US unemployed since 1948 – trend is our friend?

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This is a chart of unemployed persons in the US since 1948 published by the St Louis Federal Reserve. The shaded sections denote recessions. Interesting to note that the we are skirting the red line at present, one that has seldom been breached in 70 years. Will history be bunk or will the trend confirm economic slowdown? An eerie looking chart.

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