, , , , ,

Remember this, from February?:

Just saw Krugman’s comments on reduction in recov act. Question for him. Would no stimulus act be better than one thats 800 B instead of 900

Paul Krugman:

…What happened was a, a lack of conviction, a lack of, you know, if you’re gonna do something like this you’re gonna have a stimulus program you gotta go and do it…This is the kind of situation where you’re trying to build a bridge across an economic chasm. If you build half a bridge it doesn’t work. You have to do the real thing…

This morning, from the Bureau of Labor Statistics:


Nonfarm payroll employment continued to decline in September (-263,000), and the unemployment rate (9.8 percent) continued to trend up, the U.S. Bureau of Labor Statistics reported today….

And U-6?:

Table A-12. Alternative measures of labor underutilization (Percent)

U-6 Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers (Seasonaly adjusted)

Sept 2009 17.0

[emphasis added]

That’s one in six.

Take a look at this comparison of the percentages of job loss from peak employment.

Now what?