Quick Notes About the Unemployment Rate

• In the last year, those "not" in the labor force rose by 1,693,000
• Over the course of the last year, the number of people employed rose by 1,473,000
• In the last year the number of unemployed fell from 12,806,000 to 12,032,000 (a drop of 774,000)
• Long-Term unemployment (27 weeks and over) rose to 4,797,000 from last month's total of was 4,708,000, a net rise of 89,000
• Percentage of long-term unemployment hopped up to 40.2% from last month's 38.1%. Once someone loses a job it is still very difficult to find another.

Mike "Mish" Shedlock