Unemployment Rate Highest Since ‘86
Written by Jay on June 7, 2008 – -
If you’re worried about job security, I don’t think you should continue reading. Well, actually, you should because everyone who will need a job, have a job could well be out of a job soon!
In the month of May, Beyonce, Alicia Keys or Jay-Z tickets aren’t the hottest tickets around. It seems pink slips have been given out to quite a large crowd. Matter of fact, it was given out to so many people that 49,000 jobs were eliminated in the month of May, which is a 5.5 percent increase from the previous month.
So, yes, the nation’s unemployment rate skyrocketed 5.5 percent in the biggest one-month jump in over 20 years.
To make matters worse, oil prices claimed to a record high and it doesn’t seem like it’s going down anytime soon. In addition, if you’re getting paid in dollars, that’s not necessarily a good thing as the value of the dollar has fell even more.
Of course, we can blame the President and the government. Yeah, they might seem like they’re going out to try to do something but honestly, they should have been doing that a quite sometime ago.
According to Friday’s Labor Department report:
- Employers eliminated 49,000 jobs in May
- The number of unemployed people grew by 861,000 and now sits at 8.5 million
- Job losses this year alone has reached 324,000
What’s going on with the United States of America? The economy is raising… the gas prices are soaring… food prices will take a giant leap in cost… tons of people are getting laid off and unemployed… and the dollar value is dropping.
This is what happens when you vote for an idiot for president… TWICE!
June 10th, 2008 at
I wish it were that simple, that forces outside of the individual are responsible for an individual’s problems.
It wasn’t long ago that full employment was defined as 5% unemployment. Something called, correct me if I’m wrong, Keynesian economic theory.
At all times of economic suffering there will be those who find ways to survive and even become wealthy. It would be quite easy, even shallow, to say that those who prosper in hard times do it by exploiting the suffering of others.
If you are a supplicant, you can be turned down. The guy in the picture is a supplicant. The guy who painted his sign, probably got rich.
July 10th, 2008 at
GM is going down because they can’t get out of a 1930’s mechano-money groupthink. Americans will be re-visited by the perils of the 30’s because China and India are blooming into their own Golden Industrial age, the one the US is leaving. We need to push full force into the environmental age, a green age, an age where, at last we realize that we are not machines, but biological entities, and can survive on things that grow! We have birth control figured out, now we need to dispose of materialism for the consumers sake and find the real biological reasoning of life, and worship at the alter of sustainable, sun-driven biological processes.