Unemployment Worse than You Think

The publisher of U.S. News & World Report, Mort Zuckerman, has written a very comprehensive look at just how bad underemployment and unemployment now are in the U.S. Much of what he says we already know: unemployment is high, many people have dropped out of the job market, many more are underemployed.

One indicator of which I was not aware is that there is nobody on strike in the U.S. In all of last year there were only eleven work stoppages - strikes. This is a clear signal that workers feel very insecure.