Job Gloom At All-Time High
NEW YORK (CNNMoney.com) -- More Americans than ever before feel they have no hope of finding a job.
A record 1.21 million people want to work, but said they aren't looking because of the weak labor market, according to federal statistics released Friday. The June figure is up from 793,000 a year ago.
The statistic is yet another sign of how bleak the employment picture is. And these folks, known as "discouraged workers," aren't even counted in the unemployment rate because they haven't looked for work in the past four weeks...
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