The Economy is Even Worse Then You Think

The Bureau of Labor Statistics preliminary estimate for job losses for June is 467,000 which means 7.2 million people have lost their jobs since the start of the recession. The cumulative job losses over the last six months have been greater than for any other half year period since World War II, including the military demobilization after the war. The job losses are also equal to the net job gains over the previous nine years, making this the only recession since hte Great Depression to wipe out all job growth from the previous expansion.