December 6, 2010
Editor’s note: The Labor Department’s statistics don’t include the underemployed and those who have stopped looking for work. MSN Money says that when the underemployed and the discouraged are added to the numbers, the unemployment rate rises to 16.6%. Others indicate the number is actually well over 20%.
- A d v e r t i s e m e n t
As unemployment in the U.S. nears the dreaded 10 per cent mark, it is a chart to chill the bones of any job hunter.
Comparing previous recoveries from all 10 American recessions since 1948 to the current financial crisis, the stark figures show almost no improvement in employment figures in the past year.
Some commentators have described the comparison as ‘the scariest jobs chart ever’, pointing to the fact that only the 2001 recession took longer to bring employment back to pre-crisis levels.