UNEMPLOYMENT UPDATE

We have seen that jobs openings are plentiful, though they are not always in the areas of strongest unemployment and, sadly, many of the unemployed are not qualified for many of the job openings (http://stopcontinentaldrift.blogspot.com/2015/09/jobs-status-as-of-july.html).

Though the "main" unemployment rate looks looks pretty good at 5.1% (preliminary for August 2015), the total unemployment rate that includes those not looking for work and the underemployed (U-6) at 10.3% is still above the 2008 low of 7.9% in December of 2006.  Yet, this rate is remarkably below its high of 17.1% in December of 2009 and is dropping rapidly, about 1.2%/yr.*  If the current trend continues the U-6 should drop to the 2006 low in about  2 yrs.  (The figures in the source article are interactive from which the figures mentioned herein are taken.)

(Click on figures to enlarge)

http://www.cnbc.com/2015/09/04/-the-real-unemployment-rate.html