Unemployment rates - Worse than I thought

[Orchidflower]

I knew this country was in trouble and there was more than normal unemployment out there, but geesh! I didn't know it was THIS bad. Normally, I'd consider anything over 6% to be bad, but today I'd be thrilled to see the majority of cities with 6% unemployment today. This country definitely IS in big, big trouble: (right hand column for unemployment rates)

Full List: Cities Where Americans Are Getting Richer - Forbes.com

 

[Pete]

Of course those rates are a bit of a lie. They changed how they compute them a few years back. They are truly far worse. Seems to me Americans are competing with a billion unemployed Asians. Tough sledding ahead.

 

[ziggy29]

Good time to not need a j*b...

 

[audreyh1]

Not only that, but I've become convinced (some of my financial gurus have convinced me - like ECRI) that we are looking at chronic high unemployment in the US for the next decade. Due to slow economic growth and shorter business expansions between recessions. A rather bleak outlook for those needing employment.

The "good" side of this for those living off their assets, is that this will help keep inflation down, in spite of the large national deficit.

Audrey

 

[Orchidflower]

Not good news, kids...