(un)Employment Report: No New Jobs

(un)Employment Report: No New Jobs

The Bureau of Labor Statistics has released the jobless numbers for August 2011.

The official unemployment rate, the one in the headlines, is 9.1%. 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). The official rate hasn’t changed from last month, the real rate has grown by a tenth of a percent. Learn more here.

45,000 jobs were temporarily lost in the Verizon strike, and those workers are back on the payroll this month, but the 17,000 government jobs eliminated last month are permanently gone. While 62,000 private sector jobs were added in August, this is no comfort to America’s 14 million unemployed.  More that 6 million of them have been out of work for over six months.

More:

“Jobs report: A big fat zero,” Andrew Leonard, Salon

“Employment Situation Summary” (press release) U.S. Bureau of Labor Statistics

“August Employment Report: 0 Jobs (unchanged), 9.1% Unemployment Rate,” Bill McBride,  CalculatedRisk

“Employment Summary, Part Time Workers, and Unemployed over 26 Weeks,” Bill McBride, CalculatedRisk

“Bush and Cheney remind us how we got into this mess,” Eugene Robinson, Washington Post

“White House: Unemployment Will Average 9 Percent In Election Year,” Brian Beutler, TPMDC

“Can Obama create jobs using his executive authority?” Suzy Khimm, Washington Post blog

Short Link: http://wp.me/p6sb6-b2e

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

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