Friday, July 08, 2011

Just Plain Frightening

There are not enough expletives to describe the jobs number today . . .

Plus 18,000 when it takes 250,000 a month just to take care of new entries into the workforce.

Not surprising that the jobless rate ticked to 9.2% -- which in plain English terms means about 17% if only because the unemployed don't just disappear after their benefits run out as assumed by the federal government -- or 25% if you count all the people are unemployed or employed part-time only because they are looking for a full-time job.

Fact: Fewer people are employed in the U.S. now than at anytime during the recession, which is supposedly over.

What is worse is a big picture look at the situation compared to other recessions vis a vis number of jobs lost and how quickly they were recovered.

Take a look here -- one of the most frightening charts you'll ever see:

Not sure a comment is necessary here. Look at the chart and fill in the blank.




Post a Comment

<< Home