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Unemployment 9.5% and Rising

Unemployment 9.5% and Rising

Posted by Frank Steinberg | Jul 02, 2009 | 0 Comments

From Bloomberg: new DOL figures show 467,000(!) jobs lost in June.  That's 9.5% unemployment, and the consensus seems to be that any recovery in the relatively near future will not see us regain those losses.

We pointed out that May's job loss was roughly the equivalent of putting St. Louis out of work all at once.  In June we did the same to Sacramento.

According to Bloomberg, since the recession began in December 2007 the economy has lost 6.5 million jobs.  That's about the same as the total population of Los Angeles . . . . . . . . times two.  We're closing in on having the equivalent of the population of our largest city, New York, out of work.  And we're doing it at a scary rate.

About the Author

Frank Steinberg

Frank is the founder and principal of Steinberg Law, LLC. A Jersey boy born and bred, he focuses on employment litigation and counseling, business litigation,  and aviation law. Following law school and a clerkship in the federal district court Frank spent his early career with large litigation ...

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