I think unemployment is hurting the economy. The last unemployment rate was 9.6% in september 2010. From the year 1948 until now the unemployment rate averaged around 5.7%, reaching a high of 10.8% in 1982 and a alltime low of 2.5% in 1953. Here are the unemployment rates from June 2010 to October 2010:
U.S. employment fell for the third straight month in August. The decline was less unexpected because of a growth in private payrolls. Non farm payrolls fell 54,000, Private employment considered a better gauge of labor market healthin creased 67,000. The Unemployment rate edged up to 9.6% in line with some market expectations. Job Scarcity is hurting consumer spending, which accounts for more two-thirds of United States economic activity. The labour force is defined as the number of people employed plus the number unemployed seeking work. The participation work is the number of people in the labour force divide by the size of the adult civilian noninstitutional population. Non-labour force includes those whom aren't loooking for work. The unemployment level is defined by the level of unemployment divided by the labour force. Employment rate is defined by the currently employed divided by the adult population.http://www.tradingeconomics.com/Economics/Unemployment-Rate.aspx?Symbol=USD
