Robert Reich: It's a Depression

[sophiaserpentia]

Robert Reich: It's a DepressionThe March employment numbers, out this morning, are bleak: 8.5 percent of Americans officially unemployed, 663,000 more jobs lost. But if you include people who are out of work and have given up trying to find a job, the real unemployment rate is 9 percent. And if you include people working part time who'd rather be

Comments

[mushroom104]

Word.

[nebris]

Ditto.

~M~

[cieldumort]

With U6 now at 15.6%, it is now only 1.1% away from the 16.7% our poll determined would mark this community's decision to refer to this recession as a depression (provided U6 stays at or above 16.7% for at least 8 months, which seems entirely possible).