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Thursday, August 20, 2009

Unemployment up once again...

The stimulus was supposed to keep us below 8% unemployment, that didn't happen.

In fact jobless claims have consistently been rising.

Ed Morrisey has an excellent post on this today at HotAir.

Ed shows a great contrast between this recession and the previous recession..

The BLS also tracks “discouraged workers,” those who have left the workforce altogether and are not seeking jobs. That number has also reached highs not seen in at least a decade, with 796,000 workers currently falling into this category. Compare that to the last recession and recovery, where that number never rose above 534,000.

As Ed points out in his post, the last recession recovery was called a "jobless recovery"...I wonder what they would be calling this if a republican were president instead of The One™. the say, go read the whole thing.

Aaron B. Gardner