In the News (from huffingtonpost.com): “Approximately 48 percent of Americans say they think that a Great Depression is either very or somewhat likely to occur within the year according to a CNN Opinion Research Poll, the highest percentage of respondents that have stated that level of certainty since CNN first started asking the question in October 2008. Respondents’ fear that they would soon become unemployed also spiked to an all-time high of 30 percent….”
“‘That’s not just economic pessimism,’ CNN polling director Keating Holling told CNN, reflecting on the polling results, ‘that’s economic fatalism.'”
The nation’s overall unemployment rate sits at 8.8 percent and the rate among white Americans is at 7.9 percent. 15.5 percent of African Americans are out of work and still looking for a job.
During the global recession (1929-1939), later called the Great Depression, the highest level of unemployment rose to 23.6% in the USA.