Friday, June 5, 2009

job losses go down yet unemployment is still going up

earlier today the new numbers for job cuts and the unemployment rate has been released.

it seems in may companies cut 340,000 jobs this less then the the expected 500,000 job loses.

at the same time the unemployment rate is up 1/2 a percent in May, which means at least 9.4 of Americans that are able to work are unemployed.

while looking at a few places online and listening to the radio it seems that a few people are confused by how unemployment can be up while the companies are cutting less jobs last month. the answer is simple, people are still losing their jobs and those figures will show up in the unemployment figures.

it should also noted that there may have been people that have lost their jobs before May but didn't start to take advantage of their unemployment until last month.

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