On Friday, the unemployment figure creeped up to 9.8%, which caused economists to wring their hands and begin to assess the "recovery" in terms of history. When they compared the previous recoveries from all 10 American recessions since 1948, this year's figures were bleak as only the 2001 recovery took longer to raise unemployment figures back to pre-recession numbers.
This is the worst recession on record, but when will the 15.1 million unemployed Americans get back to work? The jobless rate has remained above 9% for 19 straight months, the longest stretch on record since 1949, and it's affecting everyone.
Not surprisingly, high school dropouts have the highest rate of unemployment at 15.7%, but, right behind them are college graduates at 5.1%. In fact, those at the beginning of their life cycle are suffering at a much greater rate:
Age 16 to 19......21.5 %
Age 20 to 24......9.3 %
Age 45 to 54......8.1 %
Age 55 and up....7.3 %
All those college kids and hipsters that got out the vote for Obama must be cursing him now.
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