Friday, October 8, 2010

BREAKING: September unemployment unchanged at 9.6%

Chart credit: Calculated Risk blog
Good morning! Fresh electrons from the Bureau of Labor Statistics: the official U3 unemployment rate is unchanged from August at 9.6%. The broader measurement of unemployment (U6) is higher at 17.1%, up from August's 16.7%.

More analysis as commentary rolls in.

Thanks, as always, to Calculated Risk for the chart.

2 comments:

  1. I call bullsh!t. What about all those who've maxed out their unemployment benefits? They magically disappear from the government rosters.

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  2. I also see that statistic as misleading. My bro and his friends had to join the military. Life was stagnant and there were just too few opportunities. Govt is eating up some of the private sector workers, but it also leaves a lot of private sector workers out on their bums because of inefficiency. With the govt taking over 40% of our GDP, I don't think the private sector is expanding at all, it's actually contracting. So even if unemployment goes down a little or stays stagnant, it may just be a sign that the govt is finding new ways to employ people at 10% unemployment. But in terms of meaningful productive, private, employment, that may actually take many more years at the current spending levels.

    http://www.usgovernmentspending.com/us_20th_century_chart.html

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