Friday, September 03, 2010

Unemployment rose to 9.6%, but . . .
The U.S. jobless rate rose to 9.6% in August, but the government’s broader measure of unemployment rose even more to 16.7%, the highest rate since April.

The comprehensive gauge of labor underutilization, known as the “U-6″ for its data classification by the Labor Department, accounts for people who have stopped looking for work or who can’t find full-time jobs.
Steve Benen, looks at job losses, because this number has slowly improved and has now showed some jobs created in the private sector.

Which is more indicative of the overall health of the economy? I'm no economist, but when I notice that the unemployment rate is not getting better even though the private sector is adding some jobs, my guess is that these "new jobs" aren't be created fast enough to keep up with the number of people looking for work, which increases as new workers come into the job market. Using a difference statistics that the unemployment rates, doesn't change the fact that the economy isn't really improving or is doing so only sluggishly at bet. Not much to persuade people to vote Dem in November.


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