A Close Look at Unemployment PDF Print E-mail
Written by Kenneth D'Amica   
Wednesday, 04 June 2008 03:43
As of April 2008 there were 7.6 million unemployed people in the United States, out of a total workforce of 153 million people. Of those unemployed, roughly half are classified as “job losers,” people who lost their job or completed a temporary job, by the Bureau of Labor Statistics. The remaining half is made up of “job leavers,” people who have left their job voluntarily and are searching for a replacement, “new entrants,” who are seeking a job for the first time, and “re-entrants,” who are seeking a job after a period of not participating in the labor force.

The number of “job losers” behaves cyclically with respect to the shaded areas denoting recessions. This number increased 21 percent from April 2007 to April 2008, though the current level is still well below the historic highs that have accompanied recessions. Unemployment due to other factors has remained stable.

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Comments (3)
Unemployment
3 Tuesday, 20 January 2009 03:18
EmersonY
Unemployment is worsening that seem like almost everybody don’t don’t have job. Many investors are pulling out their shares due to anxiety about this recession thus unemployment is becoming alarming. In this kind of situation, can be called, as paradoxonomics, these are when good situations have bad results. Deflation is a similar thing – deflation within an economy is when the values of goods declines and the value of currency goes up. However, there's a big downside: with deflation comes higher unemployment, as employers are forced to let go of employees in order to cut down on operating costs because revenues have fallen. There is good news, however, and that is that the chances of the recession leading to deflation are minimal. But the Feds say things will get worse before they get better, so in the meantime, payday loans can help if you have a financial emergency.
Please Clarify
2 Monday, 16 June 2008 12:45
???
The graph would be much more meaningful if the number of workers was reflected as a percentage of the total workforce.
e.g. the chart presented is only meaningful if the number of people in the total workforce has remained flat between 1967 and 2007.
Update
1 Tuesday, 10 June 2008 09:12
Kenneth D'Amica
The May unemployment numbers came out last week, and they don't look good. Job losers rose sharply, and there were also spikes in Re-entrants and new entrants, which can be a bad signal, since it may reflect an inability of primary earners to make ends meet, prompting spouses and other dependents to look for work.

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