Posted on 09/03/2010 5:51:32 AM PDT by kabar
Nonfarm payroll employment changed little (-54,000) in August, and the unemployment rate was about unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment fell, as 114,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment continued to trend up modestly (+67,000).
Household Survey Data
The number of unemployed persons (14.9 million) and the unemployment rate (9.6 percent) were little changed in August. From May through August, the jobless rate remained in the range of 9.5 to 9.7 percent. (See table A-1.)
Among the major worker groups, the unemployment rate for adult men (9.8 percent), adult women (8.0 percent), teenagers (26.3 percent), whites (8.7 percent), blacks (16.3 percent), and Hispanics (12.0 percent) showed little change in August. The jobless rate for Asians was 7.2 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)
(Excerpt) Read more at bls.gov ...
Yes, the number they give is called U2 (if I’m not mistaken), and it does not count the so-called “discouraged”, those whose unemployment has run out and who aren’t really looking because they know no one is hiring. If you count all those people, you get the number called U6, and it is around 16%-17.5%. But that’s probably undercounted too and the real number is around 20%.
But hey, that means 80% still have jobs, right?
So if all the unemployed stopped looking for work would the unemployment rate hit 0.0%?
Where’s Biden’s Recovery Summer?
“almost unchanged” = almost accurate.
But hey, Wall Street thru a Party this week, we lose 54K jobs, have a National Debt increase of $80 Billion in one day this week. We are 120 days from a massive tax increase.
These guys must be sniffing paint on the way to the trading floor.
Major Garret in his last salvo, posed this question to Obama: Do you regret calling it Recovery Summer?
Soon we'll all be going on the Depression Diet.
This is all bogus.
It has been bogus since they changed the way unemployment is counted back in the 60s-70s. Used to be employment was those who had full time jobs, everyone else was counted as unemployment.’
Using the old system, real uneployment is well over 23% and into Great Depression numbers.
Forget the importance of a Double Dip Recession!
The GREATEST problem facing this country today is the incompetence of the Double Dips in the White House (0bama and Biden).
Those 2 Dips are far and away the biggest threat to our jobs and prosperity than are any slowdown in the economy.
That’s right; then we’ll have homeless people again, and the real topper (for the country with the most obese poor people): “hunger in our cities”.
How was part-time employment handled? There are those who only want to work part-time. Obviously now, that tends not to be the case.
“How was part-time employment handled?”
They were considered unemployed ... only full time people were counted.
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