September 2008 Unemployment

Today's unemployment claims are 497,000, seasonally adjusted. That's only 1000 more than last week but the number is still on the high end. Tomorrow will see the unemployment figures for September.

I won't be blogging tomorrow so my usual live blogging of unemployment data won't happen. Click here to visit the official BLS site, which will release the data at 12.30GMT / 8.30 EDT.

Unemployment in August 2008 was 6.1%. I doubt that the rate dropped last month. My prediction is a figure between 6.4% and 6.8%. Considering the wild ride that the US economy has gone through in the last month, I wouldn't be surprised if the figure ends up high that 6.8%. I also think that it is almost a foregone conclusion that October 2008 figures (this month) will see the rate climb beyond 7.0%.


Magotty Man said...

Unrelated: I've tagged you over at my blog.

Anonymous said...

OSO! I miss you over at my blog! We didn't chase you away... did we??? I'm still very much interested in what you have to say!