Stated unemployment is now up to 5.7% seasonally adjusted. The straight figure without adjustment is 6.0%. Neither of these are good signs for the economy. But it’s always interesting to delve below into the figures and see how difference populations are affected. They never report the stark figures for Black Male unemployment which for ages 20 and over is up to 10% that’s an increase of 2.4 percentage points year over year (seasonally adjusted.)
Education has a huge impact on unemployment. For those with less than a high school diploma, the unemployment rate is 8.4%. Compare that with the rate for those with a Bachelor’s degree which is at 2.4% right now. These spreads in percentage points are typical; There’s a lot to be said for finishing college.
U-6 is also an intesting indicator defined as:
Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.
In other words, people who are working part-time because they can’t find full-time work. That’s up to 10.3% this month from 9.9%.
Plenty of other stuff in there. The BLS’ release for July, 2008 can be found at this url.