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Overnight Open Thread

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SixDegrees1/03/2010 7:40:33 am PST

re: #166 MandyManners

Aren’t those temporary jobs?

Yes. I doubt there will be enough of them, either, to significantly impact the unemployment rate in an environment that continues to hemorrhage jobs on the order of tens of thousands per week.

What will happen, though, is that there will simply be no one left to lay off, and the unemployed either give up or accept significantly lower paying jobs as their benefits expire. Which will at least halt the downward trend. This may, in fact, already be happening.

In Detroit, with unemployment over 30% in the city, there’s not much place to go but sideways or even up.