With the loss of another 651,000 jobs, the national unemployment rate rose to from 7.6% in January to 8.1% in February, according to data released today. The number is the highest in more than 25 years, with around 12.5 million Americans out of work. 1.99 million of those jobs were lost in the last three months alone ? an indication that the recession is far from over. 3 million Americans have actually been out of work for at least 6 months. Although the Obama administration has managed to pass a huge stimulus plan meant to curb the layoffs, effects of that spending may not be seen for some time.
See "U.S. Unemployment Rate Jumps to 8.1 Percent", Debbi Wilgoren, The Washington Post, March 5, 2009