Unemployment is now 10.2%. That's still more than half a point better than the incredible 10.8% Reagan managed to reach by the end of the second year of his presidency, but it's a whole lot worse than we'd become accustomed to in the last couple decades.... and predictions are that it'll get still worse -- topping out around 10.5%. Will we wind up with the worst rates since the Great Depression?

The good news is that unemployment is typically considered a trailing indicator. With GDP recently growing again, we'd expect job creation to show up after a short delay.