Friday, September 2, 2011

Unemployment unchanged from July at 9.1%; U6 up 0.1% to 16.2%

Graph credit: Calculated Risk
Fresh electrons from the Bureau of Labor Statistics: the national unemployment rate was unchanged from July at 9.1%. The broader measurement of unemployment (U6) was up 0.1% to 16.2 for August.

Unfortunately, the bigger news is that there were basically no new jobs created in August; the private sector created 17,000 jobs while the governmental sector lost 17,000.

Credit for the graph, as always to the Calculated Risk blog. 
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2 comments:

  1. Dr. ZoidbergSeptember 2, 2011 at 4:58 PM

    I'm no financial expert, but I thought this article about the current state of CEO/avg worker pay was interesting. It does touch on the lack of job growth or delivery of value to shareholders.

    http://finance.yahoo.com/blogs/daily-ticker/where-gone-jack-welch-ceo-pay-rise-while-193022445.html

    ReplyDelete
  2. AnonymousSeptember 6, 2011 at 4:59 AM

    "Joseph Peabody said...

    Interesting data curves. For all recessions, a roughly symmetrical, parabolic curve of job loss percentages seems to hold. Extrapolation of the current recession indicates that the job loss phase will be over 18 to 20 months from now." -

    http://chemjobber.blogspot.com/2010/01/noise-januarys-set-of-unemployment-data.html

    ...uh, it's about 20 months later....

    Wow, let's really highlight this now, "This Is Not a Recession Anymore" This is the way the U.S. economy will likely remain for a long time. Look back in history, for the most part the U.S. has been bogged down in wars (WW1, WW2, Korea, Nam....Libya?), faced dire economic conditions (inflation, stagflation, depression, great recession) and generally imprisoned as much people as possible (we're #1 per-capita).

    Stop thinking a robust economy that was able to support dynamic careers in the 1990's was somehow normal. That is a blip in the history of humanity.

    Underemployed PhD chemists? I've actually been told that was completely normal back in the old days. The 1990's-2000 employment situation for chemists is quite simply unlikely to occur again. It wasn't normal, today's employment is actually normal.

    ReplyDelete

looks like Blogger doesn't work with anonymous comments from Chrome browsers at the moment - works in Microsoft Edge, or from Chrome with a Blogger account - sorry! CJ 3/21/20

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