They will be worse in December and worse still in January. And that is without the Big Three automakers all going belly up together. The official unemployment rate will certainly breach 10% during this depression and possible approach 15%. The real unemployment rate, the U-6, will likely exceed 20%.
Friday, December 05, 2008
It Has Only Just Begun
The November jobs loss numbers (533,000) are only the beginning.
They will be worse in December and worse still in January. And that is without the Big Three automakers all going belly up together. The official unemployment rate will certainly breach 10% during this depression and possible approach 15%. The real unemployment rate, the U-6, will likely exceed 20%.
They will be worse in December and worse still in January. And that is without the Big Three automakers all going belly up together. The official unemployment rate will certainly breach 10% during this depression and possible approach 15%. The real unemployment rate, the U-6, will likely exceed 20%.
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