Chart: Why unemployment rate is unlikely to drop anymore any time soon

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Andrew Sullivan points to a fascinating analysis of what has happened in this recession – essentially an unnecessarily steep rise in unemployment and then a matching steep decrease caused by all sorts of odd factors (mainly the huge rise in working hours by people in employment). But the bottom line is that it’s unlikely we’re going to get the rate that much lower any time soon: a drop of only 0.4 percent over the next two years looks likely.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.