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Michael Croune

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Collections Specialist at Law Offices
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New Economy or Bad?
Is it a bad economy or just new?
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over 9 years ago
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10y
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Olivia Grandon

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I'm not sure I know what you mean, Michael.
10y
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This is the new normal. Unemployment rate as reported by the BLS is 9.7% that is the U6 number (which counts all individuals who are not eligible to collect unemployment because they exhausted their benefits, those that gave up, those that want a job but can't find one) The common number that you see reported is slightly above 5% that is the U3 number from the BLS...but that number only counts those individuals who are unemployed and eligible and are collecting benefits.
If your applying to a JOB then be aware that the employer or hiring agency most likely got on average 400-600 resumes for that position. Odds are tight...this is an employers market not a employees market.
It also depends on where you live, here in my state in some cities the unemployment rate is as high as 18% in some cities...on average across my state unemployment is around 10% and that figure was given to me by my Unemployment Agency