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CBO: Longest Period of High Unemployment Since Great Depression
CBO: U.S. enduring the longest period of high unemployment since the Great Depression
By ALEX M. PARKER
February 16, 2012
After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today.
And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven’t sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent.
