Friday, July 08, 2011

On the Mend. Yeah. Right.

Economic recovery, capitalist style:
Two years after the recession officially ended, companies are adding fewer workers despite record cash stockpiles and healthy profit margins.
Including discouraged workers and those working part time, but who would prefer full-time work, the “under-employment” rate jumped from 15.8 percent to 16.2 percent.

Unemployment has topped 8 percent for 29 months, the longest streak since the 1930s. It has never been so high so long after a recession ended. At the same point after the previous three recessions, unemployment averaged just 6.8 percent.

And those who do have jobs are earning less.

Job Creators, my ass. More like Freebooters.

Labels: ,


Post a Comment

<< Home