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Welcome to Armageddon Online - Disaster News, Future Scenarios, Preparedness and Survival |
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The News -
Economy
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September 04, 2009 |
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Unemployment for teenagers stands at nearly 26 percent. More than 758,000 workers are so discouraged they quit looking for jobs altogether, by far the biggest such number since the Department of Labor started tracking it in 1994. Damage continues to mount in the manufacturing, financial and construction sectors. In all, some 14.9 million people are out of work and looking for a job. The pace of U.S. job losses slowed in August while the unemployment rate reached a 26-year high, signaling the recovery from recession will be slow to develop. Employers cut payrolls by 216,000, fewer than forecast, after a 276,000 drop in July, Labor Department data showed today in Washington. The jobless rate rose to 9.7 percent; the so- called underemployment rate -- which includes part-time workers who’d prefer a full-time position and people who want work but have given up looking -- reached a record 16.8 percent. Pity the unemployed, but especially pity the teenage unemployed. According to today’s job report, the overall unemployment rate (the percentage of people in the labor force not working but looking for work) in August rose to 9.7 percent, its highest level in 26 years. The teenage unemployment rate, however, is at 25.5 percent, its highest level since the Bureau of Labor Statistics began keeping track of such data in 1948.
Your faithful webmaster is STILL one of the unemployed  I've applied to a dozen places, and only gotta a few call backs. The only problem is that the call backs were to tell me "sorry sir, we're not hiring at this time". These new numbers and predictions really worry me. I sure as hell can't make it til 2014 without a viable job... I don't think my friends that got laid off can either. Something has to break... |
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