Bad Jobs Report….Again

By on November 7, 2009

Unemployment in this recession is the highest in 26 years. The economy is still losing jobs at a rate of over 2 million annually, and the unemployment rate is above 10%. Yesterday’s report was worse than expected, but not as bad as earlier in the year. Calculated Risk has a chart (click on for larger image) showing how serious the situation is with no sign of reversing course.

Although things look bad now, when you look at 1974 it is possible to make a quick turnaround. This is the hope of the bulls right now.

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