Technocrat

New US Labor Stats

zogger
Fri Nov 07 12:35:00 -0800 2008
Jobs.
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The Bureau of Labor Statistics has released the latest revision on the employment situation. It is mostly "a lot less jobs following the trend".

"Nonfarm payroll employment fell by 240,000 in October, and the unemployment rate rose from 6.1 to 6.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. October's drop in payroll employment followed declines of 127,000 in August and 284,000 in September, as revised. Employment has fallen by 1.2 million in the first 10 months of 2008; over half of the decrease has occurred in the past 3 months. In October, job losses continued in manufacturing, construction, and several service-providing industries. Health care and mining continued to add jobs."..full report at the link, with some graphs.

New US Labor Stats
Charles E Hill
Fri Nov 07 13:15:39 -0800 2008
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There was another analysis of this over in a N.Y. Times column that pointed out that the figures used in older labor statistics assumed women were not a part of the potential work force.  If you just count working age men, we're at the highest levels of unemployment since 1948.

New US Labor Stats
Thomas Lord
Fri Nov 07 14:17:59 -0800 2008
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You can tell that just by getting out more :-)

-t

New US Labor Stats
asdfg
Fri Nov 07 18:31:19 -0800 2008
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Just from a personal observation, I would say unemployment during the 1980s recession was worse, so far. But I think we're only beginning to feel the effects in the real economy of the crash. Things will get much worse next year. Hope I'm wrong & BHO can pull a rabbit out of a hat for the country.

 

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