U.S. unemployment falls a bit to 6.1 percent

[underpants]

Employers cut 93,000 jobs in August, according to figures released Friday by the U.S. Bureau of Labor Statistics.

The national unemployment rate fell slightly to 6.1 percent from 6.2 percent the previous month, with about 8.9 million people out of work. About 1.9 million people had been unemployed for 27 weeks or more.

http://sacramento.bizjournals.com/sacramento/stories/2003/09/01/daily30.html

And now for the graphic representation.

[LeftCoast]

1. Ah, but did it really fall, or did folks just give up looking?

6.1% only accounts for those actively looking for work.

[PROGRESSIVE1]

2. They just gave up looking!

The real numbers are at about 10 percent!!!

[underpants]

5. 93,000 jobs lost but the rate goes down

That is what I was looking for. Not actually mentioned in the article though.

[chiburb]

3. This was news on Sep. 5...

Or am I missing something?

[ET Awful]

4. BUT . . .

That .1 percent drop is mostly attributed to people who quit looking for work and removed themselves from the workforce. Thus, this number isn't an accurate representation.

edit: Great minds think alike, y'all beat me to it :)

[pmbryant]

6. News from Friday... locking

Sorry, but this doesn't fit the official definition of 'latest breaking news' (last 12 hours).

pmbryant
DU Moderator

[mhr]

7. Good Article on Unemployment Rate(s)

Many do not not know that the US Government keeps six separate unemployment rates U1-U6.

U3 is the commonly reported rate reflected in the chart. The more inclusive and reflective rate is U6. This includes, among others, U3 plus discouraged workers and the long term unemployed.

See the article here:

http://www.kansascity.com/mld/kansascitystar/business/5962629.htm