The unemployment rate is at 8.9%– the highest since 1984. Despite a surge in government jobs crated by Big Black Brother, indications somehow show that job cuts slowed in the month of April.
The number of out of work Americans is exactly on target of what economist projected although the private sector remains cautious. Outside of government subsidized careers, there are very few new jobs in the free market. If the Department of Labor were to include individuals who are no longer collecting unemployment benefits—having exhausted that right—and those who have had to settle for part-time work—the figure would be an astounding 15.8 %.
Newspapers suffer from the burdens of unionized writers. Real Estate agents who hope to survive must create scam businesses such as Cash for Gold projects. It seems outside of healthcare, the one industry which will soon be hiring are Collection Agencies, although now it seems, as is the case with Chase Manhattan Bank, that even nasty bill collector jobs will be outsourced to Sri Lanka.
Big Bank stress tests showed positive results yesterday—how could they not when even newspapers that report on such matters are in need of loans.