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Federal Reserve Chairman Ben Bernanke said it best, explaining that the United States economy is seeing “frustratingly slow” progress, and the change in the unemployment rate this month attests to that.

The Bureau of Labor Statistics released their Employment Situation Summary this morning and showed an increase of 80,000 jobs in October, which was a little more than half as many as the 158,000 jobs added in September.  The number was weaker than expected but still improved the unemployment rate from 9.1 percent last month to a flat 9.0 percent this month.  The unemployment rate has remained between 9.0 percent and 9.2 percent since April 2011.

Nonetheless, there are still around 13.9 million Americans who are unemployed in the United States, 42 percent of whom have been out of work for 27 weeks or longer.  Additionally, 2.6 million people were not accounted for in the unemployment figures, because they wanted work and had looked for a job within the past 12 months, but were not actively searching for work in October.

To read more about the unemployment rate, click here.

Eric Mally is a writer for Quicken Loans, a company whose clients believe it’s Engineered to Amaze.  Interested in being Amazed by us? Read trusted reviews at Quicken Loans Reviews and at Epinions.

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