The nearly 15 million unemployed Americans won't enjoy Labor Day as a relaxing respite from work. . . .You know who loves him some gloom and doom? Instapundit:bank failures! construction loans in trouble! FDIC underfunded! "God help us"!
As the jobless rate nears 10 percent, even those fortunate enough to be employed fret about keeping their jobs. But for those without them, it's a daily struggle with emotional and economic distress.
"It's hard to maintain your focus that you're a valuable member of society when you go three months and nobody really wants to employ you," says David O'Bryan, 59, of Barre, Vt. . . .
The nation's jobless rate jumped to a 26-year high of 9.7 percent in August from 9.4 percent in July. It's expected to top 10 percent this year and keep climbing into part of next year before falling back. The post-World War II high was 10.8 percent at the end of 1982.
And it could take four years or more for the unemployment rate to fall back down to a normal level of about 5 percent. . . .
Ahhhh . . . The joy of misery!