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> The nationwide unemployment rate declined slightly last month from 5.1
> to 5.0 per cent. That's up from the 4.6-4.9% range during
> 2006-2007, but
> still well below the average for the 1990s, which I believe
> was close to
> 6%.
The unemployment rates are based on the number of people collecting UI
benefits. When people have exhausted their benefits, then they are no
longer counted, although they are still unemployed. If unemployment rates
are high enough that the federal government needs to extend UI benefits,
then there are a lot of people who are not being counted, so the
unemployment rates are not accurate. The numbers will likely go up as
people sign-up for extended benefits.
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