Noonan: Maybe Wall Street Was High on Xanax

But most remain upbeat about their future: Pew survey

(NEWSER) - The economy is doing a number on those aged 18 to 34, according to a new survey from the Pew Research Center :

• Half say they have taken a job they didn't want.
• More than a third have gone back to school because of the job market.
• Nearly a quarter have taken unpaid work to gain experience.
• About a quarter have moved back in with the folks.
• More than 1 in 5 have postponed having a baby, and about the same number have put off getting married.

Nate Silver sees bad things in long-term GDP graph

(NEWSER) - Need a pick-me-up given today's depressing stock news ? Then be advised that Nate Silver's column in the New York Times is not for you. The stats guru plots GDP going back to 1877 and sees signs that our recent "economic crash was even worse than economists had previously believed ... and that the recovery has been even more timid." GDP is currently about $13.3 trillion "when it 'should' be $15.7 trillion based on the long-term trend," writes Silver. More»

And the future is looking bleak, say economists

(NEWSER) - Layoffs have climbed to their highest level in nearly a year—1.78 million workers were handed pink slips in May, the most since August 2010—increasing ever-present fears about the US economy. The Wall Street Journal highlights the latest casualties: Cisco Systems plans to slash 6,500 jobs; Lockheed Martin this week made a voluntary lay-off offer to 6,500; Goldman Sachs is getting rid of 1,000 jobs; even Cracker Barrel cut 60 employees. More»

Social welfare benefits make up 35% of wages and salaries

(NEWSER) - More than a third of the total wages and salaries in the US is made up of government payouts, CNBC reports. Social welfare benefits including Social Security, Medicare, and unemployment insurance account for 35% of wages and salaries—a record figure that is up from 21% in 2000 and 10% in 1960, according to a research firm. That percentage is sure to increase if nothing changes before the rest of the Baby Boomers retire. More»

Patients may face side effects without benefits: researchers

(NEWSER) - More than a quarter of Americans on antidepressants haven’t been diagnosed with depression, anxiety order, or any other condition that the drugs are intended to treat, a study finds. That means millions could face side effects without getting the drugs’ benefits, a researcher tells Reuters . In surveys of more than 20,000 people between 2001 and 2003, one in 10 people said they were on the medications, yet 26% of them hadn't been diagnosed. More»