Meanwhile, the economy is still tanking

Meanwhile, the economy is still tanking. Here's a signed editorial in the NYTimes: The U.S. is hemorrhaging jobs. On Friday the government reported that 108,000 more jobs were lost in March. Some 2.4 million jobs have vanished since the nation's payrolls peaked two years ago.The jobless rate held steady at 5.8 percent last month, but that is extremely deceptive. People who have become discouraged and stopped looking for work are not counted when the unemployment rate is calculated. This keeps the official rate artificially low. There are five million people in the discouraged category and their ranks are growing. The CEOs laying off all these people don't think it's going to improve soon. [Ceejbot]

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