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Jobless Claims Hit 26-Year High
Kathy Willens/AP
More bad economic news: The number of American workers claiming unemployment benefits reached a 26-year high last week. New claims for state unemployment benefits jumped 58,000 to 573,000. Continuous unemployment claims also surged by 338,000 to about 4.5 million in the week ending November 29. A Citigroup economist predicted that the unemployment rate will exceed 7 percent before the year’s end.
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We can only hope that unemployment doesn't get higher, but in the meantime, Frank Ackerman, author of "Poisoned for Pennies," has some thoughts on unemployment and environmental health: http://blog.islandpress.org/272/frank-ackerman-now-that-you%E2%80%99re-unem ployed-don%E2%80%99t-you-feel-healthier
I know I'm too young to remember or even understand some of this, but: when does a recession become a Depression? Nearly 4.5 million people out of work! That'll take the wind out of your sales. I'm lucky to be one of the fortunate few.
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