Back in December, after the State of the Town Meeting, I posted some information on the big picture related to unemployment and underemployment in Dennis. In January 2009 the Dennis unemployment rate had risen to 12.4%. Nationally it is now being reported that for about every three people unemployed there are two people underemployed. This would suggest that the underemployed rate would be 8.5%. Meaning that roughly 20.9% of the eligible workers in Dennis have been directly impacted by the recession. Turning these percentages into real numbers we find that there are about 1,628 people unemployed in Dennis and an additional 1,116 people underemployed in Dennis, for a total of 2,744 people impacted. As I noted in my earlier discussion, if these people are spread equally across the working households we could now be as high as 60% of the households in Dennis somehow impacted by the economic crisis. Behind the numbers, the largest sectors hit with unemployment are teens with 21.6% unemployed, minorities ((blacks (13.4 percent), and Hispanics (10.9 percent)) and adult men with 8.1% unemployed.
Obviously the Cape is a seasonal economy, so there are larger fluctuations in seasonal employment that on the national level, however, the January 2009 figures illustrate a jump of 4.7% in the unemployment rate when compared to January 2008 (which was very similar to the rates for January 2007 and 2006).