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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Video: Why you shouldn't be happy about the unchanged unemployment rate

This morning, the Bureau of Labor Statistics told us that the February unemployment rate remained unchanged, at 9.7 percent. That's nice for March, but it probably does not mark the beginning of a decline. High unemployment will stick with us for a long time. Watch the video below to find out why. Enjoy:

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By Frank Ahrens  |  March 5, 2010; 5:05 PM ET
Categories:  The Ticker , Unemployment  | Tags: Frank Ahrens, unemployment  
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Comments

IMHO, 5% official unemployment is a pipe dream, even by 2017. I am predicting a long period where 8% is the new norm for official unemployment and the new, acceptable target for the government. Once the mid period baby boomers finally start to retire (and my guess is they will hold off until their 70's), then we might get back to 6-7% but I doubt it. America just does not want to be globally competitive anymore. We have the vision to grow into a 21st century economy but we are stymied by myriad problems that are presently intractable.

Posted by: mraymond10 | March 5, 2010 6:26 PM | Report abuse

Should goverment Stop Taxing Unemployment Benefits?
So does it make any sense in 2010 to keep the tax man's hammer down on the unemployed? Did the government not give the banks a break who created this economic mess in the first place? Did the government's bail out money not provide profit, survival and fat bonuses for the Wall Street crews? Does the government not plan tax breaks for small business who reinvest in plant, equipment and rehires? Did the government not give big auto a Cash for Clunkers program to boost sales along with financial restructure for GM? Is there not a 8,000 dollar tax credit for first time home buyers who are fortunate to have jobs? So why is there no mention of 100% tax free unemployment compensation for the down trodden, displace and forgotten, we the unemployed.
Is it because we the unemployed have no voice? At the Unemployment Gone Mad community http://unemployment-gone-mad.com we are seeking to change this injustice with a new tax reform bill and one voice.
March 6, 2010 Open Letter to -New Mr Chairman, Sandy Levin Ways and Means Committee - STOP TAXING UNEMPLOYMENT BENEFITS! - Write a Legislative tax reform bill giving 100% of all unemployment benefits collected in 2009 tax free retroactive status like the one below. Let's not forget about those who have lost a job in 2009 and remember you, Now Chairman of the US Ways and Means committee can still help with a break through response for 2010 with this bill. Have you heard about the Jobless STUB Retro 2009 U/B Tax Free Act? STUB is like a paycheck stub we no longer have and stands for STOP TAXING UNEMPLOYMENT BENEFITS. The new legislative reform bill needs your attention and will make all unemployment collected in 2009 tax free not just the current law deduction of an insane $2400 exemption (about 6 checks). You should consider passing this bill before April 15 2010 because 5.8 million have most of their income from unemployment compensation and didn't withhold in order to survive. Making the long term unemployed have an IRS tax liability is unjust and unsound in this economy. Next the unemployed will face collection and having a credit rating disaster. This bill needs to be endorsed and launched by you and will be a financial life changer for millions who drew a lot of benefits and couldn't withhold. Remember a record 20 million collected some unemployment in 2009. Thanks from Executive Director Committee at Unemployment Gone Mad and all of the Gone Mad activist community.

Posted by: countrycarl | March 6, 2010 9:00 PM | Report abuse

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Posted by: titkonlyyou | March 8, 2010 8:58 PM | Report abuse

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