The lay-offs are slowing, but jobs are being lost at a still rapid pace.
YAHOO – The unemployment rate jumped almost half a point to 9.7 percent in August, the highest since 1983. While the jobless rate rose more than expected, the economy shed a net total of 216,000 jobs.
HUFFINGTON POST – By a broader measure that includes forced part-timers and people who’d like to work but aren’t looking, the national unemployment rate reached 16.8 percent — up a staggering 6 percent from this time last year.
Where are the “shovel ready” jobs?
We spent how many billions on bailing out the banks, the auto industry, and the “Stimulus” bill?
The only “Stimulus” I’ve seen is a two week temporary employment job filling out paperwork for the “Cash for Clunkers” program.
Lies, lies, and more lies, let’s vote for lies!!
YAAAAAA!!!!!
With many shovel ready jobs stopped by neocons in the federal and state governments AND with no real plan to help the nation out like it needs (see Keynesian Economics and our prior example of how to do this under FDR) it’s time to call this what, under any other measure it has been for quite some time: a depression.
#2, I guess you are talking about the same republican party that “appointed” Ben Bernanke? The same guy the current president just “appointed” for the helluva job he’s doing?
Please, they are one and the same and beholden to the Fed.
This is all Bush’s fault.
We should vote him out of office and get someone else.
Imagine for a moment you are flying in a plane. The pilot does one stupid thing after another and puts the airplane in straight down freefall.
So the passengers of the plane forcibly remove the pilot, and another person takes the controls and starts to pull up the plane.
Does the airplane suddenly turn around and start going straight up in no time whatsoever? No, it keeps on diving for a while, slowly coming back to horizontal flight and then starting to climb back up as control is regained.
The previous administration put our economy in a freefall vertical dive.
The current administration is still trying to pull us out of the vertical dive…. we are still heading downwards, but the dive is becoming shallower.
If the previous administration were still in power right now… the first class passengers would already have jumped out in their golden parachutes, the cockpit would be empty and the wings would already have been ripped off.
#5,
Also, you have to add in, that 1/4 of the plane became terrorist suicide bombers after the rational majority removed the old pilot, and are now trying to hijack the plane and fly it into the statue of liberty.
#6 Postman,
If this were utterly realistic, that 25% is in the back of the plane, having “teaparties” and handing the few available parachutes to the people in first class (which laugh as they jump) while not asking for any parachutes themselves.
All along they are screaming that we are wasting fuel by adding power to pull out of the dive, and not realizing that they have no health insurance because the plane was already falling out of the sky before it hit the ground, hence any injuries if they get hurt are not covered due to a pre-existing condition.
“we are still heading downwards, but the dive is becoming shallower.”
Humm. Ok, Awake. I’ve got an open mind. Show me with credible, non-biased links where the “dive becoming shallower” is due to anything Obama/Pelosi/Democrats did since the last election.
Hey, I’m a givin’ kinda guy. I’ll help you Awake, to awake!
“The construction industry lost 65,000 jobs, which caused some economists to note that the Obama administration’s $787 billion stimulus package hasn’t yet stemmed layoffs in that industry.
“It doesn’t look like a whole lot of those ‘shovel ready’ projects have been started,” Joel Naroff, president of Naroff Economic Advisors, wrote in a note to clients.
Factories cut 63,000 jobs, while retailers pared 9,600 positions. The financial sector eliminated 28,000 jobs, while professional and business services dropped 22,000. Even the government lost 18,000 jobs, as the U.S. Postal Service cut 8,500 positions, and state and local governments laid off teachers and other school workers.
Health care and educational services was the only bright spot, adding 52,000 workers.”
“Some economists credit the stimulus package of tax cuts and spending increases, along with the Cash for Clunkers program, with contributing to a recovery. But they worry about what will happen when the impact of the stimulus efforts fades next year.”
http://tinyurl.com/l6o3mf
And PLEASE don’t make me laugh over the Government “jobs saved”! That has been proven to be fiction a long time ago.
Need more awakening, Awake?
“Few economists think that can provide the basis for a sustainable recovery. Gault forecasts the economy will grow at a 3.7 percent clip in the current July-September quarter, but expects that to fall to 2.4 percent by the fourth quarter and 2 percent in the first quarter next year. … expect the unemployment rate to top 10 percent by the end of this year.”
So while we are paying for the “Stimulus” we are not seeing any significant benefit from the “Stimulus”.
You might have to open your narrow mind and entertain the thought that maybe the “Stimulus” has done a lot more damage than good.
This “Stimulus” is more like a good Hooker. A lot of excitement at first, but a trip to the doctor and a big bill to pay later.
I have a solution.
for those companies that have shipped over 50% of jobs to other nations, LETS SHIP the REST of the corp with it..
since its CHEAPER labor in the other country, and PRICES on GOODS are cheaper, LET THEM LIVE is a cheaper nation..MAYBE they will get the HINT, that MAKING the USA POOR isnt what they want.
They can live like Kings in another nation ALOT cheaper/with less money, THEN they can in the USA. Whats also encouraging is the LAWS in those other nations. Let them LIVE with those LAWS also.
Nice sentiment, ECA, but it won’t work.
It’s not the workers, but the buyers of their product that is the issue.
Say a company ships all it’s American jobs overseas. By any reason this would make the product less expensive to produce, which would result in a GREATER profit once this product is sold in the US.
The greater profit then provides bigger bonuses…
So once again, it’s the consumer that bears much of the blame.
#9 – Ah_Yea
The truth in one sentence:
The pace of job cuts has steadily slowed since the beginning of the year, when monthly losses exceeded 700,000 in January.
So the worse increase in unemployment is immediately before Obama assumed power.
The top chart on this page should illustrate it quite well:
tradingeconomics.com/Economics/Unemployment-Rate.aspx?Symbol=USD
The economy was placed in a freefall by the previous administration… the dive is starting to get shallower, but it will take a long time to level off or even start to recover. Never forget that the whole financial system of the USA was within 72 hrs of complete collapse in Nov 2008. We may be spending way too much, but at least the financial backbone of this country has become stable.
OK to continue the silly airplane analogy. Obama told us where the mean old Bush/Cheney airplane was going to dive, then showed where his airplane would dive, when he employed his super human big government spending plan. The only problem is that when the numbers came in, they were worse than even the projected evil Bush and Chimp regime. See Obama’s Projected Unemployment Rate with and Without Recovery Plan graph for yourself.
The thing is that these big government leftist ideas look good in academia and sound good in media, it’s just that they NEVER work. This is something the American public has to relearn every couple of generations.
An example of the Messiah’s wonderful stimulus package is a building near my office slated to get $2.6M in “green” upgrades next year but is also scheduled for demolition in about 7 years.
#14,
To continue the stupid analogy, your entire theory is blown out of the sky by Bush’s failure to bail out Lehman Brothers which triggered the over night interest rate crisis, and the subsequent deflationary spiral, and permanently ended retarded republican ideals of the government having no place in the financial markets.
LOL, your ideas are as stupid as some person saying in early September 2002 that 9/11 never happened and everyone had simply misunderstood what happened that day, and the media was exaggerating it anyhow.
Gawd, I can believe how fucking stupid republicans are.
Um, as a pilot, this analogy is bogus.
Planes come out of a dive on their own. You have to hold the controls forward to keep it in a dive. Hollywood be damned.
Speed = Lift.
Now, if you want to change it to a stall-spin, it would make more sense.
I was expecting the magic negro to halt the economic melt down and cut unemployment in 6 months. That dirty bastard.
Well they have Marxist Van Jones in charge of green jobs, so it looks like Mission Accomplished.
As of 1PM today, ABC News, CBS News, NBC News, New York Times, and Washington Post produced no stories on the Van Jones being a 9/11 Truther controversy. Anyone still think it’s a fair and balanced media?
“People who’d like to work but aren’t looking”
I love it, I imagine these people who sit around thinking “I’d like to work” but don’t get off the couch and actually look for a job.
Awake, interesting post and completely useless.
First, the question I posed in #8 was “Show me .. where the “dive becoming shallower” is due to anything Obama/Pelosi/Democrats did since the last election.”
You didn’t do that.
Now you make further wrong assertions.
1) “The economy was placed in a freefall by the previous administration”. Prove it. Prove also that the Majority Democratic Congress wasn’t at least as responsible for what damage did occur.
2) “the dive is starting to get shallower”. Prove this has anything to do with the stimulus package. I already showed your it doesn’t. In fact the recession may well be extended because of the “Stimulus” package.
3) “the whole financial system of the USA was within 72 hrs of complete collapse”. That was already proven to be a complete partisan lie used to excite the weak minded into becoming better sheep.
#18,
I never did. I don’t want a fair and balanced media. I want a media that shoots for honesty and leaves the truth for philosophers and God.
Also, look at the opinion surveys on 9/11, and Bushs role in it. Her moderated opinion which is not dissimilar to mine, that Bush let one through (LIHOP) is consistent with the results of the 9/11 commission and the majority of Americans. I didn’t realize how mainstream LIHOP was, and as it turns out, people who belive as you do, are only a little more pominent than the troofers.
Considering that reality, I’d say the media has done their job. So suck on it. You are a villan and most of america thinks you are a bad guy. My views are now mainstream, and yours are a deep minority.
#20,
You are entirely wrong. Overnight interest rates did in fact bust a buck. That is a stone cold FACT. That single fact destroys every other assertion that you make.
You are simply mistaken.
What?? I give sanguine analysis and you give “bust a buck”.
First, explain yourself. Then provide a link for further research.
Otherwise your comment means absolutely nothing.
#24,
Obviously you have not studied the details of what happened enough to have the first clue what you are talking about. I absolutly refust to do some retards homework for them.
How about you go out and find out what “busting a buck” means, then come back and explain how that stone cold FACT, does not disqualify every thing you said, then I am willing to discuss it with you, but not a moment before then.
I think I’m going to start a business making squirrel homes out of flower baskets.
12.
BUT you have nailed it on the HEAD..
Products SHOULD be cheaper, but they ARNT.
ALL it did was increase Profits, and upper management wages. NOT even the stock holders got a share of it.
And this has been going on for about 20+ years.
Some Economist said ” a 3% increase on our economy is a good thing” WHAT WASNT SAID, was that WAGES wasnt included, the price of GOODS wasnt included.. WHAT went up was EVERYTHING EXCEPT lower end wages. So, what happened. THE 60% that dont make $100,000 per year, COULDNT BUY ANYTHING. And over 1/2 of that 60% couldnt even afford RENT. And they used CREDIT to cover.
So what has happened. companies send to other nations FOR THEIR labor.. NO tax is gained from these people. NO wages, no benefits, no JOBS can be gained from their spending.
MORE jobs end up over seas..
SEND the rest of the company OVER SEAS. In many countries the GOODS made for the USA are BANNED, or NOT SOLD in those nations. The company would rather sell in Europe and USA and canada where they can get $100 for a product and not 100,000 Baht. esp, when you pay employees in that nation about $500 baht per WEEK OR LESS.
Ah_Yeah –
If you don’t understand the term “Breaking the Buck” and are skeptical of how close the USA came to a financial meltdown that would have made the Great Depression look like a regular recession, please watch the “Meltdown” episode of Frontline.
pbs.org/wgbh/pages/frontline/meltdown/
As to me providing evidence that the economy was in a freefall and is starting to improve, although it is still going down, I repeat, the worst months of unemployment growth were were at the end of the previous administration, with a job loss number of 700,000 in January. That has been knocked down by over 2/3 to 216,000 this month… yes the total rate of unemployment has risen, but the rate that it has risen has dramatically decreased… what changed to provoke that sudden reversal in trends… the Democrats took over, with a strong leader that is showing over and over that he puts America and it’s people ahead of raw partisanship. Had we stayed with the same ‘lower taxes for the rich’ and nothing else program of the Republican administration… we would probably be looking at much greater month-to-month continued job losses.
Unemployed. Have applied to 2 jobs this week, several in the last 3 months. No calls back. Have applied to everything from corporate to Red Lobster.
I Was making 90K 4 years ago. Savings now gone. Can’t collect unemployment since I “owned” my own business, which went under before summer. My corp clients have sent their web design over to India now. Small businesses that were giving me work are no longer able to afford marketing & IT. Only had 4 small business clients. 2 of them are at risk right now of shutting their doors before Xmas.
I rent and I don’t have the cash for rent next month. Internet and electric will be off in 2 weeks. Gods Pantry is feeding me this month. NOT looking forward to being on the street. Depression setting in deep.
Friends are in the same boat. Family lives outside of the country. Yes, I’m a citizen. 38 yrs old, been here since I was 9.
Lucky I have no kids and I’m not married. Then again, I could collect welfare if I did so I’ve been told. I have never collected unemployment or welfare in my life.
This is my America. This is the change I can believe in.
I do have my health though, and I am thankful for that. And a cool dog. Though I would have to say I’m proper-fucked at this point.
Whatever is going to happen better happen soon. I am the proverbial canary in the coal mine and I’m getting pissed off. Put me on the street and that ain’t gonna help. I may have to break some glass and steal a few MacbookPros.
Hey leftists, you need to get used to saying the term “jobless recovery”. As in “It’s ok Barak Obama will save us with a JOBLESS RECOVERY”.
Can you say it? Jooooooobbbbblllllllleeeeeeeeesssss Reeeeeccccccccoooooooovvvvvvvvveeeeeeeerrrryyyyyy. We won’t see good unemployment numbers until after Obama.
Your plans to manage the economy as totalitarians is totally bogus. Your hero Krugman got his “prize” on intra-industry trade, not monetary policy and you don’t even know the difference between the two. He admits it. We all are so screwed. Thankfully you will lose the White House for 12+ years after this even though you call us racist.
My advise to everyone else is to just do what you can to keep your productivity up and keep your jobs. Unless of course you are a trial lawyer, and then your payments to the lawyers Obama and Biden will reap huge rewards and like John Edwards you can start suing doctors etc. and get on with taking productivity out of the economy.
Your Messiah wants to crush Wall Street and Venture Capital. He calls them GREEDY. Guess what??? These are the very things that give you jobs. Enjoy the misery, I vote for hope for the change away from Obama. “I PLEDGE TO SERVE BARAK OBAMA.” Until of course I no longer have to.