Unemployment: The 2010 Time Bomb
source: http://www.alternet.org/story/145048/unemployment%3A_the_2010_time_bomb
American employers eliminated 4.2 million jobs in 2009 and sent unemployment soaring into double digits for the first time in more than a quarter century.
Since the fall of last year, the official jobless rate has been over ten percent, while the unofficial rate (taking in the severely underemployed and those who have given up looking) has been over 17 percent.
And, despite the ridiculous "green-shoots" speculation of the Obama administration and overblown "recovery" fantasies of the financial media that has blown every major economic story of recent years, the situation is getting worse.
Since the fall of last year, the official jobless rate has been over ten percent, while the unofficial rate (taking in the severely underemployed and those who have given up looking) has been over 17 percent.
And, despite the ridiculous "green-shoots" speculation of the Obama administration and overblown "recovery" fantasies of the financial media that has blown every major economic story of recent years, the situation is getting worse.
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- tags:
- Obama, Media, Financial, Unemployment, 14 more
