More evidence that the economic "recovery" ain't a recovery at all for us average Joes
ya feelin' better about the economy yet...? me neither...
and as numerous writers on the economy far wiser than i have pointed out, that 9.8% figure is deliberately and artificially low given the way it's calculated to make a thoroughly dismal report less gagging than it really is...
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The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report is evidence that the worst recession since the 1930s is still inflicting widespread pain.
Persistently high unemployment could weaken the recovery as consumers, concerned about their jobs and incomes, restrain spending. Consumer spending accounts for about 70 percent of the nation's economy.
and as numerous writers on the economy far wiser than i have pointed out, that 9.8% figure is deliberately and artificially low given the way it's calculated to make a thoroughly dismal report less gagging than it really is...
Labels: economic instability, recession, recovery, unemployment
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posted by profmarcus at
10/02/2009
