Friday, March 6, 2009

Unemployment: Is that all?

The unemployment rate reached 8.1 percent in February according to new data out today from the Bureau of Labor Statistics. The administration's budget projected an annual unemployment rate for the year of 8.1 percent for 2009 followed by 7.9 percent in 2010.

The administrations predictions had already been called rosey; they are beginning to look illusory. If unemployment continues to rise it will likely have to drop below the predicted 7.9 percent in 2009 just to hit the 81. percent yearly figure.

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