A New Record for Unemployment

The non-farm payrolls figure for March was bad. The economy lost another 663,000 jobs that month. This brought the total jobs lost in the first quarter of 2009 to almost 2 million. Compare that to all of 2008, where “only” just over 3 million jobs were lost all of that year.

At the rate of 2 million a quarter, we would lose 8 million a year… more than 2 ½ times as much as in 2008. This current loss resulted in the unemployment rate rising to 8.5%, the highest reading since late 1983.

The numbers aren’t in yet for April, but another 600k+ jobs are expected to be lost. This would be the 16th straight month of job losses.  The record stands at 17 and at this point, it doesn’t look like we have any choice but to break the record.

Today’s Headlines

Soaring Professions: 5 Career Fields That Have Secure Futures

The U.S. unemployment rate has been gradually declining, but good jobs are hard to come by for millions of Americans. When business setbacks occur, companies … [Read More...]

Today’s Most In-Demand Medical Jobs

One of the professional fields that continue to hire personnel at consistently high rates, despite economic downturns, is the medical profession. It is … [Read More...]

August Unemployment Numbers

The U.S.Bureau of Labor Statistics (BLS) released the August unemployment numbers today. The BLS Commissioner says: "Nonfarm payroll employment increased by … [Read More...]

4 Ways Small Businesses Are Changing Ancient POS Trends

As a business owner, it is important that you set up convenient payment options for your customers to use when buying your products or services. An … [Read More...]

Unemployment News

BLS Monthly Employment Report for April

The US economy added 160,000 "seasonally adjusted" jobs in April, the lowest figure in the last seven months. The adjusted U-3 unemployment rate remained steady at 5%. The Unadjusted U-3 fell to 4.7% while the … [Read More...]

More Posts from this Category

About Tim McMahon

Work by editor and author, Tim McMahon, has been featured in Bloomberg, CBS News, Wall Street Journal, Christian Science Monitor, Forbes, Washington Post, Drudge Report, The Atlantic, Business Insider, American Thinker, Lew Rockwell, Huffington Post, Rolling Stone, Oakland Press, Free Republic, Education World, Realty Trac, Reason, Coin News, and Council for Economic Education. Connect with Tim on Google+

Speak Your Mind

*