Jobless rate worse than headlines say
Enviado: 24/9/2003 12:18An analysis of the latest government monthly economic data suggests the unemployment situation is worse than the headlines portray.
August numbers from the Department of Labor found a 6.1 percent unemployment rate, or about 8.9 million people out of work. But in its analysis of other monthly data from the Bureau of Labor Statistics, outplacement firm Challenger, Gray & Christmas Inc. reported the real unemployment rate was 9.1 percent.
Also, the bureau found a surge in August, to 232,000, of people who are self-employed.
Another behind-the-headlines figure concerns young workers. More than half of those ages 16 to 19 are unemployed and have abandoned their job hunt
By: Justin Bachman
August numbers from the Department of Labor found a 6.1 percent unemployment rate, or about 8.9 million people out of work. But in its analysis of other monthly data from the Bureau of Labor Statistics, outplacement firm Challenger, Gray & Christmas Inc. reported the real unemployment rate was 9.1 percent.
Also, the bureau found a surge in August, to 232,000, of people who are self-employed.
Another behind-the-headlines figure concerns young workers. More than half of those ages 16 to 19 are unemployed and have abandoned their job hunt
By: Justin Bachman