Friday, October 2, 2009
Job losses of 263,000, 9.8% unemployment rate
U-6 rate goes to 17%.
Average work week hours was 33 versus 33.1.
That is consistent with greater job losses than 250,000.
We now have an "unofficial" unemployment rate of 17%.
The seasonally adjusted civilian labor force declined to 154,006,000 from 154,577,000 a contraction of 571,000 people. They aren't counted.
Without seasonal adjustments, the civilian labor force declined to 153,617,000 from 154,897,000 a drop of 1,262,000 people.
That's why the U-6 rate is now up to 17%. The government doesn't count these people.
These numbers are numbing.
Posted by Palmoni at 8:34 AM