Today, we have a pretty good indication about where the American economy stands.
The New York Times reports that the unemployment rate is at its highest level (6.1%) in five years.
Employers cut 84,000 jobs last month, more than economists had expected, and the Labor Department said that more jobs were lost in June and July than previously thought.
So far, 605,000 jobs have disappeared since January. The unemployment rate, which rose from 5.7 percent in July, is now at its highest level since September 2003.
Stock index futures, which had been down slightly before the release of the report, quickly plummeted, signaling another rough day on Wall Street.
New York Times
Whether they prefer to talk about economic issues or not, the presidential candidates are going to have to address this.
Perhaps they'll do that when they meet in their first debate three weeks from today.
No comments:
Post a Comment