Monday, June 23, 2008

The U.S. Unemployment Rate

Today, the U.S. unemployment rate sits at 5.5 percent. That's not low nor is it high.

A page on the Misery Index Web site shows in bar graph format the U.S. monthly unemployment rates in the U.S. since World War II.

In the past 60 plus years, the rate has only been over 10 percent for ten months (9/1982 - 6/1983); interestingly during the Reagan years. However, when he left office just after December 1988, that rate had fallen to 5.3 percent.

Here are the presidents , their party affiliation, the unemployment rate when their term began, and the rate when they left office:

--Truman (D) - Jan. 1948: 3.4 percent; Truman - Dec. 1952: 2.7 percent
--Eisenhower (R) - Jan. 1953: 2.9 percent; Eisenhower - Dec. 1960: 6.6 percent
--Kennedy (D) - Jan. 1961: 6.6 percent; Kennedy - Oct. 1963: 5.5 percent
--Johnson (D) - Nov. 1963: 5.7 percent; Johnson - Dec. 1968: 3.4 percent
--Nixon (R) - Jan. 1969: 3.4 percent; Nixon - Jul. 1974: 5.5 percent
--Ford (R) - Aug. 1974: 5.5 percent; Ford - Dec. 1976: 7.8 percent
--Carter (D) - Jan. 1977: 7.5 percent; Carter - Dec. 1980: 7.2 percent
--Reagan (R) - Jan. 1981: 7.5 percent; Reagan - Dec. 1988: 5.3 percent
--GHW Bush (R) - Jan. 1989: 5.4 percent; GHW Bush - Dec. 1992: 7.4 percent
--Clinton (D) - Jan. 1993: 7.3 percent; Clinton - Dec. 2000: 3.9 percent
--GW Bush (R) - Jan. 2001: 4.2 percent; GW Bush - Jun. 2008 (current): 5.5 percent

As far as who was in charge of the nation at the time, the Republicans fare worse than the Democrats.

1 comment:

Richard Jennings said...

I see so many high paying jobs on employment sites I dont get the stats I keep reading:

http://www.realmatch.com
http://www.craigslist.com
http://www.simplyhired.com

I dont understand how the stats jive with that? It seems like demand for talent is still strong.