|
The worst is yet to come: Unemployed Americans should hunker
down for more job losses
Nouriel Roubini
NY
Daily News
Monday, Nov 16th, 2009
Think the worst is over? Wrong. Conditions in
the U.S. labor markets are awful and worsening. While the official
unemployment rate is already 10.2% and another 200,000 jobs
were lost in October, when you include discouraged workers and
partially employed workers the figure is a whopping 17.5%.
While losing 200,000 jobs per month is better than the 700,000
jobs lost in January, current job losses still average more
than the per month rate of 150,000 during the last recession.
Also, remember: The last recession ended in November 2001,
but job losses continued for more than a year and half until
June of 2003; ditto for the 1990-91 recession.
So we can expect that job losses will continue until the end
of 2010 at the earliest. In other words, if you are unemployed
and looking for work and just waiting for the economy to turn
the corner, you had better hunker down. All the economic numbers
suggest this will take a while. The jobs just are not coming
back.
Full
article here
"When the people find they can vote themselves
money, that will herald the end of the republic."
- Fall Of The Republic - Buy
the DVD here
|
INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
|
|
