Unemployment Figure Soars to 17%
Sunday, October 4, 2009 11:30Fridays employment report was widely reported as the figure came in much weaker than expected. The street was expecting a decline of 150,000 non-farm payrolls for the month of September while the actual figure was 263,000. The official unemployment rate was pushed up by 0.01% to 9.8%. Though the unemployment rate only ticked up by 0.01%, the household survey showed a steep decline of 785,000.
The official unemployment rate would have ticked higher had it not been for a slight data adjustment. The BLS reduced the size of the Labor Force by 571,000. Most of those 571,000 are actually unemployed workers but because they “Gave up” on looking for a job, they were not counted in the calculation. Remember that the official unemployment rate is calculated as follows:
Luckily, the Bureau also releases figures which add back “Discouraged Workers. That figure rose to 10.2%. Better still is their “U-6″ measure of unemployment which adds back discouraged and underemployed (those who can only find part time jobs) workers. That measure of unemployment rose to an eye popping 17%!
Further, The Bureau of Labor Statistics (BLS) indicated that their preliminary assessment of the annual benchmark revision pointed to a sizable downward adjustment of 824,000 (0.6%) jobs lost for the year. In other words, the official understated numbers were even greatly understated this year. The final figures for 2009 won’t be released until February.
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Brian Mallard says:
October 13th, 2009 at 1:36 pm
Only people with brains at the idiot level are not aware of how the Rothschild Cabal uses its puppets in the US government to dispense lies and deception to the public in the form of so called government statistics such as unemployment data and the consumer / producer price indices.
Top Economic News Round-Up: Dollar Collapse, Supranational Currency Plans, and the Pending Financial Apocalypse « Hope2012 says:
October 18th, 2009 at 1:11 pm
[...] Unemployment Figure Soars to 17% – Charting Stocks 10/4/09 [...]
useless says:
October 28th, 2009 at 11:25 pm
this is useless…
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November 12th, 2009 at 8:15 pm
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john says:
November 13th, 2009 at 3:14 am
are you in Jail. suits you
annuitiesquotes says:
February 15th, 2010 at 1:25 pm
That’s good news but still need to have a serious effort and good planning….
paola tomi says:
March 8th, 2010 at 2:05 am
Dear Admin. I am trying to contact the staff of the site but you don’t answer the form and info@ does not work. Could you please give me a working email address or write me at paola.tomi@gmail.com?
M
yesac says:
March 26th, 2010 at 10:05 pm
Nice website but wondering what happened after this post… its dated October 2009 and there are no new entries since then? Hate to see this website die…
f says:
April 29th, 2010 at 7:42 am
why don’t you write anymore?