The government's report Friday of an 8.1 percent unemployment rate equals the jobless number that the Obama administration has projected for the entire year. Few economists think that optimistic projection will hold, and many think that more big job losses are likely, with grim implications for the housing and banking crises. Full Story »
Posted by Derek Hawkins
Good reporting, albeit scary. We progressively regress. First , it was the worst since the 90s. Then, 1983. Now it’s as bad as 1940. Guess which date is next. The horror is that no one–not even cable pundits who know it all–has the slightest idea how far down we’re headed and with what result.
“This is what falling off a cliff looks like,” said Larry Mishel, the president of the liberal Economic Policy Institute. More »
This is an informative article with sufficient evidence to support its premise. Links at the end are a nice addition.
This deep recession is likely to change our economy. Those who are willing to make changes and think deeply and transform their companies are likely to provide a lead to new shape of our economy.
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