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Unemployment Rate Jumps to 8.5 Percent, 663K Jobs Lost in March
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Unemployment rate up from 8.1% to 8.5% , with 663,000 jobs lost in March, 2009, according to the Labor Department. The number of unemployed hits 13.2 million. Labor Dept data shows that between 423,000 to 9 million people were forced to work parttime for "economic reasons."
The size of the debacle in the global financial crisis of 2008- 663,000 U.S. jobs lost in March 2009, according to the Labor Department
04/03/2009
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Failure to stem foreclosures under the Obama administration continues inaction under Bush administration.
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The failure of the Obama administration to break the cycle of foreclosures begetting falling house prices begetting more foreclosures, further weakening the banks and the economy, with strong action. It continues the missteps of the Bush period and may undo much of the good work in other areas such as stimulus, restructuring the auto industry and new priorities. Inaction here is coupled with inaction in relation to insolvent banks and is likely to prove costly.
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Foreclosures in 2008 hit 16% up from 6% in 2007, and in an accelerating trend if unemployment hits new highs.
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A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
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The Case Against the Bernanke-Obama Financial Rescue
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