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Thursday, January 29, 2009

Record Unemployment

This is the pivotal aspect of the recession. We need more jobs.

I've said this a million times but you can go down any street in America, urban, suburban, or rural and see a huge volume of work that needs to be done to simply maintain the infrastructure. So the work is there, the money is not, but its not like there isn't anything to do. There is a massive backlog of work that needs attention. There are not enough people in America to do all of this work. So, we don't need to hear that there is no work. There's plenty of work, but there needs to be compensation. The printed money spigot needs to be opened to full.

Reuters: Jobless claims hit record peak, orders plummet
The number of people remaining on the benefits roll after drawing an initial week of aid, or continued claims, rose 159,000 to a higher-than-forecast 4.776 million in the week ended January 17, the most recent week for which data is available.

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