Sunday, January 25, 2009
In 1930, there were 123 million Americans.
Will unemployment reach 25% during this current crisis?
I don't know. But the number of people unemployed will be higher than during the Depression.
Specifically, there are currently some 300 million Americans, 154.4 million of whom are in the work force.
Unemployment is expected to exceed 10% by many economists, and Obama "has warned that the unemployment rate will explode to at least 10% in 2009".
10 percent of 154 million is 15 million people out of work - more than during the Great Depression.