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Friday, September 2, 2011

What was the Unemployment Rate When Obama Took Office? (August update)

What was the unemployment rate when Bush left office and Obama took office?  7.7%


How high did it go?  What is today's (August's) unemployment rate?   Details below....

How many people were looking for work when Obama was inaugurated, how many were working?  And how many people are looking for work and how many are employed now? 





The Unemployment Rate when Obama took office:
  • For the record, when Obama took office in January 2009, the "official" unemployment rate in seasonally adjusted numbers was 7.7%, with 11,919,000 people reported themselves as unemployed and actively looking.  142,221,000 people were working in January 2009.. 
  •  In "raw" numbers not adjusted for seasonal variance, the unemployment rate was 8.5% with 13,009,000 people reporting themselves as unemployed and actively looking for work.  140,436,000 people were working in numbers not adjusted for seasonal variance.


The Unemployment Rate at its Peak: 
  • At the "trough" (bottom in terms of jobs) of the recession in late 2009/early 2010, the "official" unemployment rate in seasonally adjusted numbers climbed to 10.1% in October 2009 with 15,612,000 people (out of a labor force of 153,854,000) reporting themselves as unemployed.   138,242,000 were working in October 2009; however, the lowest number of people working was reported in December 2009, when 137,792,000 people (in seasonally adjusted numbers) were working.    
  • In "raw" numbers not adjusted for seasonal variance, the unemployment rate reached a peak of 10.6% in January 2010 with 16,147,000 (out of a labor force of 152,957,000) reporting themselves as unemployed and actively looking for work.  Only 136,809,000 were working (in "raw" unadjusted numbers) in January 2010.


The Unemployment Rate Now:
  • Now, in August 2011, the "official" unemployment rate in seasonally adjusted numbers is 9.1% with 13,967,000 (out of a labor force of 153,594,000) unemployed and actively looking for work.  139,627,000 people are working now. 
  • In unadjusted "raw" numbers the unemployment rate is now 9.1%, a decline of .2% (two-tenths of a percent) since July.  In "raw" real numbers, 14,008,000 (out of a labor force of 154,344,000) are unemployed and actively looking for work.  140,335,000 are working now in "raw" numbers unadjusted for seasonal variation.

To Summarize the Unemployment Rate Now Compared to When Obama Took Office:
  • Using seasonally adjusted numbers, the unemployment rate was 7.7% (and rising quickly) when Obama took office, and it is 9.1% today.   11,919,000 were officially unemployed back then, and 13,967,000 are unemployed today.  
  • Using nonseasonally adjusted numbers, the unemployment rate was already 8.5% when Obama took office, and it is 9.1% today.   13,009,000 were officially unemployed back then, and 14,008,000 are officially unemployed now. 
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