It has also come down but still way high compared to history:
The problem is that we are stuck in an environment of 2% growth which is just about normal economic inertia. Obama's policies have choked growth off which will result in it taking a long time for headline UE to get back to normal.
I had a meeting with an economist from IHS yesterday and their baseline forecast is for UE to get back to around 6% sometime in 2015-16.
...baseline forecast is for UE to get back to around 6% sometime in 2015-16
Did they factor in the impact of Obamacare on hiring? Just curious.