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Today's 10% rise in the Unemployment Rate from 5.0% to 5.5% marks the largest monthly increase since January 1975, and the twelfth largest increase since 1950.
The individual components of the report show that the largest area of weakness was among 16 to 19 year olds (it looks like a lot of kids will be playing video games this Summer). On a positive note, the rate for married men and married women only rose by slightly more than 3%.
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This article has 4 comments:
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CarlosSlim
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120 Comments
My Website
Jun 06 02:06 PMThis proves a $3 trillion dollar endless war in Iraq is good for the economy!
And this also proves that those economic stimulus checks are working!
These NeoConservatives are economic geniuses!!!
//sarcasm
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daniela
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46 Comments
Jun 06 03:59 PMYes, conservatives are good for economy.
This graph is not complete, because it does not connect age, race, gender together, just reports it separately. I would not take this data to the bank, but still interesting.
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beandog
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34 Comments
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Jun 07 11:08 AMbeanieville.blogspot.c...
we think we found the next microsoft.
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jegan ;-)
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764 Comments
Jun 07 03:33 PMAnyway... Aside from the rant, I'm guessing that the issue of unemployment being a teen issue is most likely related to (aside from the obvious recession...) a result of the minimum wage increase. However, I have not seen any State by State numbers, and some States were affected more so than others... And as a secondary comment, it makes you wonder how many older folks have lost their good paying jobs and have had to snag the minimum wage positions that might have gone to the teens...
Thx jegan ;-)