Out of 137 million payrolls, October claims of 484,000 are only 35 one-hundredths of one percent or 0.35 percent. That comparison looks more like the 2001 recession than the really big bad one of 1980 to 1982.
Wednesday, November 26, 2008
Jobless Claims as Percentage of Payrolls
Jobless claims fell slightly last week to 529,000 from 543,000. Yes, it’s a recessionary number, but when you look at jobless claims as a percentage of total non-farm payrolls over the last 28 years, what you find is a much less alarming picture.
Out of 137 million payrolls, October claims of 484,000 are only 35 one-hundredths of one percent or 0.35 percent. That comparison looks more like the 2001 recession than the really big bad one of 1980 to 1982.
Out of 137 million payrolls, October claims of 484,000 are only 35 one-hundredths of one percent or 0.35 percent. That comparison looks more like the 2001 recession than the really big bad one of 1980 to 1982.
