TIME Cover :: February 1982Shall I take a cruise, or stay in and crawl up into a ball ...?
by Pat Darnell and Pa Rody
"The jobless rate rocketed to 10.2 percent in October , the highest since early 1983, dealing a psychological blow to Americans as they prepare holiday shopping lists. It was another worse-than-expected report casting a shadow over the struggling recovery. (ibid)"1980's: It was introduction to Iran and MidEast bullshit oil cartels. It was a nauseating time for many of us in our prime, starting careers. "Unemployment at 11 percent would be a post-World War II record. Only once since then has joblessness hit double digits in the United States — from September 1982 to July 1983, topping out at 10.8 percent." (AP)
"The bracket that defines the “young” and their current unemployment level is the ages of 16-24. 52.2% of those in that age bracket are now unemployed, which is a brand new high since the end of the World War II, according to the New York Post. This means that millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time. Labor Deptartment statistics also show that the number of chronically unemployed — those without a job for 27 weeks or more — has also hit a post-WWII high." (September 27, 2009 · Filed Under General Politics. STOP; Article: Unemployment for the young at 52.2% – a new post World War II high)Next Report from the Middle: " 'There are six million small businesses in the country, those that employ less than 100 people, and a jobs stimulus bill should include tax credits to give incentives to those businesses to hire people,' the former Labor official said."
" 'If each of the businesses hired just one person, we would go a long way in growing ourselves back to where we were before the recession,' Angrisani noted. [SOURCE]"
To be continued ...