David Leonhardt on the Americans behind the 8.1 percent unemployment rate

Friday, March 06, 2009

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A 10-year unemployment chart shows recent increases in the current recession. The jobless rate reached 8.1 percent in February 2009. (U.S. Bureau of Labor Statistics)

David Leonhardt, New York Times "Economic Scene" columnist, listens to your stories about unemployment and breaks down the 8.1 percent unemployment rate for February 2009.

The U.S. Bureau of Labor Statistics has more details and numbers.

Guests:

David Leonhardt

Hosted by:

Farai Chideya

Comments [1]

NABNYC

The Bush-Cheney Depression.

The January 9 Department of Labor report showed 10 million workers who are not officially included in the unemployed category, but should be. This includes people whose hours have been cut to part-time but who want full-time, and people who have been cut from the unemployment compensation rolls. By the end of last year, it appears the actual unemployment rate (including these categories) was in the 12-14% range.

That's one reason the public's obsession on homeownership and "rescuing" people who are behind in their mortgages is exceedingly short-sighted: We Need Jobs. With living wages.

Unemployment is the biggest issue of the current crisis, but is not receiving the attention that it should. What happens if we reach 25% unemployment?

See 1/22/09 comment "Unemployed Americans," at http://nabnyc.blogspot.com/2009/01/unemployed-americans.html.

Mar. 06 2009 12:45 PM

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