Unemployment rates, U.S., European and the real rate
U.S. employers cut 85,000 jobs in December. Altogether in 2009, according to survey of employers conducted by the Labor Department, the U.S. economy lost 4.2 million jobs. The survey of households offers a very gloomy scene of the job market, showing 661,000 people left the work force last month. There are some 929,000 discouraged workers who gave up looking for a job, up from 642,000 a year earlier. Combine these discouraged workers and those working part-time for lack of full time employment, the real jobless rate is now around 17.3%.
In Euro zone, situation is as bad if not worse. The number of unemployed Europeans was at 11-year high in November, with close to 23 million workers out of jobs in the EU region. Ireland unemployment rate was almost 13%, while Spain had close to 20% of unemployed people.
Sun Jan 10, 2010 12:01AM by Tony | More in Economy | Comments (0)
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