With the release of the jobs report on Friday, the broadest measure of unemployment and underemployment tracked by the Labor Department has reached its highest level in decades. If statistics went back so far, the measure would almost certainly be at its highest level since the Great Depression.Hell of a time to graduate from college. South Africa is feeling the bite too, but as most people in my village didn't have jobs to start with, it's not making a huge difference.
In all, more than one out of every six workers — 17.5 percent — were unemployed or underemployed in October. The previous recorded high was 17.1 percent, in December 1982.
Nov 7, 2009
I do miss home, but in some ways I'm glad I'm not back there: