TEENAGE UNEMPLOYMENT at a record high. “According to today’s job report, the overall unemployment rate (the percentage of people in the labor force not working but looking for work) in August rose to 9.7 percent, its highest level in 26 years. The teenage unemployment rate, however, is at 25.5 percent, its highest level since the Bureau of Labor Statistics began keeping track of such data in 1948.”

UPDATE: Rand Simberg writes: “I’m sure it’s just coincidence that this happened right after Congress jacked up the minimum wage in the middle of a deep recession. This was the kind of thing that FDR did that made the Great Depression great.”