Sep 4, 2009

Jobless rate highest in 26 years

A Yahoo Finance report says:

The unemployment rate jumped almost half a point to 9.7 percent in August, the highest since 1983, reflecting a poor job market that will make it hard for the economy to begin a sustained recovery.

What most employment reports omit can be found in the article at the link below - even though it is buried in the 11th paragraph:

If laid-off workers who have settled for part-time work or have given up looking for new jobs are included, the so-called underemployment rate reached 16.8 percent.

Nearly seventeen percent! How’s that for Hope & Change?