KnowYourPro

Unemployment rate Jumps to 10.2%. Have we seen the worst yet?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aM5vmVlHcV6A&pos=1

LOL, ask anyone on wall street and they'll be quick to tell you we are on our way out! I wish I could force myself to believe some of the BS they seem to believe, must be really good Kool-Aid!

Have we seen the worst yet?

Don't know how we could of when nothing has changed. With the Gov flooding the markets with stimulus this and stimulus that, of course there is going to be some minimal improvement when this trickles through the economy.

But since nothing is really happening that will lead towards long term recovery we still have a long climb ahead of us.

I would also encourage all of you to take a look at the official numbers as released by the Bureau of Labor Statistics, especially the U-6 measurement!

Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.. 17.5% ...GULP

Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past.
AKA - THEIR UNEMPLOYMENT BENIFITS RAN OUT

Thanks for the great link PC

I know a few people like that. Its scary to think about but 18% is insane. Dont count on any green jobs. Story out of Boston this week. Newer green company that produces solar pannels. Got a nice state grant and new location in a former army base converted to business center. They lost enough money that they shifted final assembly to ........china. wonderful.

Yay! I have great news everyone!!!

Oh don't even get me going!

What a cool site! Oak, I see you are a fellow NY'er. Hang in there, things will get better for the Empire State. They have to, right?