Friday, June 4, 2010

Why we're falling into a double dip recession

By Robert Reich
We're falling into a double-dip recession. The Labor Department reports this morning that the private sector added a measly 41,000 net new jobs in May. But at least 100,000 new jobs are needed every month just to keep up with population growth. In other words, the labor market continues to deteriorate. The average length of unemployment continues to rise -- now up to 34.4 weeks (up from 33 weeks in April). That's another record.
Sad news from south of the border. Full article here

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