Home > Jobs > New Unemployment steady state – 9.6%

New Unemployment steady state – 9.6%


Unemployment was unchanged this month at 9.6%. This is despite losing a net 100,000 jobs. What does that tell you? That they aren’t counting as many people in the overall population. That means more people have stopped looking for work knowing that the situation is not looking good at all.

The number of unemployed persons, at 14.8 million, was essentially unchanged in September, and the unemployment rate held at 9.6 percent. (See table A-1.)

Among the major worker groups, the unemployment rate for adult men (9.8 percent), adult women (8.0 percent), teenagers (26.0 percent), whites (8.7 percent), blacks (16.1 percent), and Hispanics (12.4 percent) showed little or no change in September. The jobless rate for Asians was 6.4 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over), at 6.1 million, was little changed over the month but was down by 640,000 since a series high of 6.8 million in May. In September, 41.7 percent of unemployed persons had been jobless for 27 weeks or more.

 

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Categories: Jobs
  1. yttik
    October 8, 2010 at 09:43

    I think they will come back and “update” those numbers shortly. Some “error” will be discovered and they’ll have to admit unemployment is somewhere around 10.4%

    • October 10, 2010 at 10:32

      You know they will never admit any “error” like that. The reason they changed the way unemployment was calculated in the 90’s was to make it impossible to ever pass that magic “10%” threshold anyway. As more and more people are unemployed they just change the “total number of employable persons” metric, so when the nominator drops, so does the denominator.
      This is a perfect example why government can’t be trusted to keep these kinds of statistic accurate. They have a significant interested to keep them biased low.

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