I love people that think in the end 50, 75 or 100 years from now Bush will be seen as the best President Ever.
Total 2008 job loss: 2.6 million
Annual loss is biggest since the end of World War II. Payrolls shrink by 524,000 in December, and unemployment rate rises to 7.2%.
And don’t forget these Unemployment numbers are massaged too as I indicated before in a Harper’s article. So, most likely they are WAY worse than 1945 numbers, because the numbers weren’t calculated the way they are now. Our truer Unemployment number is closer to 11% right now.
Awesome!
This is the actual number for November.
The real unemployment rate buried in the Federal Government’s data tables, including discouraged workers and those who are considered marginally attached or working part-time because they cannot find full time work, is now 12.2%, the highest it has been in 15 years. This number is up 33% over the past 12 months.
In October 2008 the BLS stated that the U-3 unemployment rate was 6.5%, up from 6.1% in September. The unemployment rate which combines the regularly publicized rate with both those who are “marginally attached workers” and “employed part time for economic reasons” was 11.1% in October 2008, up from 7.9% in October 2007. This composite rate is coded as U-6 in the following hyperlinked BLS table.
The BLS table shows both “not seasonally adjusted” and “seasonally adjusted” unemployment rates. Basically, the seasonally adjusted number attempts to smooth out seasonal variations in unemployment throughout the year.