14.1% and accelerating …

c.f. here

The Labor Department reported Friday that 48 states and the District of Columbia saw employment conditions deteriorate last month. The fallout from the longest recession since World War II, was the worst in Michigan as automakers cut tens of thousands of jobs. Its unemployment rate rose to 14.1 percent.

I head this morning that it was 14.1% in May.

I wonder when we are going to stop using the euphemism “the longest recession since the great depression”.

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3 thoughts on “14.1% and accelerating …

  1. “I wonder when we are going to stop using the euphemism ???the longest recession since the great depression???.”

    When the major news outlets consistently provide cogent, rational analysis (read: when pigs fly). Or perhaps if it worsens to a bona fide depression. Though, if that happens, they’ll probably begin calling it “The Second Great Depression”.

  2. @TB

    All entrepreneurs are by definition, optimists. So I can’t be a pessimist.

    Then again, the old adage “when you are up to your ass in alligators it is difficult to remember your initial objective is to drain the swamp” could apply.

    I’m just worried that the “green shoots” I hear about may be mold … or fungus.

    The day job is going like gangbusters, likely I need to hire one or two more people soon. Its being embedded in a sinking part of the country, seeing all my friends confronting this … Starts to get to you after a while.

    But I am an optimist. We have more inquiries, and more orders than I can remember, and the number of quotes we are generating is through the roof. This is good. I am optimistic … about us and our products and services. Many more inquiries on the services side than in recent months. This is also good.

  3. Dontcha know that when your neighbor loses his job, it’s a recession; when you lose your job, it’s a depression? The journalists are still workin’…

    -SATD.

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