Tuesday, August 17, 2010

People Giving Up On The American Dream?

Check out this piece from UK Guardian. Though it mentions that unemployment is 9.5%, that is generous. I honestly it is around 15% including myself being unemployed. New York Times had a similar post last week called "Jobless and Staying That Way" which I believe I linked.

The headline jobless figure of 9.5% is bad enough but does not begin to convey the problem as it fails to measure those who have stopped looking for work. Over the past three months alone more than a million Americans have fallen into that category: effectively giving up hope of finding a job and dropping out of the official statistics. Such cases now number some 5.9 million and their ranks are likely to grow as millions more find their jobless status becoming a permanent state of hopelessness. Surveys show that with each passing week on the dole their chances of finding a job get slimmer.

Read more at UK Guardian

h/t Saberpoint

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