It's probably the worst jobs market since the Great Depression. The Obama administration continues to buy into the Geithner/Summers/Wall Street view of the world which puts Wall Street above everyone else at the expense of everyone else. Americans are generous people who grudgingly accepted the bailout to prevent an even worse economic failure but enough is enough. The greed and the acceptance of that greed - regardless of words - by the White House is wearing thin as Americans wait for the upside to the bailout. All pain and no gain can only be tolerated for so long. Meanwhile the 17.5% and their friends and family look at the outrageous bonuses that are being lined up and wonder how it can be possible.
In all, more than one out of every six workers — 17.5 percent — were unemployed or underemployed in October. The previous recorded high was 17.1 percent, in December 1982.
This includes the officially unemployed, who have looked for work in the last four weeks. It also includes discouraged workers, who have looked in the past year, as well as millions of part-time workers who want to be working full time.
The official jobless rate — 10.2 percent in October, up from 9.8 percent in September — remains lower than the early 1980s peak of 10.8 percent.
