Tuesday, March 9, 2010

Unemployment Rate Holds at 9.7% Despite The Loss of 36,000 Jobs

The economy lost another 36,000 jobs, but the Unemployment Rate held steady at 9.7%. The reason the official number did not change is once again due to how the number is calculated.


"Given the spin that the Obama administration applied to expectations this week on unemployment numbers, the reality looks rosy by comparison. Larry Summers talked about the severe impact on employment from the mid-Atlantic snowstorms in February, but the unemployment rate held steady at 9.7%. However, employment dropped by another 36,000"

To put this in the contexts of the last few months; after rising to %9.5, 'fake' falling to %9.4, rising to %9.7, and then rising again to 9.8%, and rising again to 10.2%, dropping to 10%, holding steady, dropping to 9.7%, and has held steady.

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