Unemployment: 7.2%
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Friday, January 9, 2009
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The unemployment rate rose from 6.8% to 7.2% while the nonfarm payroll employment declined by 524,000. The following graphs give some idea of the gravity of the situation,
This article has some additional grim news,
“There is no end in sight in terms of layoffs,” said economist Ken Mayland, president of ClearView Economics. “January could be worse because some companies put layoffs on hold because of holiday sensitivities.”
Not only are employers slashing jobs; they also are cutting workers’ hours and forcing some into part-time work. The average work week in December fell to 33.3 hours, the lowest level on records dating to 1964 — and a sign of more job reductions in the months ahead, economists said.
About Steve Verdon
The GOP had the white house and congress for 6 consecutive years only twice in the last century. Once was right before this economic calamity. Guess when the other time was.
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If you want to play the game that way, steve s, then the Democats have been in charge of Congress the last two years…Congress sets the tax, spending and regulatory environment…..and the shixt hit the fan. Their fault.
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There’s plenty of blame to go around. How about solutions?
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only 2 times. 2000-2006 and_________?
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1929.
steve s, have you stopped beating your wife?
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