WASHINGTON (AP) - The government said Friday that the nation's unemployment rate jumped to 5.5% in May - the biggest monthly rise since 1986 - as nervous employers cut 49,000 jobs.
Looks like more and more data is coming in showing a slow down in the US economy thus a recession is at hand.
US Unemployment Worse
WASHINGTON (AP) - The government says the nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs.
The Economy is snow balling. I hope that people have at least 3 months of food and perhaps some weapons.
Unemployment will continue to go up in my opinion.
Edited: Quasar on 5th Sep, 2008 - 6:31pm
U.S. Companies Cut 240,000 Jobs in October; Unemployment Spikes to 6.5 Percent, Highest Since March 1994 [8:36 a.m.]
Ref. ABC News
With winter and christmas coming now the unemployed are going to have a fun time as they try to keep their homes and stay warm. I have a feeling that it is going to get interesting in the next few months as the unemployment rate climbs more as more people are laid off. I think Ford announced they are laying off 10% this month.
I have noticed myself leaning towards taking some jobs I don't want. 2 years ago I would have laughed at some of the stuff I am taking now. Work just isn't as abundant as it used to be. I can still double my work if I want. Even in a new place, but changing peoples' toilets out is not what I usually do. I am skilled labor I can build a house from the ground up and do most of the finish work. I am an excellent carpenter but now I am changing toilets and snaking out pipe lines because people just want to keep things going now. Repairs and patches are up by about 30% from the norm I would guess. We have been spoiled for a long time.
Hopefully it won't get to me working the street corners again. I am glad I didn't throw away that red dress.
Edited: Quasar on 8th Nov, 2008 - 3:16am