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There is 300 million people in the US. That counting stay at home moms, children, retired people, and babies. There is not 300 million people in the work force. The labor force is around 155 million including unemployed people. Edit it to add there were around 15 million unemployed during the depression but it doesnt matter because the numbers are all relative. And if you reverse the numbers there are still way more people employed today then there were back then. And to looking for some good news I found this.
Originally posted by David9176
reply to post by tjeffersonsghost
Let's say the national unemployment is 17 percent.
If the population of the US is 300 million...
That comes out to 51 million people unemployed. If this is even remotely true it's quite startling to imagine.
That's a lot of people.
In 1930, around the great depression, the population was 123,000,000. The highest from what i can find was 25 percent although it could have been higher. I'm just using this estimate for the sake of comparison.
That equals 30,750,000 people unemployed.
Unemployment Rate The faster we bottom out the better. Once we start seeing the number reverse or even bottom out maybe we can get some confidence back and we might see things start to turn around.
Yet some economists said the report showed the brutal pace of job losses may have peaked as companies retrench and cut as much as possible.
"That scene wasn't as bloody as expected," said Jennifer Lee at BMO Capital Markets.
Some analysts had expected a far worse figure after a survey by payrolls firm ADP showing the private sector lost 693,000 jobs in December.
"The report is obviously terrible," said Cary Leahey, senior economist at Decision Economics.
"The only silver lining is that the pace of job declines is so severe that the market may conclude that the pace of adjustment will slow in the first quarter," he said.
Originally posted by crw2006
Dont forget about the ratail sector. The shoe hasnt dropped on that yet. My wife works for a major dept store in a big mall, they just layed off a bunch of people last night and now have cut the store hours. Instead of closing at 10 they close at 8 now! There's going to be a boat load of retail stores closing the next year.