26 year high in Unemployment

[bassin_bug]

I'm not one to sound doom and gloom but I'm thinking we may see 11% and 12% before it's all over...and I also think we're going to struggle for a long period of time to keep unemployment under 10%...perhaps into the summer of 2010 (or longer). I'm in construction and friends let me tell you, it is very bleak at best.

My .02 worth.

P.S. (I hope I'm wrong!)

You are not wrong! My husband is affiliated with one of the world's largest construction companies (he's a Sr HSE Specialist). He goes in early on Monday's because he has a meeting to attend first thing. He was unusually quiet this morning at breakfast and didn't seem to be very hungry. A wife knows when something is bothering their soul mate. I said, "Gee, Hon, you sure seem to be doing some serious thinking this morning." He looked across at me and said, "This is the kind of morning I hate to face because I will get the list of people who are to be laid off this week; 500 will be laid off by the last of August. I know them and most of them are people who have worked their butts off. They are going to suffer if they can't find another job real soon."

He was on the computer for hours yesterday afternoon; this morning when I came in and awoke the computer he had forgotten to log off, the last page he looked at popped up and I found out what he did yesterday. He had been online looking at the list of company jobs that are available, throughout the United States, searching for something that would help the people who will be laid off. Most of the jobs were located overseas and some were in the Power sector in Texas. We will pray for them every day because we know that things will be tough for them. Innocent victims of a screwed up government.