Rise In Unemployment Rate Worries Americans

September 6th, 2010 - 6:15 pm ICT by Pen Men At Work  

September 6, 2010 (Pen Men at Work): Checking the unemployment report on a daily basis has been the habit of most Americans, post recession. The report tells them of the increase or decrease of the jobless in the land as well as the number associated with it.

The Labor Department of the country recently issued a press release in which it declared the numbers to be unchanged. A second reference however said that it had changed by just a little. The actual statistics reveal that the rate showed a 0.1% increase from 9.5% to 9.6%.

Gary Steinberg, the spokesman for the department defended his stand by stating that the government considers the numbers to be changed only when there is a 0.2% or higher change otherwise the status remains unchanged. The 0.1% shift is not considered to be enough to categorize the rate as an increase.

The Bureau of Labor Statistics said that while a steady increase of 0.1% for more than a month in a row would be acknowledged as a significant statistical pattern, it can only be described as an upward trend.

The Bureau also stated that it made an effort to issue the data in such a manner so as not to influence the general public into interpreting it incorrectly.

Steinberg also revealed that they usually hold meetings to agree upon the language that should be used so that the data remains free from any kind of political connotations.

Sung Won Sohn, an economist from the California State University based in Channel Islands says that while the statistics do make sense, the data about the rise in unemployment simply highlights the fact that the labor market is not improving in the country, nor is there any indication of it improving soon.

The lack of new jobs in the market is liable to push the unemployment rate over 10% by the end of this year, say the economists, which is indeed a cause for worry.

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