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Home | Blog | Jobless claims up again

Jobless claims up again

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11/04/2010

This may be the first time I’ve seen news reports on increasing joblessness in which the worsening of the job market was not declared to be a “surprise.” (See here and here.) The fact that this lousy jobs report wasn’t declared “surprising” may be a sign of people coming to terms with reality.

Just as a reminder: Total employment in the United States is still down more than 6 percent from its November 2007 peak, which means there are now 8.5 million fewer jobs than there were in late 2007.

This assessment does not take into account underemployment or declines in wage rates.

 

Ryan McMaken (@ryanmcmaken) is the editor of Mises Wire and The Austrian. Send him your article submissions, but read article guidelines first. Ryan has degrees in economics and political science from the University of Colorado, and was the economist for the Colorado Division of Housing from 2009 to 2014. He is the author of Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.

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