Friday, June 05, 2009

Not just here…

…but there, and, it seems, everywhere...
With companies in no mood to hire, the unemployment rate jumped to 9.4 percent in May, the highest in more than 25 years.
...and yes, it's worse than it looks...
If laid-off workers who have given up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been 16.4 percent in May, the highest on records dating to 1994.
Last time around we invented the "jobless recovery," while the speculators got fat on the (non-)workers misery. This time we've got to demand a "jobs first" recovery, or understand that there's no recovery at all.

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Blogger Chris Wysocki said...

So much for that "max 8%" unemployment number Barry swore would be the worst case scenario even if the Congress didn't saddle our children with his useless Porkulus debt package.

When he succeeds in having the Yuan replace the US dollar as the world's reserve currency, will we all have to learn Chinese just get by/

8:39 AM  

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