Tuesday, July 13, 2010

Stocks rally as unemployment rate still crappy

The title you should be reading on financial sites if they allowed themselves to utilize the word 'crap'...

New York Times blogger notifies us that the situation in the US is still worse than many other developed world countries.

The Unemployment Rate Race
Among developed countries, the United States still has an above-average unemployment rate, according to data released today by the Organization for Economic Cooperation and Development.

The chart above shows the standardized unemployment rate across organization countries for May, though for a few countries (including the United States) more recent data are available.

In May, the average unemployment rate among industrialized countries was about 8.6 percent; it was lowest in South Korea, at 3.2 percent, and highest in Spain, at 19.9 percent.

In the United States, the rate was 9.7 percent in May, and fell to 9.5 percent in June.
Hopefully, some day - in the not so distant future - things will improve. Just hopes - not an outlook.

Cheers!

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