Monday, December 6, 2010

Unemployment Up - And Responses?

From the Bureau of Labor Statistics:

The number of unemployed persons was 15.1 million in November. The unemployment rate edged up to 9.8 percent; it was 9.6 percent in each of the prior 3 months.

Among the major worker groups, the unemployment rates for adult men (10.0 per-
cent), adult women (8.4 percent), whites (8.9 percent), and Hispanics (13.2 per-
cent) edged up in November. The jobless rate for blacks (16.0 percent) showed little change over the month, while the rate for teenagers declined to 24.6 percent. The jobless rate for Asians was 7.6 percent, not seasonally adjusted.

Among the unemployed, the number of job losers and persons who completed temporary jobs rose by 390,000 to 9.5 million in November. The number of long-term unemployed (those jobless for 27 weeks and over) was little changed at 6.3 million and accounted for 41.9 percent of the unemployed.

This is an absolute disaster - so what's the solution? No, it's not giving tax breaks to the rich. Nor is it discontinuing unemployment compensation to force people to go back to work. It's more stimulus - a lot more. But that's not going to happen - thanks to the idiots in Washington who think deficit reduction is more important than putting people to work - and that idiocly seems to go all the way to the top.

Bernie Sanders tells it like it is:

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