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HomeUnemployment Report: January 8, 2010
Posted by Larry Doyle on January 8th, 2010 9:09 AM |
The widely anticipated January Unemployment Report covering the month of December was just released. Let’s dive right in and take a look at the numbers . . .
I. UNEMPLOYMENT RATE
August: 9.4%
September: 9.7%
October: 9.8%
November: 10.2%…revised to 10.1%
December: 10%
– January Consensus Expectation: 10.0%
– January Actual: 10.0%
>> LD’s comments: unchanged on the month, in line with expectations. The November rate was revised from 10.2% to 10.1%. The underemployment rate worsened to a rate of 17.3% from 17.2%. How do I read this? The rate of decline may be flattening, but there is absolutely no reason to believe this is destined to improve, especially anytime soon. The fact that the underemployment rate inched higher is a stronger sign as to the real health (or illness) of the labor market. (more…)
