No End In Sight For Job Losses
http://news.yahoo.com/s/ap/20090709/ap_on_bi_ge/us_economy
Close to seven million Americans are collecting unemployment checks. Over half a million newly laid off workers claimed unemployment insurance last week. The unemployment rate at 9.5% is the highest in twenty six years.
One would think that things cannot get any worse. But analysts believe otherwise. They are predicting steep job losses will continue for a while and unemployment rates will touch 10%.
The outlook is bleak and one wonders how those who have extinguished their unemployment insurance are coping. People have left their homes, are living in their cars if they have one that is, or have moved into “tent” towns which have sprung up on the outskirts of many cities. Not at all a happy picture.
