Hammered

More of the same . . .

By Jeff Thredgold, CSP
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Table of Contents

Jobless Jump

As noted, the nation’s unemployment rate jumped to 7.2% in December, up sharply from November’s 6.8% rate. The rate could approach 8.5% or 9% by the end of the year. More pessimistic forecasters suggest that a double-digit unemployment rate is possible early next year.

More than 11.1 million American workers were considered unemployed in December—the highest total in 25 years—and a rise of 3.6 million from December 2007, the official date at which the current recession began. The number is headed higher.

Figure 2. U.S. Unemployment Rate

US Unemployment Rate
 


Tea Leaf, your guide to understanding today's economy
Hammered continues...
Introduction 
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The "Underemployed" 

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