Friday, May 6, 2011
The nation’s unemployment rate – the result of a separate but simultaneously released survey of households instead of businesses – showed an uptick to 9.0 percent.
That “rate” translates into some 13.7 million Americans wanted to work last month but were unable to find any. That kind of move is statistically significant, and is likely the result of people who were discouraged (didn’t believe there was work available so they didn’t even look) coming back into the mix for a job.
Economists had been predicting a steady state of the unemployment rate at last month’s 8.8 percent, but because the move can likely be attributed to people coming back into the labor force after dropping out, it’s likely a good thing. Several are saying this move is an expected part of the “healing” of the jobs market.
This article was posted: Friday, May 6, 2011 at 10:44 am