There are 13.9 million unemployed people in the U.S. – and that just counts those looking for work.
That works out to 9.1% of the labor force, the widely publicized unemployed rate.
But here are a few more ways to look at it:
- There are more unemployed people in the U.S. than there are people in the state of Illinois, the fifth largest state.
- In fact there, there are more unemployed people in the U.S. than there are people in 46 of the 50 states, all but Florida, New York, Texas and California.
- There are more unemployed than the combined populations of Wyoming, Rhode Island, Idaho, North Dakota, Alaska, South Dakota, Delaware, Montana, Hawaii, Maine, Vermont, New Hampshire, and the District of Columbia.
- If they were a country, the 13.9 million unemployed Americans would be the 68th largest country in the world.
Why is this significant? Because if the big brother sneezes, the whole world catches cold.
There are sign of recession and depression evident in the recent stock market plunge. It is not too early for me to tell that the world is headed to another recession. So, I suggest we all be stronger than we ever were. Few economists are predicting the combination of recession and depression.
The best strategy that I see is to save as much money for the rainy day. Hold onto your jobs and perform well wherever you are. The good days will certainly return. The one who holds his ground will be successful.