Oct 03 2009
Unemployment Near Ten Percent
September saw a net loss of 263,000 jobs to push the unemployment rate to 9.8 percent. After July and August revisions lowered the previously announced rate to 9.7 percent, the rate is realistically where it sat the past month.
Statistically, the unemployment rate is the highest in the U.S. since 1983. Additionally, the Eurozone announced this week an unemployment rate of 9.6 percent.
The average American workweek declined to 33 hours. The Labor Department estimates that 9.2 million part-time workers want to be employed full-time. Another 15.1 million people are officially unemployed.
Combined with the discouraged people who aren’t seeking jobs, the under/unemployed rate is estimated to be 17 percent. There have been net job losses every month since the recession began last year.
Some pundits fear the worst is not yet over. Some worry about a so-called “W” recession with an upcoming second drop. Others fret about a “jobless” recovery where people with work will be required to be more productive, rather than add more employees.
How does that “save or create” thing work again?
I heard there was going to be a second round of the recession. More layoffs, more depression. I don’t know how things are going to get better, but I hope they get better soon!
As long as Americans really soley on Employeers for their only source of income, instead of going out in the free market and staking thier own claim, than unemployment and economic dissidence will only continue. Americans need help from the government to create wealth for themselves by creating thier own businesses and creating thier own livelihoods. This get a job, get a job, where are the jobs, the jobs, the jobs, I need a job bullshit is nothing but revamped slavery and makes me want to fucking puke….