4%. and the reasons to look at the other number as well. this one is up by 5/10 of a point. these are the four biggest. 74,000 jobs were added in construction, 52,000 in health care. health care is always a big gainer. even through the recession you saw health care jobs increasing largely because of our aging population. transportation added 42,000 jobs. and warehousing added 27,000 jobs. so that s the top line picture of this employment report. i want to dig into this a little more with diane swonk, economist at grant thornton. diane, good to see you. the question i m getting on twitter from people, where does the shutdown figure into this? it s interesting it s more in the unemployment data and also the number of people taking part-time jobs instead of having full-time jobs. that actually added to that u-6, the stress figure of unemployment popped it over 8% during the month. over half a million people
is in this country. that number is so fathers as is. the unemployment number is fiction. this fiction phoney number is what he is selling today. doesn t he have to retract that to be taken seriously by anyone? what he was referring to is there s a number of different ways to slice that. there s a u-1 number, 3.8%, the u-6 is still in the high 7%. what he was referring to at the peak of the crisis he is saying the numbers are phoney. so if i was he could rectify that by saying listen
much for being here, we appreciate. it jake, good morning, thanks for having me. did anything change at the bureau of labor statistics in terms of methodology or who is running the business there. what i think changed is you start to look at some of the underlying numbers. you look at the u 6 number, we can talk already boring your audience, there s things like u-3, u-6. what you should look at is the number of jobs created. we ve thought for a long time, i did, that the obama administration was manipulating the numbers in terms of the number of people in the work force to make the unemployment rate, that percentage rate, look smaller than it was and we used to tell people back home, the only thing you should look at, number of jobs created. and as long as that number is above 250,000, the can economy is doing extraordinarily well. and that was the number we hit last week. just a point, you re not the one that was attacking the numbers as phony. there s nothing that changed t
deeper dive, the u-6, people who left the job market. how many of those people are reflected in this jobs report. what s the real number? you look at that number, it felt a bit from 9.5% to 9.3%, but that unemployment number is at 9.3%. that s still considered high. you look at the 4.6 number, you pull back the curtain and see why the unemployment rate that will be the headline fell. part of the reason is people found jobs. the others is people completely dropped out of the labor force. europe as we know it may be about to change. two more countries could be swept up in the same wave of pop ulitch. will we all be waking up to a much different europe on monday? stay with us. 1 when it comes to healthcare, seconds can mean the difference between life and death.
underutilization, u 6, includes part timers it has fallen by more over the last year over the last month than the official unemployment rate so that s a group that s being helped by a stronger economy. but you re absolutely right, we are not all the way there yet, we are not out of the woods. we have to continue strengthening this economy. and then you and i always talk about that there s the african-american unemployment rate more than double what the national average is and hispanic unemployment also very high there, you see the breakdown. 10.4% and latinos 6.6%. something that just doesn t change that much. it is frustrating and it is unacceptable. it does change though. the overall unemployment rate has come down 1.2, 1.3 percentage points in the last year if you look at african americans or latinos, their unemployment rate has come down by substantially more than that in the last year.