BLS Daily Report, Nov. 20

[Richardson_D <Richardson_D@xxxxxxx>]

RELEASED TODAY: Regional and state unemployment rates generally moved upward
in October. Unemployment rates were higher over the month in 33 states,
lower in 8 states and the District of Columbia, and unchanged in 9 states,
the Bureau of Labor Statistics reported today. The national jobless rate
rose to 5.4 percent in October. Nonfarm employment decreased in 35 states
and the District of Columbia. The regional and state labor market data for
the month of October reflect the impact of the terrorist attacks of
September 11. The labor market had been weakening before the attacks, and
those events exacerbated this weakness. While it is not possible to quantify
the terrorist attacks' effect on employment and unemployment, the broad
impact of these events is evident, particularly in the nonfarm employment
data.

Evidence that the housing market is slowing mounted as new-home construction
fell in October and builders requested permits at the slowest pace in four
years. But many economists still believe the housing market will avoid the
depths of trouble apparent in other economic sectors. The Commerce
Department said housing starts fell 1.3% in October, better than some
economists expected, to a seasonally adjusted annual rate of 1.55 million
units, after rising a revised 0.8% in September (The Wall Street Journal,
page A2, and the New York Times, page C6).

DUE OUT TOMORROW: 2002 Release Schedule for Bureau of Labor Statistics Major
Economic Indicators

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