Friday, June 5, 2009

Happy Days Are Not Here Again

Here is a report from the New York Times on-line this morning. It is not "Happy Days Are Here Again" or "Put On A Happy Face" but rather a glum indication of where we are today and how slowly the recovery will actually be even though we are doing our best to bail out the world. As someone who is theoretically retired my heart goes out to all of you who do not have a job today and probably not tomorrow either. Hang in there as things will get better later.

"345,000 U.S. Jobs Lost in May; Unemployment Rate Jumps to 9.4%
The economy shed 345,000 jobs in May, a sharp reduction in
the pace of job losses, the government reported on Friday in
its monthly employment report.

The unemployment rate climbed to 9.4 percent, its highest
point in a quarter-century, and economists said the job
losses were likely to pile up through the rest of the year.
But the letup in the pace of losses fanned hopes that the
plummeting job market was showing sustained signs of

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