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A rough comparison of September 2014 (when the unemployment rate was 5.9%) versus October 2009 (when the unemployment rate peaked at 10.0%) helps illustrate the analytical challenge. The civilian population increased by roughly 10 million during that time, with the labor force increasing by about 2 million and those not in the labor force ...
In 2003, prior to the significant expansion of subprime lending of 2004-2006, the unemployment rate was close to 6%. [52] The wider measure of unemployment ("U-6") which includes those employed part-time for economic reasons or marginally attached to the labor force rose from 8.4% pre-crisis to a peak of 17.1% in October 2009.
The unemployment rate peaked at 10.0% in October 2009 and did not return to its pre-recession level of 4.7% until May 2016. [98] A key dynamic slowing the recovery was that both individuals and businesses paid down debts for several years, as opposed to borrowing and spending or investing as had historically been the case.
The unemployment rate now stands at 9.8 percent, we learned Friday morning and, to quote Claude Raines in Casablanca, the market was shocked -- shocked! -- by the news, at least initially.
Yet another record the U.S. labor market would rather not achieve: Continuing claims for unemployment benefits jumped 161,000 to a record 5.73 million, the U.S. Labor Department announced Thursday.
The news that the unemployment rate hit a 16-year high, to 7.2% in December, and that 2.6 million jobs were lost in 2008 -- the most since 1945, is bad news that is only going to get worse as 2009 ...
The U.S. unemployment rate peaked at 11.0% in October 2009, the highest rate since 1983 and roughly twice the pre-crisis rate. The average hours per work week declined to 33, the lowest level since the government began collecting the data in 1964. [40] [41] The economic crisis started in the U.S. but spread to the rest of the world. [35]
A year ago, most economists were projecting fairly mild unemployment for the U.S. this year. Most were forecasting a range of 7 to 8 percent. In February, the figure has already gone beyond that.