Marta Russell wrote:
>Someone on this list probably has this figure in their head.
>
>When the U.S. unemployment rate went up from 3.9% in April 2000 to
>4.5% in April 2001 about how many people lost their jobs?
>
>Was it 500,000 or more than than that?
total official employment in April 2000 = 135,706 thousands of workers, 16
years and older
total official employment in April 2001 = 135,354 thousand
net change in official employment = -352 thousand
total official unemployment in April 2000 = 5,524 thousand
total official unemployment in April 2001 = 6,402 thousand
net change in official unemployment = +878 thousand.
If we measure "how many people lost their jobs" by an average of these, it
gives us 615 thousand (net).
these numbers are "net," because some workers got jobs during this year,
despite the general loss of jobs.
However, I find this kind of calculation to be misleading, since it misses
the fact that employment didn't rise to absorb new job-seekers. Despite its
many limitations, the unemployment _rate_ is one of the best indicators of
the ability of the US economy to provide jobs.
Jim Devine [EMAIL PROTECTED] & http://bellarmine.lmu.edu/~jdevine
