Recent reports are indicative of an economy barreling towards another recession.
Wisconsin and now Iowa Business owners become more pessimistic and show a decrease in planned hires and an increase in planned firings. Gallup confirms this is a nationwide trend. The monthly Manufacturing report shows lows that haven't been seen in over three years.
Gallup now finds that unemployment, underemployment and employees working part time that want full time work have all shown sharp increases.
Charts below: (Click to enlarge)
Unemployment:
Underemployment:
Part Time Employees That Want Full Time Work:
Welcome to The Obama Recession.
Layoff Mania pieces here.
Obama Economy pieces here.