Thursday, November 20, 2008
Employment Situation Worsening
The chart (courtesy of Calculated Risk) of continuing claims says it all. The administration is still trying to massage these numbers, attempting to carve out those who are on extended continuing benefits . . . but even so, we're now over 4 million.
I expect jobless figures to significantly worsen.
We absolutely need a major infrastructure spending package from the federal government. It might not happen until President Obama is sworn in, but it must happen, and it will.
I expect to see significant transit infrastructure spending included. We need it, it will create jobs, and set the conditions for future economic growth. IN a related matter, I'm working on a statement on the rumored MTA cutbacks. Short version: the worst possible move they could make at this point would be to cut service.