It must be cold comfort to the 14.5 million unemployed Americans to hear that unemployment is a “lagging indicator” and that the job market should pick up sometime after the economy picks up. Especially when the signals for the economy itself are still mixed. The most frightening news is that there are currently six unemployed job seekers for every vacant position out there. And even that’s counting only the “officially” unemployed and not the underemployed or the jobless people who’ve given up looking. The NYT has the story here.
The Kinks have the cautionary don’t-quit-your-old-job-until-you’ve-found-a-new-one tale here: