Saturday, November 7, 2009

U.S. Unemployment Rate Hits 10.2%, Highest in 26 Years

The Labor Picture: October 2009


Unemployment Rate Grew 0.4 percentage points in Oct.
Sample chart
One month change
+0.4 pts

One year change
+3.6 pts

Number of Jobs 12-month change, in thousands
Sample chart
One month change
-0.1%

One year change
-4.0%

Discouraged WorkersNot looking for work because of the economy, in thousands
Sample chart
One month change
+14.4%

One year change
+66.9%

Duration Length of unemployment, in weeks

Oct.
1 month change
1 year change
Average
26.9
+2.7%
+35.9%
Median
18.7
+8.1%
+76.4%
People With Jobs Percentage of people who are employed

Oct.
1 month change
1 year change
Employed
58.5%
-0.3 pts.
-3.2 pts.
'Hidden' Unemployment In millions

Oct.
1 month change
1 year change
Part time, but want full-time
9.3
+1.1%
+35.6%
Avg. Weekly EarningsFor rank-and-file workers

Oct.
1 month change
1 year change
Average
$617.76
+0.3%
+0.9%
DemographicsTeenagers continue to have the highest unemployment rate.

Oct.
1 month change
1 year change
White
9.5
+0.5 pts.
+3.5

Black
15.7
+0.3 pts.
+4.4

Hispanic
13.1
+0.4 pts.
+4.3

Teenagers
27.6
+1.7 pts.
+6.9

Education The unemployment rate has risen the most for those with less than a high school diploma.

Oct.
1 month change
1 year change
Less than high school
15.5
+0.5 pts.
+5.1 pts.

High school
11.2
+0.4 pts.
+4.7 pts.

Some college
9.0
+0.5 pts.
+3.7 pts.

Bachelor's or higher
4.7
-0.2 pts.
+1.6 pts.

As the unemployment rate surged to 10.2 percent in October, reaching double digits for the first time in 26 years, it suddenly seemed possible that the nation might yet confront the worst joblessness since the Great Depression.

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