There's more bad economic news.... Some 159,000 jobs were lost in September, the largest monthly drop in five years and the ninth straight month—in all of 2008—the U.S. economy lost jobs.
This from Bloomberg business news service:
The world’s largest economy may be headed for bigger job losses as the worst financial meltdown since the Great Depression causes consumers and companies to retrench.
The U.S. Department of Labor report released today also shows the unemployment rate remained at 6.1 percent, largely due to the large number of jobless workers who no longer are counted because they have given up looking for work. In addition to the 9.5 million workers who meet the Labor Department’s official definition of “unemployed,” another 6.1 million are working part-time because they can’t find full-time work, and half a million have given up looking for a job.
Health Insurance likely gone with job
Not only have these Americans lost their jobs, but more likely their health insurance also. With most Americans relying employer paid health insurance to access the U.S.'s complicated health system, this news deals a double blow to the economy.
We in trouble !!!!!
ReplyDeleteEight years of Bush and this is all the thanks we get --- record job loses, record debt, and military conflicts in three different countries all at the same time. Go ahead, vote Republican!
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