Unemployment Falls: Recession Fears Ease After Jobs Report

Share
Copy

"Unemployment is so high, and if you really don't have much job growth, I call it the temporary substitution for full-time jobs and that does not bode well for consumer spending," says Roberts. "These people don't go out and spend money they tend to buckle down."

7 Factoids on the State of Unemployment from a list compiled by ProPublica:

Years it will take to get back to an unemployment rate of 5 percent : four years if we're adding jobs at 350,000 per month; 11 years if we're adding jobs at the 2005 rate of 210,000 per month

Unemployed workers per job opening: 4.98

Months that the unemployment rate has been around 9 percent or more: 28

Amount of stimulus money left to be spent: $122.8 billion of the original $787 billion

Annual rate at which the GDP grew this year: 1.3 percent between April and June, 0.4 percent between January and March

The last time the labor force participation rate was lower than it is now: 1984

Number of people who weren't in the labor force, but wanted work, as of June 2011: 2.7 million

Page
  • 1
  • |
  • 2
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...