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High jobless rate streak could break ’80s record

6:16 AM 12/02/2010
Vince Coglianese

Not since the early 1980s has the nation’s unemployment rate been so grim for so long, a government report due Friday is likely to show.

Many economists predict the report will say that November’s jobless rate held steady at 9.6%, making it the 19th consecutive month that the unemployment rate was above 9%. That breaks the post-World War II record set in the 1980s recession.

The dubious milestone shows that even if job growth picks up as expected in coming months, progress will be slow, and it will take years to put a big dent in the unemployment rate.

Full Story: High jobless rate streak could break ’80s record – USATODAY.com

Tags: Business cycle, Economics, Labor, Labor economics, Macroeconomics, Recessions, Unemployment

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  • wodiej

    I have been unemployed since February. I had 60 days notice and 60 days severance. I collected 6 months of unemployment. I knew before I lost my job that it was being moved out of state. I have applied for hundreds of jobs from minimum wage on up. In two years I have had 5 interviews. I have done all kinds of manual labor in the past-mow lawns, paint houses-even my old fast food job at Arby’s. I am not too proud to do manual labor. I have 2 decades of experience and a college degree now. It is bad in the market. Some weeks I have a hard time finding something to apply for. I know some people are not looking but many are.

    • oldguy5

      I wish you nothing but the best. Don’t give up, I remember back in the 70′s my wife and I had just had twins to go along with a one year old, just bought a small home and I lost my job.

      My point is we came out of it and so can you, keep plugging and “never give up” or “in”.

      Good luck!!!!

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