Jobless Rate Jumps
May 8th, 2009. Filed under: Finance & Fitness Fridays.The Washington Post just sent out a breaking news alert. The jobless rate jumped to 8.9 percent in April with layoffs slowing down to only 539,000. Only, she says? That doesn’t include all the salary freezes, shorter hours and mandatory time off without pay.
That jobless rate also doesn’t include all the people who just gave up on finding a job or accepted part time work instead. That makes the true jobless rate 15.8 percent. The government doesn’t want us to hear that number. It might make people realize just how bad the economy of our country is getting.
We have the highest unemployment rate since late 1983. And that’s after the government has a burst of hiring 72,000. Read more about it here.