Hello everyone. I thought I'd give an update to what's been happening to the unemployment rate since my last post.
The unemployment rate for this month is 8%. That's pretty high but not completely ridiculous. The last time the unemployment rate was at 8% was January 2002. The highest unemployment rate on my graph is 8.2% during April 1999.
It's nice to know that the unemployment rate is not increasing anymore. If you look at the graph you can see how the rise in the unemployment rate is unprecedented over the last ten years or so.
It's a pity I don't have the unemployment rate graph going back longer than 1999. It would be nice to see how this latest recession compares historically to others.