10.2% National Unemployment Rate - What Does it Mean?

If you have a job right now the 10.2% national unemployment rate doesn't mean much.

But if you're out of work and have been looking for a job for more than six months it's demoralizing; with the unemployment rate at the highest point since 1983. This was much worse than the U.S. Labor Department economists predicted.

It also does not include the underemployed and people who have given up looking for a job after a fruitless job search.

Also, contrary to popular belief someone who is collecting unemployment compensation is not counted in the unemployment rate if they are no longer actively seeking employment!!

Perhaps the real unemployment rate is closer to 20%.

For more details about this issue click here.

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Jobs won't recover until 2012 - three more years to go!! For more details click here.