Ready for ugly?
Unemployment has reached 7.6 percent, up from 4.9 percent one year ago.
Ignore this statistic. It counts only those actively looking for work — not a particularly useful metric. More interesting is the employment level, down 4,218,000 adult Americans in the last year.
It’s interesting if you’re among the unemployed, less because misery loves company than because who needs this much competition?
And it’s interesting if you’re a CIO, because with this many people out of work, there have to be opportunities to hire great people.
Hire? In this economy? I’m kidding you, right?