Never mind this, we’re turning the corner!
Layoffs in the United States occurred at the second-fastest rate on record during the first three years of the Bush administration, a government report has found.
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In the latest survey of how frequently workers are permanently dismissed from their jobs, the layoff rate reached 8.7 percent of all adult jobholders, or 11.4 million men and women age 20 or older. That is nearly equal to the 9 percent rate for the 1981-83 period, which included the steepest contraction in the American economy since the Depression.
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In the latest survey, 56.9 percent of those who said they had been re-employed also said they were earning less in their new jobs than in their old ones. That compared with 46.6 percent in 1991-93, a similar period of recession followed by weak recovery, and 42.2 percent in 1997-99, a boom period.
Now, if we can only get rid of the “death tax” in 2011, all our economic problems will be over.