• 36,000new jobs in January (really freaking low)

• 9.8% November’s really high unemployment rate
• 9.4% December’s falling unemployment rate
• 9.0% January’s rate; how did it dip so far? source

• » Explaining exactly what happened: We’ve seen three perfectly valid arguments for why this disparity between slow job growth and deep unemployment decline took place. The first is pointed out by a Gallup chart that shows that non-seasonally-adjusted unemployment is actually at 9.8 percent – suggesting seasonal adjustment is skewing the numbers. The second suggested reason is much more sinister-sounding: Unemployment benefits for so-called 99ers are starting to run out, and they aren’t looking for jobs, meaning that they are no longer covered as part of the total amount. Finally, the weather sucked in January, with snow covering most of the country, so that could be a possible explanation too. So, which one is the case, anyway?

Posted by Ernie Smith • Permalink