Saturday, December 5, 2009

Unemployment Rate Drops to 10%

The unemployment rate is still in double digits, but just barely. It has fallen two-tenths of a percent to %10 (from %10.2). unfortunately, the drop in unemployment has less to do with people being hired and more to do with the way the unemployment number is calculated. Still, unless there is a substantial revision, a loss of 11,000 jobs is much better then it has been lately.

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To put this in the contexts of the last few months; after rising to %9.5, 'fake' falling to %9.4 (Berman Post: US Unemployment Drops to 9.4 Percent), rising to %9.7, and then rising again to 9.8%, and rising again to 10.2%, before dropping to 10%.

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