5 Observations About Our Unchanged Unemployment Rate

More

570 laudu breakfast.png
This just in: the unemployment rate is unchanged at 9.5%. Dan Indiviglio will have the full report with colorful graphs. Here are five things that that jump out at me.

1. SORTA BAD: Private sector employment has increased by 630,000 this year.
2. REALLY BAD: ... but it's closer to 200,000, or 40K per month, if you factor out March and April.
3. LOPSIDED: Health care employment alone accounts for 231,000 new jobs in the last year.
4. DISCOURAGING: There were 1.2 million discouraged workers in July, up by 389,000 from a year earlier.
5. DEPRESSING: June was twice as bad as we thought, since the payroll changed was revised from -125,000 to -221,000.

The news today is especially upsetting, so I've included an especially decadent and delicious breakfast image. It's the little things. Happy Business Breakfast.

9.6 PERCENT
It's not that there's zero good news. It's just that reading the BLS summary to find optimism is a bit like playing Where's Waldo. [BLS]

YOUR MOVE, FED
Bernanke said he might move on monetary stimulus if the jobs report is depressing enough. So is it? [WSJ]

SHE'S OUT
Christina Romer, chair of the White House Council of Economic Advisers, is resigning [WaPo]

TAX CUTS COST SOMETHING?
Republicans are starting to balk at the idea that you don't have to pay for tax cuts [The Hill]

WHAT THE...
Ads are getting weirder and weirder [Gizmodo]



Image via Laudu/Flickr
Jump to comments
Presented by

Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

Get Today's Top Stories in Your Inbox (preview)

What's the Number One Thing We Could Do to Improve City Life?

A group of journalists, professors, and non-profit leaders predict the future of livable, walkable cities


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Adventures in Legal Weed

Colorado is now well into its first year as the first state to legalize recreational marijuana. How's it going? James Hamblin visits Aspen.

Video

What Makes a Story Great?

The storytellers behind House of CardsandThis American Life reflect on the creative process.

Video

Tracing Sriracha's Origin to Thailand

Ever wonder how the wildly popular hot sauce got its name? It all started in Si Racha.

Video

Where Confiscated Wildlife Ends Up

A government facility outside of Denver houses more than a million products of the illegal wildlife trade, from tigers and bears to bald eagles.

Video

Is Wine Healthy?

James Hamblin prepares to impress his date with knowledge about the health benefits of wine.

Video

The World's Largest Balloon Festival

Nine days, more than 700 balloons, and a whole lot of hot air

Writers

Up
Down

More in Business

Just In