Read the Bills Act Coalition

Friday, June 5, 2009

9.4 percent unemployment, 16.4 percent if you count part-time workers

Does anyone remember why we were suppose to support the bailouts...one reason was to prevent unemployment from exceeding 8%....just another idea that hasn't quite worked out. From the AP:

With companies in no mood to hire, the unemployment rate jumped to 9.4 percent in May, the highest in more than 25 years. But the pace of layoffs eased, with employers cutting 345,000 jobs, the fewest since September....The much smaller-than-expected reduction in payroll jobs, reported by the Labor Department on Friday, adds to evidence that the recession is loosening its hold on the country. It marked the fourth straight month that the pace of layoffs slowed......Still, the increase in the nation's unemployment rate from 8.9 percent in April underscores the difficulties that America's 14.5 million unemployed are having in finding new jobs. Economists had expected the rate to hit 9.2 percent last month....If laid-off workers who have given up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been 16.4 percent in May, the highest on records dating to 1994.


Read article here: http://finance.yahoo.com/news/Jobless-rate-hits-94-percent-apf-15448590.html?.v=13

3 comments:

Holman said...

There's nothing bad that couldn't be worse.

Jody L. Wilcox said...

you mean ..There's nothing bad as it continues to get worse?

Alter of Freedom said...

Jody Jody Jody...the logic here with the Dems is we have to lose all these jobs to create jobs in the future...you know all those green ones...still waiting and I guess come 2010 we still will be waiting for those "new" jobs!!!!