In 2007, average employment among the nations of the Organization for Economic Cooperation and Development was at its lowest level since 1980; in July 2009, OECD unemployment reached its highest level since World War II at 8.5%. (Florida of course is enjoying an unemployment rate of more than 11%.) But the Federal Deposit Insurance Corporation is doing its part for hiring.
In addition to giving itself a 35% budget raise for 2010, the FDIC is nearly doubling its staff from its employment level in 2006. With more than the 130 banks which failed in 2009, there is plenty of fallout to go beyond the bailout in 2010, and 1600 new staffers will be there to handle the crisis.
While the FDIC employee number should rise to about 8,600 this year, that number pales in comparison to the 20,000 employees working during the savings and loan crisis of the 1980’s and ‘90’s in which 747 savings and loan associations failed. The current bank failure crisis is going to have to become more critical before the FDIC can contribute employment positions at the S&L level.
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