AP is reporting that unemployment has reached 8.5 percent, the highest rate in a quarter-century, bringing the number of jobless Americans to a staggering 13 million.
These numbers don’t reflect those workers who have given up looking for work, or have settled for part-time work.
Bernanke said the recession could end later this year, setting the stage for recovery, if the government is successful in bolstering the banking system. [...] The Fed chief said Friday he expects to see a “gradual resumption of sustainable economic growth.” But he didn’t say when [...] The Obama administration has launched a multi-pronged strategy to turn the economy around. Its $787 billion stimulus package includes money that will flow to states for public works projects, help them defray budget cuts, extend unemployment benefits and boost food stamp benefits.
In New York City alone there are over 400,000 unemployed workers … And some of them aren’t taking it lightly. See blow for footage of NYC first annual Unemployed Olympics. I could totally win at phone toss.
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