Sunday, January 18, 2009

Unemployment In The Cities

A forecast from the U.S. Conference of Mayors produced a harsh picture of unemployment rising in cities and in some cases to well over 10%.

Reuters: Almost all U.S. cities to lose jobs in 2009: forecast
All but five U.S. cities will experience job losses this year, with New York suffering the largest decline...

Unemployment rates will rise above 10 percent this year in 70 of the 363 metropolitan areas in the United States, Global Insight said.

2 comments:

Glynn Kalara said...

BV$H made good the Big Banks losses and they've returned the favor by keeping all the $$ and using it for more mergers. Loans? LOL! Yea, if your another bank, maybe. The message BV$H and the system is leaving us is this. If your a "rich" crazy ass gambler we support u and better yet we'll bail u out when u lose, if your just out of work , basically FU get better friends.!
Obamas message will be if you work for Gov't happy days are here again and get ready for the BIG pay day! If your just out of work, Gee that's tough, get better friends and oh here's a few food stamps chump.

Jim Sande said...

Job creation is a very strange animal. Most governments jobs have an amazing series of hoops to jump through and there is usually a built in paternalistic aspect under the radar. I remember the Carter years and how people were hired for federal jobs often times came from wealthy families and were anything but the poor and working class people who were struggling the most. Mark my words here, many Obama jobs will go to the kids of wealthy liberals, coming out of college.