Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2009	6.60	8.20	8.90	9.10	8.70	8.10	8.00	7.70	7.20	7.60	8.00	8.20
2008	1.00	1.00	1.00	1.00	1.00	1.10	1.10	1.20	1.30	1.90	3.30	4.80
2007	1.30	1.30	1.30	1.10	1.10	1.00	0.90	0.90	0.80	0.80	0.80	0.80
2006	1.60	1.60	1.50	1.30	1.30	1.30	1.40	1.20	1.00	1.00	1.10	1.20

Global Economics

Debt Crisis May Endanger Europe's Economic Recovery
Published: 2/6/2010 12:24:28 PM By: Anna Fedec, contact@tradingeconomics.com

In the third quarter of 2009, the Euro Area economy emerged from the worst recession since World War II. Yet, during the last few weeks, the single currency union has been facing the biggest challenge since its establishments as lower tax revenues started bringing fiscal deficit in some member countries to unsustainable levels.

Canada Gained Jobs in January
Published: 2/5/2010 8:49:14 AM By: TradingEconomics.com, Bloomberg

Canada gained more jobs than expected in January, led by part-time positions for youth, pushing the unemployment rate down. Employment rose by 43,000 last month, and the unemployment rate fell to 8.3 percent.

US Payrolls Fall in January, Unemployment at 9.7%
Published: 2/5/2010 8:38:28 AM By: TradingEconomics.com, Reuters

Employers unexpectedly cut 20,000 in January, but the unemployment rate surprisingly fell to a five-month low of 9.7 percent, according to a government report on Friday that hinted at some labor market improvement starting to take root.

Australia's Monetary Policy Has Been Driven By China’s Growth
Published: 2/4/2010 3:59:34 PM By: Anna Fedec, contact@tradingeconomics.com

In February, the Reserve Bank of Australia left interest rates unchanged despite of an influx of indicators pointing to growth acceleration and price pressures. Yet, after an explanation given by governor Stevens, it became clear that this unexpected decision was mainly prompted by recent Chinese easing of economic stimulus measures.

Bank of England Halts Bond Purchase Program
Published: 2/4/2010 10:30:30 AM By: TradingEconomics.com, Bank of England

The Bank of England paused its 200 billion-pound ($317 billion) bond-purchase plan and left open the option to buy more as officials gauge the health of the U.K.’s recovery.

ECB Holds Rates, Sees Moderate, Uneven Recovery
Published: 2/4/2010 10:25:48 AM By: TradingEconomics.com, Reuters

The European Central Bank kept interest rates at a record low of 1.0 percent on Thursday and reaffirmed its view that the euro zone's economic recovery would be modest and uneven this year.

New Zealand Jobless Rate Rises to 7.3%
Published: 2/3/2010 5:18:24 PM By: TradingEconomics.com, Bloomberg

New Zealand’s unemployment rate soared to the highest level in more than 10 years in the fourth quarter as a slow recovery from recession made companies reluctant to hire extra workers.

ADP Says U.S. Companies Cut Estimated 22,000 Jobs
Published: 2/3/2010 9:32:30 AM By: TradingEconomics.com, Bloomberg

Companies in the U.S. cut an estimated 22,000 jobs in January, in line with forecasts, according to data from a private report based on payrolls.

Australian Trade Deficit Widens
Published: 2/2/2010 10:52:30 PM By: TradingEconomics.com, Bloomberg

Australia’s trade deficit widened in December as imports of goods including gasoline surged the most in almost two years, adding to evidence of an economic rebound.

Despite Recent Growth, US Recovery is Still Weak
Published: 2/2/2010 12:59:10 PM By: Anna Fedec, contact@tradingeconomics.com

In the fourth quarter of 2009, the United States economy expanded at an annualized rate of 5.7% giving the impression that the recovery in world’s largest economy has been stronger than expected. Yet, growth was mainly due to inventory rebuilding and the recent economic expansion maybe short lived.

Unemployment Rate Definition

The labour force is defined as the number of people employed plus the number unemployed but seeking work. The participation rate is the number of people in the labour force divided by the size of the adult civilian noninstitutional population (or by the population of working age that is not institutionalised). The nonlabour force includes those who are not looking for work, those who are institutionalised such as in prisons or psychiatric wards, stay-at home spouses, kids, and those serving in the military. The unemployment level is defined as the labour force minus the number of people currently employed. The unemployment rate is defined as the level of unemployment divided by the labour force. The employment rate is defined as the number of people currently employed divided by the adult population (or by the population of working age). In these statistics, self-employed people are counted as employed.

Variables like employment level, unemployment level, labour force, and unfilled vacancies are called stock variables because they measure a quantity at a point in time. They can be contrasted with flow variables which measure a quantity over a duration of time. Changes in the labour force are due to flow variables such as natural population growth, net immigration, new entrants, and retirements from the labour force. Changes in unemployment depend on: inflows made up of non-employed people starting to look for jobs and of employed people who lose their jobs and look for new ones; and outflows of people who find new employment and of people who stop looking for employment.

When looking at the overall macroeconomy, several types of unemployment have been identified, including:
Frictional unemployment — This reflects the fact that it takes time for people to find and settle into new jobs. If 12 individuals each take one month before they start a new job, the aggregate unemployment statistics will record this as a single unemployed worker. Technological change often reduces frictional unemployment, for example: the internet made job searches cheaper and more comprehensive.
Structural unemployment — This reflects a mismatch between the skills and other attributes of the labour force and those demanded by employers. If 4 workers each take six months off to re-train before they start a new job, the aggregate unemployment statistics will record this as two unemployed workers. Technological change often increases structural unemployment, for example: technological change might require workers to re-train.
Natural rate of unemployment — This is the summation of frictional and structural unemployment. It is the lowest rate of unemployment that a stable economy can expect to achieve, seeing as some frictional and structural unemployment is inevitable. Economists do not agree on the natural rate, with estimates ranging from 1% to 5%, or on its meaning — some associate it with "non-accelerating inflation". The estimated rate varies from country to country and from time to time.
Demand deficient unemployment — In Keynesian economics, any level of unemployment beyond the natural rate is most likely due to insufficient demand in the overall economy. During a recession, aggregate expenditure is deficient causing the underutilization of inputs (including labour). Aggregate expenditure (AE) can be increased, according to Keynes, by increasing consumption spending (C), increasing investment spending (I), increasing government spending (G), or increasing the net of exports minus imports (X?M). {AE = C + I + G + (X?M)} (source: wikipedia)