On September 26, 2009, new numbers for home sales and industrial business production were released by the federal government, and September’s demoralizing national unemployment figures revealed the jobless rate had risen to 9.8%, up from the previous month’s 9.7%. In Sarasota, Florida, the unemployment rate reached double digits during the same period.
As economists continued to assert a belief that the recession was over (or, that the nation had turned a corner and things were just not as bad in all the ways they had been before), employment was still lagging in September 2009 as an indicator of recovery.
Even with predictions that businesses would show actual signs of expansion sometime around Q2 of 2010, the public was well advised to hold off for a little while longer on popping that celebratory cork.
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