Wednesday, September 8, 2010

Unemployment Above 9%


The early 1980s offer a reminder. Unemployment climbed above 9% in March 1982—peaking at 10.8% in late 1982—and stayed there for 19 months. Today's rate has hovered above 9% for only 16 months and peaked at 10.1% in October 2009. Even worse, while unemployment fell below 9% in October 1983, its stretch above 7% lasted from May 1980 until January 1986.

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