Depression Economics: When The Jobless Run Out Of Unemployment Insurance
If 2008 was the year of the financial crisis, and 2009 the year of the recession, then 2010 was the year of unemployment. The good news is that things are starting to look up, if modestly. The number of workers making initial unemployment claims--a good indicator of where the unemployment rate is heading--fell to its lowest level since July 2008 this week. Employers have started filling more available positions. And economists expect December's unemployment rate, to be released next week, to be lower than last month's.