08.27.2008 11:50 am
A 16-year high (at least) in unemployment
St. Louis Post-Dispatch
Yikes! The July unemployment rate for metro St. Louis is up to 7.2 percent. That’s the highest for any month since February 1992, and it’s higher than any July rate going back to at least 1990. It puts St. Louis well above the national unemployment rate, which was 6.0 percent in July.
Looks like the Labor Department’s household survey (used to calculate the unemployment rate) and its payroll survey are telling much different stories about St. Louis. The payroll numbers show a relatively modest drop in employment here.
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David Nicklaus has covered St. Louis business for more than 25 years. His column appears three days a week on the Post-Dispatch business page. 
Yet to hear the apparent republican presidential candidate tell it, the economy is in great shape. Of course, he admits he doesn’t know much about economics. He leaves that to his advisors who say those of us who disagree are whiners.