Thursday, July 2, 2009

Unemployment Continues Its Ascent...


The Bureau of Labor Statistics has released data showing that the unemployment rate in the U.S. has risen to 9.5% for June, a 26 year high. The problem is worse than it appears. The percentage does not take into account those who have simply given up looking for work and those who are "underemployed". The more realistic figure is around 16.5% of the labor force. This level of un/underemployment compounds our already tenuous economic situation as people without work, and those that are scared they will lose their jobs, curtail discretionary spending...leading to more job losses. Companies tend to not hire until they feel the economy has sufficiently turned the corner.......

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