True or False?

10Feb09

Is Obama telling the truth or is it just scare tactics?

OBAMA: “We also inherited the most profound economic emergency since the Great Depression.”
THE FACTS: This could turn out to be the case. But as bad as the economic numbers are, the unemployment figures have not reached the levels of the early 1980s, let alone the 1930s — yet. A total of 598,000 payroll jobs vanished in January — the most in nearly 35 years — and the unemployment rate jumped to 7.6 from 7.2 percent the month before. The most recent high was 7.8 percent in June 1992.
And the jobless rate was 10.8 percent in November and December 1982. Unemployment in the Great Depression ranged for several years from 25 percent to close to 30 percent.

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