Looking Up - Giving Thanks

J. Walker Smith

Following Thanksgiving 2008, J Walker Smith assesses the unemployment figures and continuing economic downturn.

Looking Up - Giving thanks

The Yankelovich Economic Edge POV J. Walker Smith

Thursday, November 20, was a bad day. In many ways, it was perhaps the worst day since the economic free fall began in September. But who knows—perhaps it was the start of a turnaround, too, for which we can be thankful.

That morning, the Department of Labor reported that first-time claims for unemployment insurance for the week ending November 15 numbered 542,000, the highest level since 1992. However, this widely published comparison is an understatement because the numbers from that one week...

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