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Friday, February 5, 2010

U.S. Unemployment Rate Falls to 9.7%; "Real Unemployment" Now at 16.5% - Video 2/5/2010

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Here is video of Ben Stein on MSNBC talking to David Shuster about the U.S. Economy in light of the latest Unemployment numbers out today. The Unemployment Rate fell to 9.7%, but the Real Unemployment Rate (including people who have stopped looking for work) stands at 16.5%.

Stein said he believes there is a recovery taking place, but it is a recovery of "profits" and not "jobs." Stein said if you are unemployed, "these are grim times" indeed. He said it now takes an average of 8 months for an unemployed person to find work.


Chicago liposuction February 6, 2010 at 12:29 AM  

Very confusing, the economy shed 20,000 jobs but the labor force grew by 111,000. The U-3 and U-6 unemployment fell more than expected and job losses are higher than expected. I think the real unemployment rate falling from 17.3% to 16.5% is the only good news here.

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