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NewsFlash: November 3, 2006

Unemployment low, but job growth slowing

Though the unemployment rate fell to a low 4.4%, job growth over the last three months is clearly slowing down as just 92,000 new jobs were added last month, according to analysis by EPI senior economist Jared Bernstein in today’s  Jobs Picture.  The slumping residential housing industry is putting the brakes on related jobs and accounts for part of the recent overall slow down.  So far this year, housing-related jobs are down 26,000, compared to a gain of 245,000 over the same period last year.  See the full analysis of the jobs report and the unemployment rate with graphics in the  Jobs Picture .

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