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December 7, 2009

Official Jobless Rate Drops to 10%
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The nation’s official unemployment rate has fallen to ten percent, down
from 10.2 percent in October. Speaking at the White House Friday,
President Obama said the change signifies an improving economy.

President Obama: “There are going to be some months where the reports
are a little better, some months where the reports are worse, but the
trend line right now is good. The direction is clear. When you think
about how this year began, even before I was sworn in, and we were
losing 700,000 jobs a month—a month—today’s report is a welcome sign
that there are better days ahead.”

Despite the drop, labor economists have put the real unemployment rate
at around 17 percent when factoring in the underemployed and those who
have stopped trying to find work.



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