Record High Unemployment, And Climbing
by Buck • Friday, April 3rd, 2009 - 7:19 pmAs our economy continues it’s downward slide and a record number of people are now without work, some may start to blame the Obama administration. In all fairness, it’s important to remember this mess belongs to republican control of yesteryears.
Tagged: Mark Zandi, jobless ranksUnemployment soars to 8.5 percent; 13M now jobless
WASHINGTON (AP) — Unemployment zoomed to 8.5 percent last month, the highest in a quarter-century, as employers axed 663,000 more workers and pushed the nation’s jobless ranks past 13 million. The hard times were only expected to get harder – a painful 10 percent jobless rate before long.
The current rate would be even higher – 15.6 percent – if it included laid-off workers who have given up looking for new jobs or have had to settle for part-time work because they can’t do any better. That’s the highest on record for that number in figures that go back to 1994. [...]
“It’s an ugly report, and April is going to be equally as bad,” said Mark Zandi, chief economist at Moody’s Economy.com. “I couldn’t see any rays of sunshine. Nothing.”
