Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession. The new figures, released by the Labor Department Friday, showed the crucial employment market deteriorating at an alarmingly rapid clip, and handed Americans some more grim news right before the holidays. As companies throttled back hiring, the unemployment rate bolted from 6.5 percent in October to 6.7 percent last month, a 15-year high. Job losses were widespread, hitting factories, construction companies, financial firms, retailers, leisure and hospitality, and others industries. The few places where gains were logged included the government, education and health services.
When I watch the news in the morning, as I eat my cereal and drink my coffee it's hard not to be overwhelmed by the economic numbers being thrown around. The news has become so consistently and so astonishingly pervasive that I feel as if I've lost all perspective. Yes, I still have a job, but....
In an effort to put our economic situation into some sort of perspective, I think I've hit on something. Not that this makes things any less depressing, mind you...in fact, I think it has the exact opposite effect...but work with me here. Think Wyoming...as in the entire state of Wyoming- every man, woman, and child.
Last month, the US economy dropped 533,000 jobs. In effect, a sector of the economy the size of the state of Wyoming, (pop. 522,830) is now out of work. Think of it this way; every single Wyoming resident from Cheyenne to Laramie to Gillette to Dead Indian Pass and everywhere in between is now wondering how they're going to feed their family and pay their mortgage. 'Course, these folks did vote for Our Glorious and Benevolent Leader ©. TWICE. One could perhaps make the observation that if you sow the wind, you should expect to reap the whirlwind at some point, but I don't think this is the appropriate time to be pouring salt in so many wounds.
Man, we are SO (&^%$#. NOW can we swear in Barack Obama??