Friday, March 4, 2011
Unemployment Falls to 8.9%...Or Rises to 12%, Depending On Who Is Counted
8.9% is the lowest rate since April, 2009. That's the same month, coincidentally, that the "Great Recession" technically ended. However, Gluskin Sheff's David Rosenberg points out that 700,000 folks are no longer counted as unemployed b/c they've stopped looking for work. And if they were, the U-3 unemployment number would be 12%.
See giant version of chart.