The BLS has released the unemployment rate for August 2009.
Nonfarm payroll employment continued to decline in August (-216,000), and the unemployment rate rose to 9.7 percent, the U.S. Bureau of Labor Statistics reported today. Although job losses continued in many of the major industry sectors in August, the declines have moderated in recent months.
According to the BLS, this is the highest rate since 1983.
In August, the number of unemployed persons increased by 466,000 to 14.9 million, and the unemployment rate rose by 0.3 percentage point to 9.7 percent. The rate had been little changed in June and July, after increasing 0.4 or 0.5 percentage point in each month from December 2008 through May. Since the recession began in December 2007, the number of unemployed persons has risen by 7.4 million, and the unemployment rate has grown by 4.8 percentage points.
In this month's losers, construction was #1 followed of course by manufacturing.
The U6 unemployment rate is off the charts at 16.8%.
What about initial claims? It has dropped, but clearly people are not finding full time work. Below is a graph from The Washington Post, showing the month to month change.
I also stumbled into something cool. Google has embedded graphs and one can change the data points:
EconomPic has an analysis on part-time work for economic reasons.
As EconomPic notes, part time employees often are denied benefits, i.e. health benefits.