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The Horror Show

Wed, 08/11/2010 - 09:45 — Dave Culver
Section(s): 
Labor

  • Policy makers seem intent on allowing the employment crisis to fester. As bad as the July employment numbers were, a deeper look into them shows a seriously scary situation.
  • Long-Term Economic Pain
  • Jobless? Your leaders are at ease with that

Bob Herbert, New York Times | NY

Submitted by Evergreene Digest Contributing Editor Thomas Sklarski

The employment situation in the United States is much worse than even the dismal numbers from last week’s (Aug 1-7) jobless report would indicate. The nation is facing a full-blown employment crisis and policy makers are not responding with anything like the sense of urgency that is needed.

The employment data for July, released by the government on Friday (Aug 6), showed that private employers added just 71,000 jobs during the month and that the unemployment rate remained flat at 9.5 percent. But as bad as those numbers were, if you look beyond them you’ll see a horror show.

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Related:

Long-Term Economic Pain, Bob Herbert, New York Times | NY

  • Simply stated, more and more families are facing utter economic devastation: completely out of money, with their jobs, savings and retirement funds gone, and nowhere to turn for the next dollar.
  • Reich and Krugman Agree: The Government Needs to Forget About the Deficit and Fix Unemployment
  • Krugman: US "Depressed Economy" Could Last 5 Years

Jobless? Your leaders are at ease with that, Paul Krugman, New York Times | NY

  • None of them want to fix it -- so high unemployment might become a habit.
  • Punishing the Jobless


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