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Layoffs normally increase at this time of year, says John Challenger of the Chicago outplacement firm Challenger, Gray & Christmas. But layoffs last month were down 15 percent compared with a year ago and 30 percent lower than September's rate. "It indicates the labor market is strong now."
One reason the unemployment rate has fallen so low is an increase in the number of self-employed people, according to Mr. Challenger. "The economy has really changed. People want to work for themselves."
Even better news for those about to graduate: unemployment for those with college degrees was only 1.9 percent in October.
Blog post #6326 in category
Economics
posted 6 November 06
