8.9%

by Ryan on March 4, 2011

in Economy

Today, the February U3 unemployment numbers came out a herculean 8.9% — the first time since April 2009 that we’ve seen unemployment dip below 9%.  Of course, in a few weeks there will be “revisions” or “seasonal adjustments” and the real number could easily be back in the 9 range, but for now this is welcome news.  Unfortunately, the number of unemployed who’ve simply stopped looking (the infamous “U6″ number) still drags at 15.9% of the workforce.  Still, it’s unfortunately a sign of the times that anyone might get excited over an 8.9% unemployment rate.  Also, that we’re still living through the worst era of unemployment since the 1930s doesn’t inspire much optimism.

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