US Unemployment Levels and Rate: 1998 - 2008

The US unemployment rate among those 16 and older rose in August 2008 to 9.376 million unemployed, a nearly 30% year-over-year increase and the highest number in over 10 years.

US Unemployment Level: 1998 - August 2008 (Millions)

Source: Bureau of Labor Statistics

In August 2008 the US unemployment rate stood at 6.1%, only .2% short of the level reached during the 1991 recession.

US Unemployment Rate: 1998 - August 2008

Source: Bureau of Labor Statistics

A Brief History of the Minimum Wage

The best time to have been on the minimum wage was the mid-'60s, when the minimum wage had the greatest buying power - $10.11 in 2008 inflation adjusted dollars. Since the mid-60s, the inflation adjusted value of the minimum wage has been dropping steadily, with an uptick in 2008 from its adjusted increase to $6.55. Another increase to $7.25 is scheduled for 2009, but that still keeps its buying power far below historical amounts. Minimum Wage
1938	$0.25
2008	$6.55
2009	$7.25
Highest value of the minimum wage in 2008 inflation adjusted dollars was in 1968	$10.11
Number of US workers paid hourly	75.9 million
Percentage of workforce paid hourly	58.50%
Percent making minimum wage	2.30%
Number of workers making minimum wage	1,748,000

Minimum Wage Adjusted for Inflation 1938 - 2008

Unemployment rates, 2000-2008

Unemployment rates from January 2000 - July 2008, including those who have given up looking and those who are employed part-time but seeking full-time employment:

Source: Wall Street Journal

Unemployment rates in July 2008 are now almost equal to those of the recession of 2001.

Number of US Home-Based Workers Forecast to Reach 100 Million by 2010

In 2008 the number of US home-based workers stood at about 17 million. This is full-time and part-time home-based business owners and contractors, according to Ray Boggs at IDC, not including full-time employees of corporations who work from home:

Source: Wall Street Journal

The International Telework Association and Council estimates that there were a total of 26 million employed working from home in the US in 2007 and forecasts that number to grow to 100 million by 2010, making working from home the norm in the second decade of the 21st Century.