October Unemployment Rate Down to 4.7%

Unemployment rate dropped to a 10-year low of 4.7 percent in October, an improvement from the 5.6 percent in October 2015, as the number of employed reach 41.7 million. The country has a labor force of 68.7 million, up from 66.6 million last year. The services sector is the top contributor at 54.9%, followed by industry with 17.2%. For the year, the rate is expected to be at 5.5 percent, well below the government’s target of 6.5 to 6.7 percent…

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