Friday, May 08, 2009

Unemployment Keeps Climbing

Wall Street may be hopeful because we only lost 539,000 jobs in April (though the number will probably be revised upward in a week or so) but for those people and the 5.7 million who are already out of a job due to this recession there is no reason to celebrate. We are now at our worst levels of unemployment since 1983 and there is no reason to doubt that we'll be surpassing the bad times of the early 1980s.