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Unemployment by the numbers

Posted at 8:03 AM on November 7, 2008 by Bob Collins (4 Comments)
Filed under: Economy

The latest unemployment figures came out this morning. They're bad. Read bad. Worse than professional pessimists thought.

The U.S. economy has lost more than 1 million jobs so far this year, the statistics show. The rate edged up to 6.5 percent, the highest in 14 years.

But here's the startling figure in today's report: In the past year, 2.8 million jobs have vanished.

How many is 2.8 million? Fifty-nine thousand less than the total number of people who voted for the three main candidates in Tuesday's election in Minnesota. Imagine every person voting being out of work.

Other data:

  • The unemployment rate for whites is 5.9%. For African Americans it's 11.1%. It's 8.8% for Hispanics.
  • The unemployment rate for women is a full 1% lower than for men.
  • The average weekly paycheck is $611.86.
  • 6.7 million took on part-time jobs in October to help make ends meet. (Note: I believe MPR's Elizabeth Stawicki will have a local story about this on tonight's All Things Considered)
  • Tell your kids to go into the health care business: The industry has added 348,000 jobs in the last year. The mining industry has also added jobs.
  • The sector with the largest increase in employment last month: Government.

    Comments (4)

    Unemployment by the names: I watched as those laid off from my division leave yesterday. :( Goodbye Rande, Gina, Golie, Shane, Pavel, Bryan, Heather, Mitch, Nancy, Mythe, Ladie. Good luck! Hope you find something soon!

    Posted by Al | November 7, 2008 10:19 AM

    I would be one of those statistics, too - or will be at the end of the year when my job goes away. I'd like to say that it's comforting that there are lots of us out there, but I knowing that the number of unemployed is about the number who voted in Minnesota is less than encouraging. Heck, with that number of folks out there, maybe I should dream up my own giant corporation and hire everyone who's looking for work just like me. Gotta be something useful 2.8 million people can do...

    Posted by Anna | November 7, 2008 10:41 AM

    Recounting the senate votes? ;)

    Posted by ..... | November 7, 2008 11:13 AM

    // Tell your kids to go into the health care business: The industry has added 348,000 jobs in the last year. The mining industry has also added jobs.

    There is also a need for teachers and pastors!

    Posted by boB Sinclair | November 7, 2008 3:40 PM

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