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alstry (< 20)

50% Unemployment Is Just About Here



October 18, 2011 – Comments (2)

East Cleveland Ohio Mayor - Announces Major Layoffs Coming

Government employs OVER 22,000,000 people at the Federal, State, and Local Level. 

Remember.....if we factor millions of self employed real estate agents, construction workers, mortgage brokers, and other independent contractors that are not making a living & NOT counted as unemployed...

plus the millions of workers who are about to be replaced by technology and jobs lost to delveraging.....

it is easy to see that we will very soon be at a 50% unemployment rate in a nation of 320 million people and only 140 million currently working. 

When the unemployment rate was calculated in the GREAT DEPRESSION, it was defined as over 16 and not working.  If we used the same standard today, our unemployment rate would be higher than back then.....

2 Comments – Post Your Own

#1) On October 18, 2011 at 10:12 PM, alstry (< 20) wrote:

Banks slashing employees as they become technologically driven....

RBS Preparing To Cut Invest Banking Unit, 5,000 Jobs At Risk- Report

Morgan Stanley Securities Co ( Japan ) - up to 1,300

Bank Layoffs Exceed 100,000: Where the Cuts Are At

BofA Bank of America - 324 Layoffs in Manhattan

JP Morgan Chase - 1,000 

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#2) On October 21, 2011 at 12:38 AM, oshiri (< 20) wrote:

     F O L L O W      T H E      M O N E Y ! ! ! 


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