The unemployment rate in the United States jumped to 8.9%. That's the highest it's been since September of 1983. It is also somehow a sign that the economy is stabilizing, since forecasts expected it to be higher. Everyone was wrong, and now everything's okay! I know I feel better.
don't forget about the u-5 -- "total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers" -- which just vaulted over the 10% mark (10.1)!
Good to know the trillion dollar American economy functions on basically the same logic as me setting my alarm clock ahead 10 minutes.
Fun fact: 1983 was the year that the all-time largest group of college graduates entered the workforce.
At least, I assume that's true. I deduced this from the fact that, in 1961, more babies were born in the U.S. than any other year. And most of those kids who went on to college would have graduated in 1983.
So that may help explain 1983's 9% unemployment rate.
What's YOUR excuse, 2009?
well, Putin could shoot down a Korean Airlines passenger jet to take our minds off this number (which I believe happened in Sept. 83.)