Look at how (relatively) low it was in September 2007. One can assume in February it was even lower - and February is when Greenspan said a recession was obviou

Look at how (relatively) low it was in September 2007. One can assume in February it was even lower - and February is when Greenspan said a recession was obviously coming. The subprime mortgage crisis started in April 2007. But the job market didn't really get fucked until 2008. There's a delay with these types of things - I personally predict that a year from now, a lot of companies (especially ones in the tech sector fueled by immense amounts of cheap debt and the assumption ad revenue always goes up) will collapse. That's when you see the spike in unemployment, not now.