The national unemployment rate went to 8.1 percent
last month as 651,000 jobs were lost. The losses are attributable not only to collapsing Wall Street giants, but also to corner-cutting by "healthy" companies like IBM
, who in January announced a strong 4th quarter and said that "most importantly, we will invest in our people" before cutting 1,400 employees in February. Conservatives, naturally, blame the six-week-old presidency of Barack Obama, and some suggest the President is deliberately sabotaging the economy
to effect his radical socialist agenda.
The employment figures are especially grim news for the thousands of people who waited in line over an hour yesterday to attend a job fair in New York, but WHEC-TV says don't despair, there are still jobs in Rochester for "EMTs, paramedics, dispatchers and other communications staff." And Wal-Mart is doing fine, so when the shit hits New York can always cave in and let them put one on every corner, like Starbucks, so we can all find employment as greeters.