Posted on 09/16/2009 3:45:01 AM PDT by Red in Blue PA
The economic downturn will likely cost as many as 25 million people their jobs by end-2010 as the unemployment rate nears a record 10 percent in the OECD group of countries, according to a report released on Wednesday.
The Organization for Economic Co-operation and Development said 15 million jobs were lost between end-2007 and July 2009 and 10 million more could go by the end of next year despite signs that the economy is picking up.
"A major risk is that much of this large hike in unemployment becomes structural in nature," the report said.
(Excerpt) Read more at cnbc.com ...
“”A major risk is that much of this large hike in unemployment becomes structural in nature,” the report said.”
Thats the goal of the BO administration.
This apparently does not include the millions of jobs that would be lost if cap and trade or Obamcare passes.
Scariest thing I’ve heard recently?
“Having a job- that’s the New Wealth...”
Hey,no problem, the messiah saved 100,000 million jobs.
right????????????
That means we will not see companies bring back the number of people they laid off, even if demand picks up and the economy gets better.
Proposed healthcare and carbon-taxes threaten the start of new small businessess that would normally employ the remaining difference over time.
Since that will not happen, we can expect unemployment rates to remain high and voter dis-satisfaction to increase.
DESPITE LIES THAT THE ECONOMY IS IMPROVING!
LLS
I agree. Taking advantage of a crisis is the name of the game for Big Government.
While all of the simple-minded actually believe that he cares. Totally risible.
U-6, which includes those who are working part time, but need full time work, is nearing 17%. Then there those who are unemployed for over one year and ‘discouraged’; they just disappear off the stats. In addition some who are still employed have gone through one or more pay cuts.
Gotta love those ‘green shoots’.
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