GOVERNMENT STATISTICS

by

Charles T. McGrath

 

 

The Department of Labor reported today that nearly 1/4, (22.4%), of the 13,450,000 unemployed are jobless while 32% of the remaining 33% are optimistic of finding a job while only 6% of those unemployed for one year or longer feel less optimistic than the 17% who agree with 83% still eligible for unemployment insurance.

Supporting Dept. of Labor statistics is of the 13.4 million unemployed 87% say half their time is spent looking for work while 16% claim the other 63% are flooding the market reducing job openings by 44%.

However, holiday spending was up 2.3% over last year which indicates that 52% of consumers felt optimistic about 25% of the time which concluded at year’s end. Of the 13.4 million unemployed 69% has been unemployed 56% of that period when unemployment was at 9.2%. Although it is dangerous to predict, 39% of the unemployed, if the trend continues, should be so only 42% of the time lowering the national unemployment to 8.54%. Continuing the growth rate at 0.04% one third of the time.

The jobless rate should be more conclusive after the numbers of families participating in the Food Stamp program are released next week.

 

GSO

C.HIGGINGS THORNBY