Unemployment Jumps to 9.7 Percent: 10.1% UE for men = post-war high.

[Hannah Bell]

By Dean Baker

September 4, 2009

The 10.1 percent unemployment rate for adult men equals the prior post-war high.

The unemployment rate hit 9.7 percent in August, up from 9.4 percent in July. According to the establishment survey, the economy shed 216,000 jobs in August. In addition, the job loss numbers for June and July were revised up by 49,000. This puts the average rate of job loss over the last three months at 318,000 per month.

The rise in unemployment in August was disproportionately among men, with the unemployment rate for adult men rising to 10.1 percent. By comparison, the unemployment rate for adult women is 7.6 percent. Before the recession, the unemployment rates for men and women were essentially equal. The 10.1 percent unemployment rate for adult men is equal to its previous post-war high in December of 1982.

Underemployment also rose in August, with another 298,000 workers involuntarily working part-time. This number now stands at 8.9 million, or 5.8 percent of the labor force. This is the same rate as the prior peak in January of 2003. Most of the other data in the household survey is consistent with a labor market that is still weakening. The percentage of unemployment attributable to voluntary quits dropped to 5.5 percent, another record low. The number of discouraged workers is almost exactly double the August 2008 number. And the U-6 measure of labor market slack rose to 16.8 percent, 0.3 percentage points above the 16.5 percent peak hit in June.

http://www.cepr.net/index.php/data-bytes/jobs-bytes/jobs-2009-09/

[KillCapitalism]

1. Ever check out what the unemployment rate is in Zimbabwe?

That's where we're headed IMO.

[Name removed]

2. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Hannah Bell]

3. & plastic lollipops are verrry nourishing. one month ago posts on the "downtick" in employment

were very evident on this board.

9.4% is now 9.7%, & i'm posting "doom & gloom".

no, i'm posting the unemployment rate.


in my town, UE = 15%. two people on my block have been laid off nearly a year. nearly everyone i know is on short time, furlough, losing their business, pay freezes, out of college & can't get work, etc.

so eat your plastic lollipops & i'll keep posting the UE numbers.

[SergeStorms]

4. Truth now equals right wing propaganda?

The official unemployment rate stands at 9.7%. That's a fact. The unofficial unemployment rate is much higher. MUCH higher. You can ignore those figures, and call them right wing propaganda, but they still remain as fact. Since when is self delusion a plank in the platform of Democrats?
Doom and gloom? Yes, it is rather gloomy. It just means we have to fight harder for the programs that are going to lift us from this malaise. No one said, "let's give up", or "let's impeach Obama". Facing the truth head-on is the only way to make any progress toward bettering the situation. Pretending it doesn't exist is not only foolish, it's downright unpatriotic. If we care about this country we have to deal with it's realities.
We're all in this together. Let's get busy. :hi:

[fasttense]

5. Thanks for posting the facts.

I don't like my data sugar coated. This tells it straight.

You can't make an educated decision if you don't have all the facts.

[Hannah Bell]

6. some prefer sugar. negative recs.

[Hannah Bell]

7. k