Friday’s job report was decidedly mixed. Private employers added 67,000 jobs–more than expected, but still tepid. Meanwhile the unemployment rate ticked up to 9.6%, and the U-6 measure of underemployment moved up to 16.7%:
(As you may recall, the U-6 measure includes the officially unemployed, marginally attached workers, and those who are working part-time but want full-time work.)
Both the headline unemployment rate (U-3) and the underemployment rate (U-6) are below their peaks of late 2009, but have basically been moving sideways. That’s much better than the sharp increases in 2008 and most of 2009. But we have a very long way to go.
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The US employment to population ratio continued its ten-year decline dropping to 58.8% in August 2010 from 58.9% in July 2010 — more at:
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