The jobless recovery is a reality - this scene of people standing in line for unemployment benefits is bound to repeat.
July 4, 2010 – This morning on This Week on ABC one of the big topics was the “Jobless Recovery.” Finally the media is acknowledging that any recovery that may exist (I dispute that we are in recovery) is a jobless recovery. There was the temporary jump in new jobs in April which turned out to be the census takers and of course those jobs did not last. The show also acknowledged that there will be a double dip recession. I think either we are already in the second dip or it is coming very soon.
I have been saying for quite some time that any recovery will be a jobless recovery. I feel vindicated. The lesson to learn from this is that the powers at be do not care about us will lie to make themselves look good until we do not buy their statements anymore. If you think you will find a new job soon think twice. This may be a good time to file bankruptcy when your means test 6 month income will be at the lowest as someone who is unemployed. Also do not expect a new job soon or if you are lucky enough to get a new job it will probably pay less and be without benefits. Chapter 13 is also available as a good way to save your house from foreclosure and save cars from repossession.
