Unemployment Rate Darts to 6.5%; Up 40BP from September
November 7, 2008
The nation’s unemployment rate shot up in October, to 6.5%. That marks an unemployment rate which is higher than the downturn the country saw following 9/11, when the unemployment rate peaked at 6.3% in June of 2003. In fact, the unemployment rate hasn’t been this high since 1994.
A chart of the national unemployment rate going back 50-years is below, providing some context to today’s number.
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I heard this morning on NPR that the current calculation of unemployment differes from the calculation used in the ’70s. Thus the historical comparisons may not be correct. If one were to use the historical calcuation today, unemployment would be over 10%. Can anybody confirm what the true unemployment number is compared to historical calculations?
you might want to take a look at this…
http://www.autodogmatic.com/index.php/sst/2007/01/06/p419
you might be able to come up with the real numbers since that is about 2 years old now….