In the following ABC news article, it is stated that despite an additional 103,000 jobs that were created last month (September), the American economy still remains “sluggish”.

Official statistics place unemployment at about 9 or so percent. However, dig a little deeper here and do a little research there and one will find that unemployment might just perhaps be around the twenty percent marker.

Right now people are taking to the streets all over the world to protest the actions of the financial world in recent times which have left folks with nothing but a handful of change and a sandwich-board sign brandishing some type of anti-Capitalist statement.

Are we witnessing the perfect economic storm which might lead to a second great depression? If current unemployment trends such as what are mentioned in the article below persist, then the answer to that question is a resounding yes.

Grant J. Kidney

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The nation’s long jobs drought continued in September, with unemployment staying at 9.1 percent as the economy added 103,000 non-farm jobs, the Labor Department announced Friday.

Unemployment has remained sluggish all year after declining from a high of 10.1 percent in October 2009. While there was improvement during 2010, it has flatlined this year, according to Steven Leslie, lead analyst for financial services at the Economist Intelligence Unit.

“The rate has remained at around 9 percent for quite some time. The rate of job creation has been especially weak in this quarter,” Leslie said who had hoped Friday’s announcement would boost the quarter.

The stock market opened up after the jobs announcement. The Dow Jones industrial average increased about 1.7 percent to 11,123.

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Source: ABC News