| Unemployment 9.1% - July 2011 - 9.1% Auguts | |
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| Tweet Topic Started: Jul 8 2011, 07:39 AM (4,351 Views) | |
| LTC8K6 | Jul 8 2011, 01:54 PM Post #16 |
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Assistant to The Devil Himself
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We seem to have little to show for that stimulus money, too... |
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| LTC8K6 | Jul 8 2011, 02:34 PM Post #17 |
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Assistant to The Devil Himself
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http://www.politico.com/politico44/perm/0711/crystal_ball_c32aaf01-55f5-4a12-9eeb-b239eb55b956.html This administration is un-fricking-believable in their nerve... |
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| kbp | Jul 8 2011, 03:21 PM Post #18 |
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He's one of the BRILLIANT staff members running away to teach! |
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| Baldo | Jul 8 2011, 03:28 PM Post #19 |
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Unemployment Rises, Driven Up By Failed Government Policies Our 9.2 percent unemployment rate is much higher than the Obama administration predicted it would be if Congress had refused to pass his $800 billion stimulus package. It claimed unemployment would rise to 8 percent without a stimulus. It argued that Obama’s $800 billion stimulus package would deliver a short-run “jolt” that would quickly lift the economy, but unemployment rose very rapidly after its passage, and the stimulus has actually destroyed thousands of jobs in America’s export sector, and also used taxpayer money to encourage the outsourcing of American jobs to create “green jobs” overseas. New EPA rules will wipe out at least 800,00 jobs. And another 800,000 jobs will disappear due to Obamacare’s work disincentives. (The CBO noted in October that Obamacare contains disincentives to work that will shrink the labor force by hundreds of thousands of jobs.) http://www.openmarket.org/2011/07/08/unemployment-rises-driven-up-by-failed-government-policies/ |
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| kbp | Jul 8 2011, 03:34 PM Post #20 |
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Tax cuts are important??? LOL! Love how Bloomberg somehow had to include a 'blame Bush' comment in there! Read the article, the Democrats need to get a memo circulated among their staffs on how to RE-define "stimulus" now. Some evidently think is still means spending on infrastructure (which is GREEN in their minds). |
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| Baldo | Jul 8 2011, 03:43 PM Post #21 |
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IMHO we have been overstimulating the economy for a decade. Bush & Greenspan and now Obama & Bernanke. Edited by Baldo, Jul 8 2011, 03:43 PM.
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| Baldo | Jul 8 2011, 03:48 PM Post #22 |
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SANTELLI: 'The answer is easy: Spend less!' http://video.cnbc.com/gallery/?video=3000032061 If now when? Go Rick! He is great! Remember his rant started the Tea Party Movement! Edited by Baldo, Jul 8 2011, 03:50 PM.
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| LTC8K6 | Jul 8 2011, 05:27 PM Post #23 |
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Assistant to The Devil Himself
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Arrogant indifference... http://www.realclearpolitics.com/video/2011/07/08/whs_carney_most_people_do_not__analyze_gdp_and_unemployment_numbers.html WH's Carney: "Most People Do Not ... Analyze GDP And Unemployment Numbers" |
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| kbp | Jul 8 2011, 05:52 PM Post #24 |
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Those which manage companies and decide what investment or employment changes they'll make better have an idea where the market is headed. Those suffering from the market wonder what is going on too. |
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| LTC8K6 | Jul 9 2011, 12:03 AM Post #25 |
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Assistant to The Devil Himself
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http://www.powerlineblog.com/archives/2011/07/our-excuser-in-chief.php Our Excuser-In-Chief We haven’t yet said anything about today’s disastrous employment news. What is to be said? Unemployment is up to 9.2%, with underemployment much higher. A mere 18,000 jobs were added in June, less than one-fifth of what economists expected. Job growth in April and May was revised downward by 44,000. Another 272,000 Americans gave up and dropped out of the labor force. The news was unrelentingly bad. One wonders whether, when the history of this era is written, today might go down as a turning point. Americans have been steadily giving up on the Obama administration, as evidence accumulates that its policies have failed and it has no solutions to the nation’s economic problems. Not only that, its purported solutions–most of which are really just pretenses for government takeovers–have made the situation worse rather than better. If today was a turning point, it isn’t only because of the dismal news. Equally important was President Obama’s response to the awful numbers. Once again, after two and a half years in office, he can do nothing except make excuses, deflect blame, and try to turn bad news into political opportunity: Beset by a weak jobs report, President Barack Obama on Friday called for swift action by Congress to raise the nation’s borrowing limit, saying the uncertainty over the debt ceiling has hindered hiring in the private sector. This is a ridiculous claim. Many factors deter private hiring, some of them needlessly imposed by the administration–excessive regulation, Obamacare, harassment of businesses like Boeing on behalf of unions, and so on. The only issue with respect to the debt ceiling is whether the Democrats’ wild spending spree will be reined in. If so, that will, indeed, spur growth in the private sector. He also listed natural disasters, high gas prices, state and local budget cuts and the fiscal crisis in Greece. Most Americans realize that high gas prices are largely the result of the Democrats’ blocking the development of our own energy resources for the last 25 years. And not long ago, the idea that Greece could drag down America’s economy would have been laughable. That was before Barack Obama down-sized America. “The economic challenges we face weren’t created overnight and they’re not going to be solved overnight,” he said. Of course, no one ever asked Obama to solve the nation’s economic problems overnight; we just hoped he wouldn’t make them worse. That hope was in vain. It has become obvious to almost everyone, I think, that we have a failed president with nothing to offer but excuses. Edited by LTC8K6, Jul 9 2011, 12:04 AM.
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| Baldo | Jul 9 2011, 12:09 AM Post #26 |
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State and local governments bleeding jobs (Reuters) - U.S. state and local governments cut thousands of jobs in June, pushing their payrolls down to the lowest in five years, according to Labor Department data released on Friday, and analysts do not expect the losses to end any time soon. Local governments shed 18,000 jobs and state governments cut 7,000 in June. The level of local government employment -- 14.143 million employees -- is the lowest since June 2006. State government employment is the lowest since August 2006. "Today's employment report reflects continued belt-tightening at the state and local level and the trend we have previously noted, a trickle-down in budget cuts from the state to the local level," wrote Natalie Cohen, senior analyst at Wells Fargo Securities, in a research note. The National League of Cities, which represents civic officials, foresees further job cuts for at least the next 18 months. In a statement commenting on the Labor Department report, the group voiced concerns that continued public job losses will also dampen job growth in the private sector...snipped http://www.reuters.com/article/2011/07/08/us-usa-states-jobs-idUSTRE76768Q20110708 As was predicted here after the stimulus was passed and dished out to the states, who used it to pay wages instead of cutting like the private sector had to do. In California cities and counties are reeling from their overhead costs, especially in pensions & benefits. |
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| Baldo | Jul 9 2011, 12:12 AM Post #27 |
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That needs to be repeated and repeated again. Obama has made it worse. |
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| Baldo | Jul 9 2011, 07:30 AM Post #28 |
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Can jobs news get worse? Just wait and see If you are an American looking for work -- no, make that pleading to be allowed to earn a living -- you already know this: the job market is even worse than Washington is telling us. And Washington yesterday told us that the employment situation is just plain ugly. The Labor Department officially announced that only 18,000 jobs were created during the month of June compared to May's levels. That's considerably below the 157,000 jobs that payroll-processing firm ADP said on Thursday were added by companies in the private sector. Our economy is said to need at least 150,000 jobs a month just to keep up with people entering the workforce. So even job growth of 150,000 isn't good enough. Worse, not only are newcomers trying to find positions, but there are also 7.084 million fewer jobs in this economy than there were at the 2008 peak. So people who'd like to get their careers started are competing against millions of experienced job seekers looking to just get back into the game. Now for the really bad news: that 18,000 gain announced by the government yesterday isn't real. For one thing, the number of jobs increased in June only because the Labor Department simultaneously revised downward the number of jobs that existed in this country during May. It's like moving the fences at Citi Field so the Mets players can hit more home runs. It might make Jose Reyes feel better, but it doesn't actually make him more powerful. Without the fence-moving operation in the May employment report, the June number -- yesterday's number -- would have shown a decline of 26,000 jobs. Then there's another problem with June's employment report. Included in the 18,000 headline number is a guesstimate that 131,000 jobs were created by newly formed -- and, therefore, invisible -- companies. If you want to send your resume to one of these companies, don't bother. They probably don't exist, and neither do the jobs the government thinks they are creating. These figments of the imagination of the Labor Department's computers will probably disappear when the numbers are checked early next year. Look even deeper in the June report and you'll see something else you really don't want to know. The more broadly defined U-6 unemployment rate, which includes people who are underemployed, went from 15.8 percent in May to 16.2 percent in June. These are workers who want full-time jobs but can't find them. And the U-6 figure doesn't even include people who've given up looking for work because they believe it's hopeless. Since this entire column is filled with bad news, I may as well give it all to you at once: The job numbers are only going to get worse in the months ahead. For one thing, the government will stop adding jobs for those small, newly formed fictitious companies. That bit of optimistic statistical hocus-pocus has been lifting the job reports during all the spring months. The budget talks in Washington aren't going to help the job market either. If spending is reduced (as the Republicans want) jobs will be lost. If taxes are raised (as the Democrats are demanding) companies aren't going to be inclined to hire additional workers. I don't want to finish this column without giving you some good news, so here it is: You aren't crazy, the job market is truly bad, and it's not simply in your head....snipped http://www.nypost.com/p/news/business/can_jobs_news_get_worse_just_wait_kujJq1I8GMMrUtceqERkmJ The reality of yesterday's job report is sinking in. However it still is not the whole truth. There are hundreds of thousands who have given up looking for work. Also if you are young & out of college many of those jobs are not enough to pay back loans or even have health insurance. We have really socked it to the next generation. |
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| Baldo | Jul 9 2011, 10:49 AM Post #29 |
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April 02, 2010 President Obama on Job Numbers: 'We Are Turning the Corner' http://blogs.abcnews.com/politicalpunch/2010/04/president-obama-on-job-numbers-we-are-turning-the-corner.html ---------------- The reality July 8th 2011 Current Gallup unemployment graph based on their survey. ![]() http://www.gallup.com/poll/125639/Gallup-Daily-Workforce.aspx I sure don't see no corner there in April of 2010 nor June of 2011 1 out of every 5-7 Americans are on food stamps depending on the state. The Hope & Change Presidency, but it isn't his fault and he is ready to roll up his sleeves! Edited by Baldo, Jul 9 2011, 10:51 AM.
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| Mason | Jul 9 2011, 10:52 AM Post #30 |
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Parts unknown
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. The Job and Housing (foreclosures) crisis is out of Control. If they don't Raise Taxes soon, we may never recover. . . |
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