6 Things We're Not Thankful For
There is a fair amount to be grateful for this holiday, but there are still some thorns in the side of investors.
On Friday, we took a look at some of the reasons investors have to be thankful this holiday, including the relative lull in the European sovereign debt crisis and the housing market recovery. But just like the fifth reheating of the turkey leftovers, there are plenty of things this season for which to be less than thankful.
The jobs picture is undoubtedly getting better in the United States. But it is still bad. The unemployment rate stands at 7.9% while the broadest measure of unemployment (the U-6 rate which includes, among other things, discouraged workers and those working part-time because they can't find full-time jobs) is 14.6%. Long-term unemployment remains a serious problem, as well. Five-million people have been looking for work for at least six months, a full 40.6% of the unemployed population. It's going to be a very long time before the economy will be able to regain the jobs lost during the downturn.