Prepare For Depression Level Unemployment

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Wednesday, December 03, 2008

Prepare For Depression Level Unemployment
by Michael Shedlock

Deflation has already set in and it's now realistic to start talking about another "D" word, this one being depression. Before we can use a word, we must define it. For the sake of argument, let's define depression as unemployment of 10% or greater.

Looking at alternative measures of unemployment (counting discouraged workers, those working part time for economic reasons, etc), we are already there at depression levels of unemployment as noted in table A-12 of the October Employment Report.

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