This morning I read in the NY Times that there has been a drop in the unemployment rate, to 9.7 percent in January from 10 percent in December. Good news, right? Wrong. Economists are increasingly worried that growth will be slow, and many of them predict yet another downturn (with joblessness being at 11% by the end of the year).
Even lucky working folks are under pressure. The underemployment rate, which, according to the Times, “counts people who have given up looking for work and those who are working part-time because of a lack of full-time positions,” has steadily risen over the past year. Last month, it reached a whopping 16.5 percent. [Read entire post here]
