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Unemployment stays high among the most vulnerable. The unemployment rate was 9.8% in August 2009. The African-American unemployment rate that month stood at 15.4%, the Hispanic unemployment rate at 12.7%, and the unemployment rate for whites at 9.0%. Youth unemployment stood at a towering 25.9%. And the unemployment rate for people without a high school diploma remained high, standing at 15.0%, compared to 10.8% for those with a high school degree and 4.9% for those with a college degree.
The unemployed are out of a job for long periods. The average length of unemployment in September 2009 was 26.2 weeks, the median length of unemployment was 17.3 weeks, and 35.6 % of the unemployed were out of a job for 27 weeks or more. All of these indicators are at their highest level since 1948.
Originally posted by Absum!
reply to post by liveandletlive
Talk of recovery is absurd. We will need to be reporting the addition on 1 million jobs EVERY MONTH for the next 12 months to recover.
A million new jobs a month for a year. This is not happening any time in the near future. Maybe 500k a month for 2 years, but right now we are still losing that figure.
We need a miracle.
Originally posted by Linksncontrol
What do you make of this?
If what you are saying is right then the unemployment rate would be around 22.5% (350/15.6). Thats a long stretch from the given 9.8.
This is interesting from bls.gov
"The civilian labor force participation rate declined by 0.3 percentage point
in September to 65.2 percent."
Originally posted by MegaCurious
Originally posted by Linksncontrol
What do you make of this?
If what you are saying is right then the unemployment rate would be around 22.5% (350/15.6). Thats a long stretch from the given 9.8.
This is interesting from bls.gov
"The civilian labor force participation rate declined by 0.3 percentage point
in September to 65.2 percent."
Your math is upside down
The population of the United States is about 304 million. If you wanted to see what percentage 15.6 mil out of 304 mil is, then you do 15.6/304, which gives you only 5% unemployment, which is so good, it makes you wonder why they didn't try to trick us whith those numbers