We’re Breaking Records for Long-Term Unemployment. It’s Worse Than They Admit.

How else can you have a “jobless recovery?”

From Crooks & Liars:


When the above interview was taped in January, the actual unemployment rate was 14%. Now it’s around 15.5%. And NYT financial columnist Floyd Norris takes a look at some other depressing numbers from a recent release from the Organization for Economic Cooperation and Development:

As I went over the numbers, the one that leaped out at me was that the auto manufacturing business had added 28,200 workers. Added? That sure is not the impression you’d get from the reports coming from Detroit.

Read the rest:



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