Today the Labor Department reported that the national unemployment rate increased to 10.2%. This marks the highest unemployment rate since 1983 - a 26-year high.
This chart from chartoftheday.com illustrates the unemployment rate and recessions since 1948 to put the present day's economic situation in historical perspective. We can see an unfortunate trend in recent recessions with the unemployment rate peaking several months after the recession officially ends. This news does not bode well for the state of unemployment over the next 6-12 months.