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Unemployment Steady at 7.8%

January 4, 2013

Unemployment remained at 7.8% in December along with the U6 figure, which also stayed put at 14.4%.  I find it interesting that November’s number was initially 7.7%, but got revised up to 7.8%.  Funny how that happened with relative quiet. Although we added 155,000 jobs last month, we need 250,000 to keep pace with population [...]

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Unemployment Drops to 7.7%

December 8, 2012

November’s unemployment rate dropped from 7.9% down to 7.7%, the lowest it has been since 2008.  The U6 unemployment figure is still much higher at 14.4%.  The economy added about 146,000 jobs, but labor participation still remains at a depressingly low 63.6%, which clocks in at the second lowest level since Obama took office — [...]

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Surprise! Unemployment Drops to 7.8%

October 5, 2012

This morning the Bureau of Labor Statistics released their numbers showing a drop in the unemployment rate to 7.8% for the month of September.  The U6 figure, however stayed put at 14.7%.  Given the data that BLS released, many are shocked by the numbers.  Some say that they don’t make sense, while some go further [...]

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Obama Speaks — Unemployment Drops

September 7, 2012

Last night President Obama gave his big speech to the DNC accepting their nomination for President.  Not everyone was impressed.  Many thought it was small, filled with straw men. One angle I was monitoring dealt with this morning’s unemployment report. Because nearly 368,000 dropped out of the job hunt, the unemployment rate actually lowered to [...]

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Unemployment Ticks Up to 8.3%

August 3, 2012

The Labor Department’s July jobs report saw unemployment tick up to 8.3% last month. Even worse, the more complete U6 unemployment statistic rose to 15%!  There were a few new hires, but also plenty of people dropping out of the work force altogether.  Manufacturing shrank, but so did black and Hispanic unemployment.  But, it’s evident [...]

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Bad Day for O: Bill Clinton and Unemployment Sting

June 1, 2012

Anti-growth, over-regulated government engineering and fear-mongering doesn’t work in a free market system — it never has over the long-run.  Keeping the business community wondering what’s going to happen next also doesn’t help. As such, unemployment rose to in May to 8.2%, with the U6 underemployment figure moving up to 14.8%, reinforcing that the economy’s [...]

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Unemployment Drops to 8.1%

May 5, 2012

Why is it that the unemployment rate goes down at the same time more people aren’t working?  Welcome to the Obama Nation in re-elect mode! Unemployment officially dropped to 8.1% (U6 held steady  at 14.5%) in April, but more people left the workforce nonetheless — the proportion of Americans not working hasn’t been this low [...]

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Unemployment Held Steady at 8.3%… or did it?

March 9, 2012

According to the Bureau of Labor Statistics, February’s unemployment rate held steady at 8.3%, with the U6 underemployment number dropping to 14.9%. Using more consistent methods of data gathering, Gallup has February’s number at 9.1% with underemployment at 19.1%. If the BLS counted the people who’ve dropped out of the job hunt, their unemployment figure [...]

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February 3, 2012

The economy continues to stagnate, but some positive signs were found in today’s unemployment report:  8.3% or a 15.1% U6 rate.  Over 243,000 jobs were added last month, but the workforce is still considerably smaller than it was in 2008 and true recovery will take probably most of the decade if nothing changes.  Forty-three percent [...]

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December 2, 2011

Unemployment dropped to 8.6% in the month of November, showing the lowest number since March 2009!  The U6 number also dropped to 15.6%. While good news, it’s not really.  The problem is the way the unemployment numbers are calculated — they don’t count labor force dropouts, which outnumbered new hires by 300,000 last month!  So [...]

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9.1%… Again

October 7, 2011

The first Friday of the month has become Groundhog Day — once again our U3 unemployment is at 9.1%, this time for the month of September.  However, 16.5% of the public is still really out of work.  It’s taking such a toll on the economy and the administration that even Joe Biden noticed, saying: “And [...]

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Recovery Summer? Only a 9.1% Unemployment Rate in July

August 5, 2011

The unemployment rate for July was only 9.1% as the economy added 117,000 new jobs (until the revisions come out, of course).  Even the real unemployment number dropped to 16.1%.  After watching the Dow drop over 500 points yesterday, some will spin this as a sign that the economy moving in the right direction.  However, [...]

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June 3, 2011

Ending a week of unpleasant economic news, America’s unemployment rate is back up to 9.1%, inching up one-tenth of a percent since April.  The U6 rate actually inched down the same amount in May to 15.8%, which can make sense given that the better the job outlook is, the more people will reenter the workforce.  [...]

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Unemployment Back to 9%

May 6, 2011

The seasonally adjusted U3 unemployment figure for the month of April saw the rate increase for the first time since November.  Those currently looking for a job who cannot find one are at 9%.  The “total unemployment rate” (U6) is up to 15.9% for the month of April.  The administration seems happy about these numbers.  In truth, [...]

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March 4, 2011

Today, the February U3 unemployment numbers came out a herculean 8.9% — the first time since April 2009 that we’ve seen unemployment dip below 9%.  Of course, in a few weeks there will be “revisions” or “seasonal adjustments” and the real number could easily be back in the 9 range, but for now this is [...]

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February 4, 2011

Despite the inclement weather, the unemployment rate cheerily lowered from 9.4% in December to 9.0% in January!  Some are quite pleased and the lower number can only mean we’re moving in the right direction.  Right? Unfortunately, no.  The figure being released is the “U3″ number which only counts those still looking for work who can’t [...]

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January 7, 2011

December’s unemployment numbers were released today and on the surface the direction looks positive:  we’re down to 9.4% unemployment from 9.8% in November.  Good news. The bad news is that much of the decline is due to people simply dropping out of their job search altogether.  When the popular “U3″ number changes its denominator, sometimes [...]

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At 9.5%, Let the Recovery Summer Begin!

July 2, 2010

The unemployment rate unexpectedly fell to 9.5% in June as President Obama declared, “Make no mistake, we are headed in the right direction,” though he’d like us to be moving in that direction faster. But, economics ain’t that simple sometimes. The economy lost jobs in June, but the unemployment rate nonetheless went down from 9.7% [...]

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