(un)Employment News

(un)Employment News

The Bureau of Labor Statistics has released the jobless numbers for June 2011.  Observers expected 100,000 new jobs; only 18,000 were created. 25,000 state and local government workers were laid off.  6.3 million Americans have been unemployed for 27 weeks or longer.

The official unemployment rate, the one in the headlines, is 9.2%. The real unemployment rate: 16.2% (includes people who no longer get unemployment benefits, need work but have stopped looking because it’s futile, or have only found part-time work). Learn more here.

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Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

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One Response to “(un)Employment News”

  1. Mike Licht Says:

    Update:

    It’s even worse when you add in “long-term discouraged workers,” a category the BLS has stopped including in the alternative measures. John Williams adds it back in here. It brings current effective unemployment to about 22%.

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