Unwelcome Unemployment; Statistics Not the Whole Story
Byline: Alfred Tella, SPECIAL TO THE WASHINGTON TIMES
The inching up of the unemployment rate from 9.7 percent in August to 9.8 percent in September doesn't begin to convey the disastrous deterioration of the labor market.
Total civilian employment last month plunged by 785,000 (a change that more than meets the criterion of statistical significance in the government's monthly household survey). Employer-reported non-farm payroll jobs fell less but still by 263,000, more than the August decline in jobs. When civilian employment is adjusted to be consistent with the definition of payroll jobs, the September decline was still a huge 662,000.
The reason the unemployment rate didn't rise more last month is in part traceable to the behavior of labor supply as reflected in the labor-force …
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Publication information: Article title: Unwelcome Unemployment; Statistics Not the Whole Story. Contributors: Not available. Newspaper title: The Washington Times (Washington, DC). Publication date: October 15, 2009. Page number: A23. © 2009 The Washington Times LLC. COPYRIGHT 2009 Gale Group.
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