Unemployment Rate Worse Than Expected

The unemployment rate in the U.S. has reached a 25 year high according to the Voice of America:

The White House says America’s employment picture is worse than the Obama administration had anticipated just a few months ago. The somber admission follows the latest jobless report showing the highest unemployment rate the United States has seen in more than 25 years.

In response, “President Obama today will promise to deliver more than 600,000 new jobs this summer with accelerated spending of some of the $787-billion economic stimulus that Congress approved at his urging earlier this year.”

A lot of folks keep hoping for the light at the end of the tunnel with this recession, including myself. Evidently we can just keep on waiting. The light isn’t in sight yet.

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