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.
Making your mark on the world is hard. If it were easy, everybody would do it. But it's not. It takes patience, it takes commitment, and it comes with plenty of failure along the way. The real test is not whether you avoid this failure, because you won't. It's whether you let it harden or shame you into inaction, or whether you learn from it; whether you choose to persevere." -- President Barack Obama
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
After a disappointing election you'll see a lot of that for months to come and it'll be blamed on the Bush administration.
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