Sunday, October 9, 2011
New Unemployement Stats
On Friday, the United States' Bureau of Labor Statistics released the newest stats on Unemployement which remained constant at 9.3% despite the addition of 103000 jobs. The number of people unemployed is around 14 million people. One reason for the gains in jobsis a strike with telecommuncion that went on during August. The job gains were in professional and business services, health care and construction. Teenagers have the highest percent unemployed at 24.6%. The percent of adult men and women are pretty close at 8.1% and 8.8% respectively. The GDP may be growing but companies have yet to start to hiring with a fear about the economy still lingering. With Europe's economic problems in Greece and many other failing countries, America is scared that it will affect our economy and cause a second recession to strike. Unemployment is also a lagging indicator that tends to not go down until the recession is completely over. America needs something to get more jobs as these stats show. But What?
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2 comments:
The current unemployment rate despite the addition of new jobs could be due to a population growth. And are all of the teenagers that are able to work working? Are those people counted in the unemployment statistics?
I think that it is fairly obvious that the Euro crisis will affect the U.S. economy (http://theweek.com/article/index/106091/will-europe-derail-our-recovery). However, I also think that the U.S. needs to do more in terms of helping the economy (like passing the jobs plan) in order to negate the effects of the Euro crisis and perhaps push the economy forwards.
The teenagers that are counted in the unemployement rate are the ones searching for work and those are the ones included in the stats.
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