Loss of 533,000 US jobs is sharpest in 34 years
Last month, businesses across the country handed out pink slips at a dizzying pace. Full Story »
Posted by Derek HawkinsReview
This news story factually reports data that have been released by various government agencies and reacted to by Wall Street. Not much good tidings of great joy here. What’s most enlightening is that the higher than expected job loss figures indicate the end of this mess lies far into the future, not in 2009, or even in 2010 as some of the optimistic pronouncements from experts would lead us to believe.
Because there is no way to measure the number of out-of-work persons who have given up seeking employment, official government figures are inaccurate and undoubtedly higher, which also skews the official data–meaning we’re worse off than we know. And who knows what sweet little treats the Bush administration–the most secretive in history–has left for us in the Easter Bunny’s basket?