Friday, January 09, 2009

Unemployment Rate

The national unemployment rate rose to 7.2% in December, reaching a sixteen year high with over 11 million Americans unemployed. The New York Times published an article today that predicts that the "rapidly deteriorating economy promised more significant losses in the months ahead". According to information released today by the U.S. Labor Department, 2.6 millions jobs were lost in 2008, the most since 1945 when 2.8 millions jobs were lost.

To find statistics on the unemployment rate for previous years, the Bureau of Labor Statistics provides Labor Force Statistics in graph form.

1 comment:

Roger Owen Green said...

Figures collected for Reuters by John Williams, from the electronic newsletter, suggest that...if unemployment were still tallied the way it was in the 1930s, today's jobless rate would be closer to 16.5 percent -- more than double the stated rate.
He and other critics have one particular sticking point with the current way of measuring unemployment: the treatment of discouraged workers.