The Summer of Our Uncertainty...
Gas prices in my 'hood are now at $2.75 $2.89 a gallon, up nearly a dollar since a few weeks ago (and up 14 cents since yesterday morning.) The ADP National Employment Report provides no solace. More than 532,000 people lost their jobs in May - more than some analysts expected; less than what others had anticipated. Still, more than a half a million more people were shed from productive employment last month. Small businesses - the ones not big enough to qualify for a bailout - have been hit hard by the economic downturn, according to the ADP report: "Since reaching peak employment in January 2008, small-size businesses have shed 2,125,000 jobs." Unemployment is likely to rise to 9.2 percent for May. From this point in early June, summer looks to be long and hot, especially for those with no income coming in. Let's hope the stimulus kicks in with a breeze that cools down the unemployment figures. Here's the ADP summary of their report: "...