Friday, September 3, 2010



The Bureau of Labor Statistics released the employment data for the month of August today. The unemployment rate went up slightly to 9.6% despite the economy gaining 67,000 jobs in the private sector. More disparaging numbers are the unemployment rates of select populations. The unemployment rate for blacks is 16.3%, Hispanics 12.0%, while whites are at 8.7%.

These numbers are still really high and no true recovery can take place when a large portion of workers are without a job. The goal of most economies is to maintain a low and stable unemployment rate somewhere around 4-5%. As you can see, we still have a long way to go.

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