Unemployment Rates At A Glance

The U.S. unemployment rate since 2000 has been on a nice ride. 

Between 2000-2008 it basically stayed in the 5% range peaking through 6% for a short period in 2003. The rate shot up to past 10% around 2009 and there it stayed until recently and has been gradually descending with the latest data revealing the rate at 7.4% - which incidentally is roughly Canada's "perpetual" rate of unemployment.

G8 countries:

Canada: 7.2
UK: 7.2
Germany: 5.2
France: 10.8
Italy: 12.1
Japan: 3.9
Russia: 5.3

Other countries:

Spain: 26.26
Greece: 27.6
Australia: 5.7
South Korea: 3.2
Netherlands: 8.7
Sweden: 9.1
China: 4.1
Switzerland: 3
Norway: 3.4
Denmark: 4.3
Mexico: 5
Israel: 6.9
India: 3.8
Hong Kong 3.3
Singapore: 3.1

Of course, some of these must be taken with a grain of salt. For example, Cuba has a low unemployment rate but it hardly translates into any real wealth.

Another chart from the Department of Labour. The Bush presidency, since people keep harping on it, actually maintained lower rates of unemployment than President Obama. Predictably, people and pundits alike will offer their perspectives and rationalizations why this is so.