Saturday, November 22, 2008

The Unemployment Rate

"The number of Americans filing for unemployment benefits approached a 26-year high." Ouch.

Via the Bureau of Labor Statistics.
THE EMPLOYMENT SITUATION: OCTOBER 2008

Nonfarm payroll employment fell by 240,000 in October, and the unemployment rate rose from 6.1 to 6.5 percent.
The unemployment rate rose by 0.4 percentage point to 6.5 percent in October, and the number of unemployed persons increased by 603,000 to 10.1 million. Over the past 12 months, the number of unemployed persons has increased by 2.8 mil-lion, and the unemployment rate has risen by 1.7 percentage points.

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