Joblessness has been worse

Our government responded to the collapse of the economy by giving huge amounts of money to the financial system. A second bailout, just passed, focused on creation of jobs. Tax cuts are included, though not yet defined to the public. Another bailout of the banking system seems likely.

The Bureau of Labor Statistics’ data indicate unemployment for January 2009 at 7.6 percent. That number becomes meaningful when compared with data from prior eras.

Unemployment rates from 2001 through 2007: 4.7 percent lowest to 5.8 percent highest.

From 1991 through 2000: 4.0 percent lowest to 6.9 percent highest.

From 1981 through 1990: 5.3 percent lowest to 9.7 percent highest.

From 1971 through 1980: 4.9 percent lowest to 8.5 percent highest.

A review of BLS data shows the present unemployment percentage to be lower than that in two of the past three decades. That doesn’t mean we should not be concerned about the recent loss of jobs. However, it raises questions over the pell-mell actions of our president and Congress in passing a stimulus package of more than 1,000 pages that no one had read in its entirety. This is not the worst of times.

Bob Launhardt

Pinehurst, Idaho