US Unemployment Highest Since Great Depression

by Alex M. Parker
USNews&World Report
February 16, 2012

After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today.

And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven’t sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent.

The CBO made its comments in a report examining the long-term effects of joblessness, and possible policy options to boost employment, including unemployment insurance reforms and job training programs. The report came at the request of Democratic Michigan Rep. Sander Levin, but Republicans quickly jumped on the chance to bash President Obama’s stimulus program, which is also reaching its three-year anniversary today.

“The stimulus is a stark reminder of how the president got the policies he wanted, and how those policies have failed the American people and are making things worse,” said Texas Republican Rep. Jeb Hensarling.

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One Response to US Unemployment Highest Since Great Depression

  1. Joyce says:

    Whoever believes this is ‘truth’ is delusional. The number of amerikans that are unemployed is more likely 45% or if the underemployed are counted, even higher. Of course the overpaid government ‘workers’ {quite a joke} is about all that are paid more than they are worth.. Seriously. This whole system and their ‘kool-aid’ propaganda isn’t even worth my time reading about it.. it is about to fall apart.. their lies exposed. Makes me violently ill. Liars and their lies… gets more sickening each day.

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