Bankruptcy

Job Losses Continue

By mcbride

As we know, the real job loss figures are worse than those that typically make the headlines in two ways.  Primarily, the numbers reported do not include those people who have jobs, but are way underemployed (the PhD. waiting tables) or those who have given up on looking for a job.  Second, there is a regional aspect to this in that the numbers typically reported are overall, national numbers and the jobless rates very (very much) by geographic region and perhaps by race.  Thus, in certain cities or communities the jobless rate may be huge and the people living there should be prepared for food riots while in other cities, it may be much more akin to ?business as usual?.  That being said, here are the latest numbers on jobs: ?U.S. nonfarm payrolls declined for the 25th time in the past 26 months, falling by 36,000 in February to a seasonally adjusted 129.5 million, the Labor Department estimated Friday?.The nation’s jobless rate was steady at 9.7% as the number of those employed in the household survey rose by 308,000?.The U6 alternative gauge of the unemployment rate, which includes discouraged workers and those forced to work part-time, rose to 16.8% from 16.5%.?

 Here is a link to this unusually informative article on the jobless rate: http://www.marketwatch.com/story/payrolls-fall-36000-jobless-rate-steady-at-97-2010-03-05?reflink=MW_news_stmp

 Michael

Full post as published by Texas Lawyer Blog on March 05, 2010 (boomark / email).