Friday, September 3, 2010

Unemployment Rate to Remain Elevated

I relayed this morning that the unemployment report was:

  • Better than expected
  • Shows the U.S. has been adding jobs across the board for the first time in years, thus we may finally be hitting a bottom

I initially wasn't going to show the unemployment rate as it continues to be useless (figures for the number of people that have "left" the workforce are still unrealistically high, pushing the rates below where they should be).

As a result, expect the levels to stay range-bound even if employment picks up as those that had "dropped out" of the workforce "come back".

Source: BLS