Friday, September 4, 2009

Unemployment rate

The unemployment rate for August is 9.7%, a new high for this recession as the economy continues to lose jobs. (Current report is at, which is not a permanent link.) Alternative measures of unemployment can be found at These measures attempt to add in the effects of discouraged workers and people who are working part time but would like to be working full time. The highest, U-6, which includes both of these groups, is 16.8%.

Update: The teenage unemployment rate rose by 1.7% from the previous month to 25.5% and now is at an all-time high. The rise is consistent with the hypothesis that a rise in the minimum wage will result in job loses for those who have the least skill.

Update: The alterntive measures of unemployment are now at

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