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Unemployment Stabilizes at 9.7%

The February employment report shows there are 3.2 million fewer jobs than February of last year. This is bad, BUT it is better than July, when there were 6.8 million fewer jobs year-over-year. To see the trend, review my calculations on Jobs Google Spreadsheet.

The unemployment rate remained at 9.7%. This would have to continue for another eight months to be as bad as the 1982 recession, when unemployment was 10% or higher for 10 months. For a history of unemployment reports since March 2007, see Unemployment Statistics History.

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Unemployment Stabilizes at 9.7% originally appeared on About.com US Economy on Sunday, March 7th, 2010 at 18:20:04.

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