What was the peak unemployment rate during the Great Depression?
The Bureau of Labor and Statistics has records of peak unemployment during the Great Depression to be around 25 percent. On paper there’s a lot more room to slide if our economy is heading towards “Great Depression” levels however the way they recorded their statistics back then varies quite a bit from today’s methods. In reality our current rate is a lot higher because it doesn’t take into account record underemployment levels which are basically people that have jobs but cannot find full-time work. To make things worse, analysts predict that we will continue to lose jobs and see the rates climb until at least the middle of 2010. What this means is that people are going to need how to consume less and find ways to cut back on expenses where they can. Everyone feels a pinch but not everybody feels it as hard, personally I have been trying to do little things to cut back like making coffee and meals at home instead of going out. In addition, I have held off certain trips that I would ha
