UT, you stand to be corrected again. Do some basic research before you post.
US unemployment still hovering around 9.6% and was around 10% earlier in the year was caused by the subprime bubble that started bursting more than 2.5 years ago.
The subprime bubble started blowing up in late 2007 and early 2008. Unemployment in the US even when Lehman Brothers collpased in October 2008 was 6.5%.
In September 2007, when Subprime Bubble and the term Housing Crash) started to become a husehold name, US unemployment rate was an astonishingly LOW 4.7% !!!
Now, go work out which is the horse and which is the cart.
