Friday, July 30, 2010

Are We More Unemployed Now?

Short answer: Yes. Unemployment is higher now than it was when Bush was in office.

Long answer: Yes. Unemployment was high when he took office in Januaury of 2009, at 11919 (number in thousands) when Obama took office. The month before was at 11400, and before that 10617. Did Obama get caught in some of Bush's leftovers? Yes, every president does to some degree. Null point.

At the one year mark of his presidency Barrack Obama hit at 14837, an increase 4220 over when he took office. Unemployment jumped from %7.7 to %9.7, an entire %2 in just one year of office, when Bush left office the percent of unemployment was %7.4 and the month before that at %6.9.

Current unemployment percentage is at %9.5, an increase of %.2. During the Great Depression the peak unemployment rate was %24.9, important to note that the unemployment rate today is calculated differently than it was during the Great Depression era. By the Great Depression era's calculation we would have to add 15 to our existing percent giving us %24.5, just shy of the peak unemployment during the Great Depression.

So where are the jobs going? The same place they've been going for decades, overseas.

Click here to see the data used through this report.

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