holds steady in November

Employment overview The Bureau of Labor Statistics (BLS) November Employment Situation Summary showed the economy added 228,000 jobs—down slightly from the 244,000 jobs added in October (revised down from 261,000). Both the overall unemployment rate and the unemployment rate for persons 55 and older remained unchanged from October at 4.1and 3.1 percent, respectively. The number of unemployed individuals ages 55+ was also unchanged at 1.1 million and the labor force participation rate for those 55 and older increased slightly to …