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[[Image:Unemployment office.jpg|right|thumb]]

[[Image:Unemployment office.jpg|right|thumb]]

'''Unemployment''' is when people are unable to find jobs at the prevailing wages for their skills and experience.  Economists refer to this as "involuntary unemployment."

'''Unemployment''' is when people are unable to find jobs at the prevailing wages for their skills and experience.  Economists refer to this as "involuntary unemployment." Voluntary unemployment is a normal process when people join the labor force (after leaving school, for example) or move to a new area.

[[Image:Unemployment.jpg|thumb|275px|left]]

[[Image:Unemployment.jpg|thumb|275px|left]]

After reaching a low of 4.1% in October, 2006, the U.S. unemployment rate has been trending upward, reaching 9.5% in June 2009. It will continue rising for several more months. Unemployment normally peaks a few months ''after'' the economy reached bottom and starts going up again.

After reaching a low of 4.1% in October, 2006, the U.S. unemployment rate has been trending upward, reaching 9.5% in June 2009 and dropping to 9.4% for July. Unemployment normally peaks a few months ''after'' the economy reached bottom and starts going up again.

Weekly estimates of unemployment use the number of persons filing new claims for unemployment insurance (UI) benefits.  Much more accurate data is based on large scale interview surveys, and is reported on the first Friday of the following month.  Since 1940 the monthly Current Population Survey (CPS) has been used. <ref>See [http://www.bls.gov/cps/cps_htgm.htm Bureau of Labor Statistics]</ref>

Weekly estimates of unemployment use the number of persons filing new claims for unemployment insurance (UI) benefits.  Much more accurate data is based on large scale interview surveys, and is reported on the first Friday of the following month.  Since 1940 the monthly Current Population Survey (CPS) has been used. <ref>See [http://www.bls.gov/cps/cps_htgm.htm Bureau of Labor Statistics]</ref>