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Friday, April 02, 2010

Unemployment Rate Holds Steady at 9.7%

My take on the employment report (buttressed with graphs and quotes from Dean Baker):

Unemployment Rate Holds Steady at 9.7%

Like Dean, I wasn't very impressed with the report.

Update: David Altig:

Updating a calculation referenced in a speech by Atlanta Fed President Dennis Lockhart on Wednesday, at a pace of 162,000 jobs added per month and at the current labor force participation rate, unemployment this time next year would still be just north of 9 percent.

And it's unlikely that labor force participation will hold constant. Instead, it's likely to increase. If so, then the unemployment rate will be even higher.

    Posted by on Friday, April 2, 2010 at 09:37 AM in Economics, Unemployment | Permalink  Comments (52)


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