Unemployed—and Staying That Way
OPS_admin | May 10, 2009 | Comments 0
Unemployed—and Staying That Way
The pace of job losses has leveled off but the unemployment rate continued to rise rapidly in April. While employers have stopped shedding workers at an accelerating rate, the sheer number of unemployed workers continues to accelerate and the overall jobs picture remains grim. Long-term unemployment is at an all-time high and nominal wage growth has come to a halt. For those unlucky enough to have lost their job, a new one appears to be increasingly difficult to find.
Employers shed 539,000 jobs in April, and while this is down from the past few months, it remains the ninth-largest one-month fall in employment since the end of World War II, indicating that the troubles in the labor market are far from over. The economy has shed 5.7 million jobs since the recession began in December 2007; nearly half of those (2.7 million) occurred in the past four months.
The unemployment rate is now 8.9 percent, a 26-year high and an increase of 0.4 percentage points in April alone. Six million additional people became unemployed over the past year—more than any other year since the U.S. Bureau of Labor Statistics began tabulating this data just after World War II—and there are now a total of 13.7 million people unemployed—more than at any other time on record.
via Unemployed—and Staying That Way.
Filed Under: Economy - Labor
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The oligarchs openly talking about a coup d'état in America?
Multi-millionaire lobbyist Grover Norquist is calling for the impeachment of President Obama. In an interview with the right-wing National Journal - Norquist warned that if President Obama wins re-election and decides to let the Bush tax cuts for the top 2% expire at the end of the year - then Republicans will "have enough votes in the Senate in 2014 to impeach [him]."What does that mean? It means that the super rich in America - and their political operatives like Norquist in Washington, DC - have now compared a tiny tax increase on the wealthy to high crimes and treason - the only Constitutional basis Congress can use to impeach a President. It sounds like the oligarchs are now openly talking about a coup d'état in America.-Thom(Do you think will try it? Tell us here.) -
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. 
