It's not exactly a closely guarded secret that unemployment has been a problem, is a problem, and appears to take two ticks down for every tick up.
While the unemployment problem has been discussed on these boards with frequency, the video map on the other side of the fold summarizes a thousand words.
The following map is going to trace unemployment on a monthly basis from January 2007 through March 2010. The video plays through in about 30 seconds, and there is no sound so you can put down the headphones.
This map presents a sight only for the strong of heart. Be warned.
Unemployment has spread across the land like a scourge. The dark horse of unemployment carries its message of sudden impoverishment across the nation like a strong wind.
It is noted downthread that unemployment has ameliorated since the end of March. Let's pray that the up trend continues.
But I fear the uptick cannot hold. As the Gulf disaster continues to unfold at least into August, spewing forth raw oil into the open sea, the economy of the littoral states must necessarily continue to deteriorate.
The waves of oil are simply rippling tentacles, strangling the economy of the Gulf states. The best we can hope for in the short run is decent weather allowing the rogue well to be more quickly plugged.
Even after the flow of oil is staunched, however, jobs will continue to be shed as people avoid the Gulf, waiting for the waste to be cleaned. Thousands of jobs have been, are, and will continue to be lost, many perhaps forever, in places near the shoreline of the most unfortunate Gulf states.
The rest of America is also experiencing the exponential effects of unemployment. As the tax base continues to be deleteriously affected by employment dislocations, is it any wonder that statehouses and cities across the nation are wondering how to pay the bills? Even the prairie states are beginning to feel the pain.
I think three things are becoming abundantly clear:
- The 2009 stimulus package just wasn't big enough.
- Another stimulus package is going to be needed. One that emphasizes job, jobs, jobs.
- We need to overhaul the tax system and start freezing taxes on earned income and dramatically increase taxes on passive income (yea, right).
I sure hope Obama reconsiders the Axelrod/Rahm advice to deal with the deficit now. Folks are out of work and hurting.
We've got elections coming up and I just don't see any upside to testing the lessons of 1937 at this particular point in time.
We do have a very intelligent President. Hopefully Obama will find the wisdom to make the right choice as the Fall elections swiftly approach.