LayoffBlog.com

February 12, 2009

News from the past: Unemployment figures condemn New Deal.

Filed under: FYI,history,unemployment,US — 7macaw @ 7:25 pm
Tags: , , ,

From Pittsburgh Post-Gazette, 12th of February, 1936:

There are no definite and conclusive figures on unemployment. The various agencies collecting these reports seldom agree and it is possible that total of 11,401,000 [population was ~126 million back then – layoffblog] recently given out by William Green, president of the American Federation of Labor, may be somewhat high.

But what difference does it really make in viewing the broad aspects of the problem whether the correct figure is nine million or eleven million? Either figure presents a tragic situation, and the failure to make real headway against it proves that the present Administration lacks the practical business knowledge and experience required to cope successfully with this critical and distressing problem.

For three years, the Administration has had a free hand. It has experimented with one plan after another. It has wasted billions of dollars in senseless boondoggling. Yet relief and work relief figures are almost as high as they were at the start, and unemployment continues near the peak.

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