Legal Commentary

Unemployment Hits 9.7%

By Big Tent Democrat

NYTimes:

The unemployment rate, which dipped in July as Americans left the work force and stopped looking for jobs, resumed its climb last month, rising to 9.7 percent from 9.4 percent, the Labor Department reported on Friday in its monthly snapshot of the job market.

. . . “High unemployment rates are going to be with us for quite a while,” Michael Feroli, an economist at JPMorgan Chase, said. “It’s going to be a long, long time before we see 6 percent or 7 percent unemployment.”

How's that recovery working out for you? Aren't you glad President Snowe replaced 80 billion dollars of stimulus spending with tax cuts?

Speaking for me only

Full post as published by TalkLeft on September 04, 2009 (boomark / email).