Saturday, March 6, 2010
The Department of Labor released its February unemployment figures yesterday, and the rate remained unchanged from the previous month at 9.7%. There were still 36,000 job losses in February, but that was a big improvement from the previous year's 650,000 job losses and beat economists' projections. However, 40% of the unemployment have been that way for at least six months and the underemployment rate ticked up slight to 16.8%. More evidence that we may be slogging through the (hopefully) bottom and may start to see more improvement later in the year.