Area Development
The nation's unemployment rate dropped to 9 percent in October, its lowest level in six months, according to a report released by the U.S. Bureau of Labor Statistics.

However, even though 8,000 non-farm jobs were added, roughly 13.9 million people remain unemployed--and the unemployment rate has been stuck between 9 and 9.2 percent since April.

Looking at the bright side, Secretary of Labor Hilda Solis said 2.8 million jobs have been created over 20 consecutive months of private-sector growth, "including more than one million jobs this year alone. GDP growth in the third quarter was 2.5 percent - the fastest rate in over a year and nearly twice that of the previous quarter. Businesses reported significantly fewer layoffs in October. Consumer and business spending are both up, reflecting Americans' increased confidence in our recovery progress."

However, the mood from the Alliance for American Manufacturing (AAM) wasn't as cheery. "The October jobs report simply wasn't good enough," said Scott Paul, AAM's executive director. "Private-sector job growth wasn't nearly enough to sustain a recovery, and manufacturing was a big disappointment. Manufacturing, which had been contributing an outsized share of growth, fell flat again with only 5,000 jobs added. So we're clearly seeing a slowdown, which should be alarming news to anyone concerned about our manufacturing [sector] and job prospects for Americans who do not possess a four-year degree."

Other highlights from the October report include: