Unemployment Breaks 10 %

Up 0.4% to 10.2%. Yeah, bailing out the banks worked so well.

BTW, U6, the most expansive measure of unemployment, hit 17.5%.

Note, however, that U6 is still more restrictive than the metric used in the Great Depression, which, for example counted WPA workers as unemployed.

It means that we are much closer to the 25% peak in the 1930's than we would like to think.

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Full disclosure, I am among that 10.2%