National Unemployment Rate Has Topped 8% For Three Straight Years

According to the Director of the CBO (Congressional Budget Office), the United States is currently experiencing its longest stretch of “high” unemployment since the "Great Depression".

In February of 2009, the national unemployment rate rose from 7.6% (January of 2009) to 8.1%. The national unemployment rate hasn’t been under 8% since that date.

Let's look at the national unemployment rate from February of 2009 until present day:

February 2009 - 8.1%
March 2009 - 8.5%
April 2009 - 8.9%
May 2009 - 9.4%
June 2009 - 9.5%
July 2009 - 9.4%
August 2009 - 9.7%
September 2009 - 9.8%
October 2009 - 10.2%
November 2009 - 10%
December 2009 - 10%

January 2010 - 9.7%
February 2010 - 9.7%
March 2010 - 9.7%
April 2010 - 9.9%
May 2010 - 9.7%
June 2010 - 9.5%
July 2010 - 9.5%
August 2010 - 9.6%
September 2010 - 9.6%
October 2010 - 9.6%
November 2010 - 9.8%
December 2010 - 9.4%

January 2011 - 9%
February 2011 - 8.9%
March 2011 - 8.8%
April 2011 - 9%
May 2011 - 9.1%
June 2011 - 9.2%
July 2011 - 9.1%
August 2011 - 9.1%
September 2011 - 9.1%
October 2011 - 9%
November 2011 - 8.6%
December 2011 - 8.5%

January 2012 - 8.3%

The national unemployment rate has been dropping steadily over the past few months, which has translated into strength for President Obama's re-election campaign.

The problem? This drop isn't expected to continue - the CBO estimates that the national unemployment rate will remain above 8% "until 2014".

Source: CBO.gov - The United States is Experiencing the Longest Stretch of High Unemployment Since the Great Depression

Filed under: General Knowledge