Academic

GUARDIAN: Jobless millions signal death of the American dream for many. ?The headline jobless figu?

By Glenn Reynolds

GUARDIAN: Jobless millions signal death of the American dream for many. “The headline jobless figure of 9.5% is bad enough but does not begin to convey the problem as it fails to measure those who have stopped looking for work. Over the past three months alone more than a million Americans have fallen into that category: effectively giving up hope of finding a job and dropping out of the official statistics. Such cases now number some 5.9 million and their ranks are likely to grow as millions more find their jobless status becoming a permanent state of hopelessness. . . . America appears to be a society splitting down the centre, shattering the middle class that long formed the cultural bedrock of the country and dividing it into a country of haves and have-nots.” Hope and change!

Full post as published by Instapundit.com on August 15, 2010 (boomark / email).