From the New York Times:
Unemployment Rate Rises to 6.7%
New figures from the Labor Department show a much sharper
worsening of employment conditions than economists expected.
Some 533,000 nonfarm jobs were eliminated in November, the
most in one month since the mid-1970s, and figures for the
prior two months were revised upward by 199,000. The
unemployment rate rose two-tenths of a point to 6.7 percent
in November; it would have been even higher if large numbers
of discouraged workers had not given up looking for work.
Note that last line, this rate would have been even higher if people had not GIVEN UP looking for work.
If you have any doubt about this, talk to any Carleton seniors, employers are not hiring. Many employers have hiring freezes or are filling open positions at a much slower rate then they once would. There are fewer open positions because no one is leaving their jobs. Those who continue to hire (the government) have massively increased competition. This is not good.
I'm listening to a show about the working poor and unemployed in Boston. A food pantry and heating assistance organization's (ABCD) director is talking about how his clients used to be those who were elderly, and ill and/or disabled. Now his clients include all of those, plus working poor who can no longer afford food, heat, housing, and newly unemployed young professionals. Read and listen here.
Silver lining: Carleton College and a liberal arts education provides knowledge of how to do things not just what to do. In other words we are not trained as advertisers, or consultants, but we know how to write (often on a short deadline), we know how to take initiative, lead, work on teams. If you get hired, you're likely to be indispensable to your employer...right? Hire me?