The overall May 2011 unemployment rate still hovered around 9% and the rates for African Americans (16.2%) and Latinos (11.9%) were even higher, not to mention the youth unemployment rate (24.2%). But guess what the most relevant rate for those Washington insiders themselves might be? Probably the rate for individuals over 25 with at least a bachelor's degree.Deficits, schmeficits. We need to do something to create jobs -- short-term, long-term, make-work, whatever -- before the bottom really falls out of things. When 60% of the unemployed have been out for more than 6 months, you're looking at a huge swath of people just giving up...
Now that was a relatively puny 4.5% in May. Which explains why the Village can concentrate on worrying about the deficits.
Tuesday, June 07, 2011
The air's just fine where *I* am!
I'm pretty much just going to cut and paste from Atrios about the state of our economy and the lassitude (or stupidity) in dealing with it: