Friday, September 4, 2009

Unemployment Data

Unemployment reaches 9.7%

Unemployment for adult men is 10.1%

Underemployment also rose in August: "another 298,000 workers involuntarily working part-time. This number now stands at 8.9 million, or 5.8 percent of the labor force"

The stimulus has helped slow down the rate of job losses but has not been sufficient to increasing hiring.

Today's WSJ has an article titled "States Shut Down to Save Costs." If states replace furloughs with job cuts, as some conservatives advocate, we will see skyrocketing unemployment.

Cutting off stimulus spending too early will imperil the economy.

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