N.C. Unemployment Hits 11.2%

The News and Record reported more bad news on the economic front today as the unemployment rate in North Carolina rose to an “historic high” in December of 11.2%.  The previous high was last May’s 11.1%.

In his blog yesterday, economist Paul Krugman echoed his familiar refrain, warning that the “recovery [for the national economy] isn’t looking very good” and that “this recovery is going to be jobless for quite a while.” 

And this AP article from late last month was downright scary.  It suggests that Americans may be in for a full decade of high unemployment.

Meanwhile, Wall Street’s 4.1% drop this week was its worst showing since last March.  Investors are getting jittery about the Obama Administration’s plans to adopt former FED Chief Paul Volcker’s recommendations for the reform of big banks, as well as deteriorating Senate support for current FED Chief Ben Bernanke.        

As always, if you’re unemployed and looking for work, please take a look at Greensboro Public Library’s Job and Career Information page.

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