6 Interesting Facts About Today's Unemployment Crisis in the United States

According to the Office for National Statistics, the most shocking statistics about unemployment have been uncovered by the organization's economy tracker for unemployment. For the purpose of this article, here are some of the most current and up-to-date facts about unemployment in the United States that might just shock you.

The unemployment rate is considered a "lagging" economic indicator due to the fact that businesses will delay letting go of employees as long as possible when they are facing difficult economic times.

1) At the End of 2008 the Unemployed Rate was 5%

Within a few months of the Great Recession in 2008, the unemployment rate experienced a sharp increase. At that time, the unemployment rate in the United States was five percent, which means approximately 1.6 million people were recorded as unemployed.

 

2) By the end of 2011, 2.7 Million (10%-ish) Americans Were Unemployed

By the end of 2011, the unemployment rate reached a record high of 2.7 million people; this number was the highest that the unemployment rate had reached in 17 years.

Within a three-month period, specifically from November 2013 to February 2014, the number of people who were unemployed in the United States dropped from 77,000 to a whopping 2.24 million. This number accounts for individuals between 16 and 65 years old.

 

3) America Has Lost 7.5 Million Jobs Since 2008

Overall, the United States economy has experienced a loss of 7.5 million jobs since the start of the Great Recession in 2008.

 

4) Unemployed Rate is Current 9.5% and Hasn't Changed In a Year

According to the Office of National Statistics, the current unemployment rate in the United States is sitting around 9.5 percent, and it has not changed for over one year. This means approximately 15 million people in the United States are officially unemployed.

The number of Americans who are claiming "Jobseeker's Allowance" dropped from 30,400 people in November 2013 to 1.14 million in March 2014.

 

5) The Average American Spends 33 weeks looking for a job when unemployed

The average American who is unemployed will spend about 33 weeks searching for a job before one is obtained. Thus, an unemployed worker in the United States will spend 231 days out 365 days in the year searching for employment. 

 

6) For Every Job Opening There are 6 Unemployed People

For every job opening, whether it is an opening for a new job or existing job, there are approximately five unemployed workers in the United States who will be competing to fill the role. To add to this problem, an individual who has been unemployed for under five weeks is three times more likely than an individual who has been unemployed for more than five weeks to obtain full-time employment.

 

Comments

Yukiko
# Yukiko
Tuesday, March 17, 2015 6:32 AM
Memo: New DG to all BBC staffI know that so far all Ie28099ve achieved here as DG is a silgne public appearance where I came over as a shifty glottal-stopping would-be Del boy. Ie28099m not just some drone stuck in management-speak. But I would like to run a few items up the flag pole and see who salutes them. I really want to convince BBC staff that I believe in all the precious stuff that you believe in. Ie28099m on your side fellow co-workers. So here are a few words that stood me in good stead in my former career (excuse me if I have to wipe a tear from my eye): e28098Ie28099d like to teach the world to sing, in perfect harmonye28099 .now I do know that was Coke not Pepsi. But come on guys, it does express exactly what wee28099re all about here at the Beeb, doesne28099t it?So to business. Lete28099s put a saucer of this idea down and see if the cap laps it up?There is an important debate in current affairs over how responsible the last Labour Government may have been for our current economic woes.Let me tell you, a lot of pasta has been thrown at the wall on this one and some of it has stuck.So wee28099re putting a seminar together with BBC staff and, to advise them on this question, a number of completely independent experts in the science of economics .oh for the sake of argument lete28099s say 28?Those selected to inform our output on economics come from a broad range of backgrounds:Ed BallsMargaret MoranEd MilibandDenis MacShaneHugo ChavezKen LivingstoneOwen JonesPolly ToynbeeGordon BrownElliot MorleyHermon Van RompoyJim DevineBernie EcclestoneEric IllsleyBBC staff eligible to attend the seminar will be able to tick the following boxes:Senior Management:Recently e28098stepped asidee28099Recently attended a Common Purpose courseMiddle Management:Own a box set of The KillingTake the Guardian (every day without fail)(Lower Management and even some Sports department staff may be eligible provided they can either talk consistently in metric measurements, can find a racist element in the off-side rule, or can bang on about having done the Great North Run)Now lete28099s tuck that idea in the lap dancere28099s garter and see if the accounts department blushes. 26 likes
Shaffiq
# Shaffiq
Tuesday, March 17, 2015 4:20 PM
that the BBC were right to report the fall in umeeploymnnt in a gloomy way, because we live in grim economic times, because of X, or Y, or Z.But no, you chose to deny the obvious and say that it is only an interpretation to suggest that this news was reported in a gloomy way by the BBC.David Vance said that the fall in umeeploymnnt (pretty significant news on a day on which there are protests across Europe about rising umeeploymnnt) is not being given any prominence on the BBC Internet news portal.But you decide to conflate these two assertions, and declare that the fact that the BBC reported the fall in umeeploymnnt on its television news refutes the claim that they are not giving this news any prominence on their Internet news portal. Now, you are fully aware that these are two different points, but it suits you to conflate them. and (presumably) chalk up your response as a refutation. What a truly pathetic excuse for a human being you are that you feel the need to deny the obvious in order to delude yourself that you are a champion of truth. It is one thing to defend the stance taken by the BBC (I appreciate the means are justified by the end if you are an apologist for bias) but to pretend (to others as well as to yourself) that the BBC is devoid of any agenda (political or otherwise) is the blindness of a worm who lives in a darkness where no light will ever shine.You sad little man. 17 likes
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