Unemployment Rate Hits 25-Year High
Pretty grim. The Times covers it here and its economics blog has this to say: “It’s still too early to call this the worst recession since the Great Depression. But it’s bad, and it’s still getting worse at a rapid rate.” On a more positive note, a Siena College survey just found that New Yorkers’…
Pretty grim. The Times covers it here and its economics blog has this to say: “It’s still too early to call this the worst recession since the Great Depression. But it’s bad, and it’s still getting worse at a rapid rate.” On a more positive note, a Siena College survey just found that New Yorkers’ consumer confidence rose 3 percentage points last month, while the national rate fell 5 points.
Christopher, your post makes no sense. You need to distinguish between the number of unemployed humans and the percent that is unemployed.
newsouthsloper,
I agree about the definition of pool, but I would argue the pool is actually larger than it was 20 years ago.
The ’90s had the biggest population boom in American history, greatly raising the level of entry level employees in the 18-64 metric.
Also, people are living longer and retiring later so the % of 55-65 year old’s working today is higher than 20 years ago when the “normal” retirement age was 55 (instead of 62 as it is today).
As of 2007 60% of the population was between age 20-64.
I think the pool is greatly increased compared to 1988.
“That would be a resounding no for me, What. Can you pass me some skittles please?”
No Biff, The skittle I’m talking about comes from the Ass of the Unicorn. That’s the whole joke Biff. Dumbasses looking for the Skittle S****ing Unicorn! But Biff these are some strange days and I hope we can make it thru no matter what I say…
The What (Taste the rainbow)
Someday this war is gonna end..
Christopher, its the rate that has increased.
“Now do you still believe that prices will hold up in “Brownstone Brooklyn”????”
That would be a resounding no for me, What. Can you pass me some skittles please?
Christopher –
nemployment is based on the “pool” of eligible employees (i.e. 18-64, seeking employment, legal citizen, not in jail, etc.)
This pool has undoubtably shrunk in the last 20 or so years.
Well can we say this is a trend? Like the Collapse of the Mutant Asset Bubble??? That’s why the posts are up at Brownstoner! Now do you still believe that prices will hold up in “Brownstone Brooklyn”???? Dumbasses!!!!
The What (Taste the rainbow)
Someday this war is gonna end…
How’s this for a theory…
… as population increases so will the % of layoffs in downturns. More people working, more to layoff…
25 years from now the population will be bigger so when we have another downturn I bet we’ll see “Unemployment Rates hits highest level since 2009”
But then again, while the population increases the unemployment rate stays within a general percentage range, say 3-10%. So maybe 97% employment is the best we can ever do…
just thinking out loud…
We still convinced that our homes are worth millions and millions. Maybe in Bananna Republic currency.