A similar unemployment rate of 5.9% was recorded on the eve of the financial crisis in 2008
Data provided last week by the Central Bureau of Statistics, based on monthly trend data calculations from the Labor Force Survey, show that the unemployment rate for May 2011reached 5.7% of the total civilian labor force - a total of 183,000 unemployed people, despite the rise in the number of workers joining the labor market.
A similar unemployment rate of 5.9% was recorded on the eve of the financial crisis in 2008. The figures clearly show that the unemployment rate has been steadily falling since the beginning of 2011, from 6.1% in January to 5.7% in May.
Percentage of unemployed persons, out of the total civilian labor force – monthly trend data
|
2011 |
2010 |
2009 |
2008 |
Month |
|
6.1 |
7.1 |
7.0 |
6.4 |
January |
|
6.0 |
6.9 |
7.3 |
6.3 |
February |
|
5.9 |
6.8 |
7.5 |
6.2 |
March |
|
5.8 |
6.6 |
7.7 |
6.0 |
April |
|
5.7 |
6.5 |
7.7 |
6.0 |
May |
|
|
6.5 |
7.7 |
5.9 |
June |
|
|
6.5 |
7.7 |
5.9 |
July |
|
|
6.5 |
7.6 |
5.9 |
August |
|
|
6.5 |
7.5 |
6.0 |
September |
|
|
6.5 |
7.5 |
6.2 |
October |
|
|
6.4 |
7.4 |
6.4 |
November |
|
|
6.3 |
7.2 |
6.7 |
December |
