Moral Outrage
Whew! God help us!

US unemployment now worse than Great Depression

We knew the job market was bad, but the latest US Unemployment Report proves that we are in the worst slump since the 1930s. This CBS clip puts it in perspective:

“About 6.2 million Americans, 45.1 percent of all unemployed workers in this country, have been jobless for more than six months – a higher percentage than during the Great Depression…

“Here’s another problem: more than 1 million of the long-term unemployed have run out of unemployment benefits, leaving them without the money to get new training, buy new clothes, or even get to job interviews.”

If you need a visual, here’s a terrifying chart from Business Insider.

And for another perspective, The New Republic has published an illuminating piece comparing the onset of the Great Depression to the political circumstances we face now.

Unfortunately, the country seems destined to follow the same course in the current slump as it did in the 30s.

[Excerpt of an article by Julianne Escobedo Shepherd writing in AlterNet]


No Responses to “US unemployment now worse than Great Depression”

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: