Economics Magazine

Unemployment Down to 7.7% But 296,000 Fewer Employed Since January

Posted on the 08 March 2013 by Susanduclos @SusanDuclos

By Susan Duclos
The unemployment rate for February dropped to 7. percent percent, according to the BLS report issued on March 8, 2013 and the unadjusted U6, which is the total unemployment plus all persons marginally attached to the labor force is listed as  14.9 percent for the unadjusted rate and 14.3 percent adjusted.
That news would be better if not for the fact that a record  89,304,000 people were no longer in the workforce in February having risen by 296,000 between January and February. The unemployment rate did not drop because more people are getting work but because more people have left the workforce altogether.
Areas still at or above official unemployment rate: (seasonally adjusted)
Arizona- 7.9%
California- 9.8%
Connecticut- 8.2%
D.C.- 8.4%
Florida- 7.9%
Georgia- 8.7%
Illinois- 8.6%
Indiana- 8.3%
Kentucky- 8.0%
Michigan- 8.9%
Mississippi- 8.9%
Nevada- 9.8%
New Jersey- 9.5%
New York - 8.2%
North Carolina- 9.4%
Oregon- 8.3%
Pennsylvania- 7.9%
Rhode Island- 9.9%
South Carolina- 8.6%
Data obtained from Bureau of Labor Statistics on the Local Area Unemployment Statistics page. (Right side)  


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