[ClearCase_guy]

Last month, the bad news was worse than expected.
Over the summer, the news was bad, and it turns out worse than reported.
Over the past twelve months, the news was bad, and it turns out worse than reported.

And yet we're holding steady at a 9.6% rate.

Does anyone believe this crap? How about the media? News divisions are shrinking, newspapers are going out of business, Newsweek sold for $1 -- but they want to report that the economy is holding steady??

[Obadiah]

Yeah, the economy is collapsing all around and magically we’re holding steady at a 9.6% unemployment rate.

[cynwoody]

And yet we're holding steady at a 9.6% rate.

The 9.6% number is the percent in the labor force who don't have a job. It doesn't count the folks who have stopped looking for work and are therefore not in the labor force.

If the economy started to pick up, you could see the number actually spike up, as the ones who had given up hope start looking faster than the now growing economy can employ them.

The real question is just how big is the proportion who have stopped looking. And the number who have part-time or crap jobs below their qualifications.