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February 01, 2009


"None of us would be happy with 10 percent unemployment, . . ."

It's apples & oranges. LBJ changed the formula for deciding the unemployment rate in the 60s, narrowing the definition to decrease the number by ~1/2. From what I've read elsewhere, if unemployment rates were figured today like they were in 1937, the current rate would be about 13 - 16%. So 10% by those standards would be better than what we see today.

ever since, unemployment has always been a problem . It's the lowering the rate that's quite a challenge. Unemployment rate is quite getting higher, we'll just hope our new President Obama will find a new strategy on finding ways to make it lower.

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