by Alexis Cala, PICurrent Assistant Producer
Courtesy of Swanksalot
December did not hold much good news for the U.S. Department of Labor.
While we lost a total 2.6 million jobs in 2008, more than half a million payroll employees lost their job in December alone. (Read the full story on The Wall Street Journal)
Many are expecting the economy to continue to tumble before it gets any better too. The unemployment rate for December rose to 7.2 percent. That’s a 16-year high! What’s worse is that economists are forecasting another spike in the unemployment rate, likely more than 8 percent, over the months ahead.
Quick economic recap:
- Unemployment rate rose to 7.2 percent (and rising?)
- 11.1 million American’s are currently unemployed
- 524,000 non-farm payroll jobs lost in December
- 2.6 million jobs were cut in 2008
Where do millions of unemployed people turn for support?
The incredible amount of job losses, lack of open positions, and the 4.6 million Americans already collecting unemployment have created several problems for unemployment offices around the country. With 642,000 people discouraged to even look for work, don’t be surprised if you find longer lines and even more frustration at the unemployment office. (Check out Mike’s post on unemployment benefits)
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