Wednesday, February 10, 2010

The Great Depression 2.0

Wake up. For many, it's a Depression by Bob Herbert:
The highest group, household incomes of $150,000 or more, had an unemployment rate during that quarter of 3.2 percent. The next highest, incomes of $100,000 to $149,999, had an unemployment rate of 4 percent.

Contrast those with unemployment in the lowest group, annual household incomes of $12,499 or less. Their unemployment rate during the fourth quarter of 2009 was a staggering 30.8 percent. That's more than five points higher than the overall jobless rate at the height of the Depression.
It's short. Read it!