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Unemployment rates historically are lower for those groups with higher levels of education. For example, in May 2016 the unemployment rate for workers over 25 years of age was 2.5% for college graduates, 5.1% for those with a high school diploma, and 7.1% for those without a high school diploma.
In a move to protect the broader economy from the over-inflated stock market, the Fed began raising interest rates in 1999, culminating in a market crash and a string of high-profile bankruptcies beginning the following year. Nov 2001– Dec 2007 73 +0.9% +2.8%: Another mild recession occurred in 2001, followed by moderate expansion.
Fall: Booming housing market halts abruptly; from the fourth quarter of 2005 to the first quarter of 2006, median prices nationwide dropped off 3.3 percent. [49] Year-end: A total of 846,982 properties were in some stage of foreclosure in 2005. [50] 2006: Continued market slowdown. Prices are flat, home sales fall, resulting in inventory buildup.
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 is a lagging indicator: employment tends to increase two or three quarters after an upturn in the general economy. [ citation needed ] . In a performance measuring system, profit earned by a business is a lagging indicator as it reflects a historical performance; similarly, improved customer satisfaction is the result of ...
The Sahm Rule, developed by economist Claudia Sahm, says that the US economy has entered a recession if the three-month average of the national unemployment rate has risen 0.5% or more from the ...
But housing experts expect there to be more homes on the market next year as buyers and sellers come to terms with today’s higher-rate world. The housing market has been effectively stuck since ...
Cyclical factors, such as government stimulus or austerity policies, cause the actual unemployment rate to vary around the natural rate. Economists debate the natural rate of unemployment. During February 2011, Federal Reserve economists estimated it may have increased from the historical rate of around 5% to as high as 6.7%.