"We are now in the early stages of a depression"

Unemployment Catastrophe:
· The June 2009 jobless rate reached 9.5%, the highest since 1983.
· 4 million Americans have been looking for work for more than 26 weeks, representing 29% of the unemployed – the most since records began in 1948.
· During the last 30 years, Americans who lost their jobs took an average 15.8 weeks to find new positions. In June 2009, the average duration of unemployment was 24.5 weeks, the longest since records began in 1948.
· The number of people collecting unemployment benefits reached a record 6.88 million in the week ended June 27, 2009.
· Approximately six people are seeking work for every job opening, the most since the government began keeping such records…

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