March 24, 2017

Unemployment Goes Down

Even though the unemployment rate remained 9.6% in September, there was a loss of 95,000 jobs, according to the unemployment report [.pdf] released today. While there was a modest gain of 64,000 jobs in the private sector, this gain was offset by a loss of 159,000 government jobs, including 77,000 temporary census workers and the rest from local governments. Educational jobs made up the majority of local government jobs that were lost in September. Moreover, the unemployment rate has been at or above 9.4% since May of 2009 or for 16 consecutive months – surpassing the recession in the early 80’s that had 15 consecutive months of unemployment at or above 9.4%. As a result, to find a streak that is worse than the present takes one back to the 1930’s, with the Great Depression – a comparison that is unfavorable during any election cycle.

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