Boring Unemployment News January 8, 2010Posted by geoff in News.
And this month’s unemployment rate is . . . 10.0%! Same as last month. Here’s the chart:
As has been the case for the past 6 months of unemployment rates, the rate is being suppressed by the number of people who have completely left the job market. In this case, the actual number of jobs is a better measure of how we’re doing:
A cumulative job loss of over 8 million, with not much sign of slowing. Sigh.
[Don’t forget, you can now get the unemployment chart on t-shirts, mugs, and postcards!]
Previous posts in this series:
- The November numbers
- The October numbers
- Initial uemployment claims through the end of November
- Initial unemployment claims through the end of October
- A “million jobs saved?” A drop in the bucket.
- Comparing the administration’s statements to reality
- The September numbers
- The August numbers
- The “million jobs saved” claim
- Initial unemployment filings
- The July numbers.
- The percentage of private-employed workers is steadily decreasing, meaning that the burden of supporting government workers is increasing. How long can this trend continue?
- The June numbers.
- Mark Zandi (Moody’s Economy.com) kind of agreed with the Obama team’s projection back in January. But his predictions weren’t much better.
- Saying that “the recession is worse than anybody thought” is a tired old tune
- Everybody did not “guess wrong” on the stimulus package
- The corrected chart for May.
- The predicted numbers for May from a few days ago, with some thoughts on why unemployment is worse than expected even without the stimulus package (and a hearty discussion in the comments on proper graphing)
- A look at the stimulus package spending – how late it is, and how little thus far has been devoted to job creation (it’s basically gone to pay off states’ social services debts)
- The April numbers
- The original post on the subject, noting that criticisms of the stimulus package may not have been motivated by racism after all.