Sunday, September 07, 2008

Unemployment Rates in the USA

We live in a rather steady employment environment in this area. However, due to the high prices of gasoline, many of the plants are beginning to shut down a week at a time. Some have gone to 4 day weeks. And yesterday I read in the paper that unemployment had hit a 5 year high of 6.1%. This is usually a time of year when most unemployed people have gotten a job but we still we see "Help Wanted" signs everywhere. But it really hurts when the big plants have to cut back and let employees go who have been there as long as 25 years or more. Sure you can pick up a job at McDonalds or Wendys in a New York minute but it won't pay your mortgage and keep food on the table and it sure won't pay for the gas to get to that job. Winter is coming on and the companies are already letting us know they are going to raise our heat and light bills by 30%. Where is the money going to come from? Retirees are going back to work at part-time jobs to buy their prescriptions and food. They said so far 605,000 jobs have vanished and that employers cut their payrolls 84,000 people in August. That is the 8th straight month of losses. Scary isn't it?

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