Jobless Rate Over 10%

[DeHannen]

Jobless Rate Jumps to 10.2% as Labor Market Still Weak - Economy * US * News * Story - CNBC.com

The Labor Department said the unemployment rate was the highest since April 1983. It revised job losses for August and September to show 91,000 fewer jobs lost than previously reported.

Most economists believed the US would hit 10%. Now it will be interesting to see if it the rate starts rolling over, or goes even higher.

[Bullwrinkle]

Thank God we did that massive stimulus package - otherwise unemployment would be really bad.

Sincerely

The WH Liberal Sheeple

[Dr. Strangelove]

Is this change we can believe or are we being blown away on a national scale?

[DeHannen]

Originally Posted by Bullwrinkle

Thank God we did that massive stimulus package - otherwise unemployment would be really bad.

Sincerely

The WH Liberal Sheeple

[Redwingenator]

Originally Posted by DeHannen

Liberals are really bad at making graphs. That graph should be placed next to the hockey stick curve for global warming.

[Cym Jim]

Why can't these losers just pull themselves up by their bootstraps and get a damn job?

[Redwingenator]

Originally Posted by Cym Jim

Why can't these losers just pull themselves up by their bootstraps and get a damn job?

They will, it's just too bad that throwing $Trillions of dollars at the problem has resulted in more debt that needs to be paid back without reducing the jobless rate.

[FC Juventus]

i can't wait until these intellects take over 1/6th of the economy

[ChicagoMark]

Couple interesting charts on this site. Employment is not going in the right direction. It appears we have a "jobless" recover. What the hell is that! An oxymoron if I've ever heard one.

http://www.calculatedriskblog.com/20...cord-part.html

The stock market and most of the economy is being held up by massive government intervention that cannot continue for much longer.

[Dr. Strangelove]

Originally Posted by FC Juventus

i can't wait until these intellects take over 1/6th of the economy

The Federal Government already is responsible for 20% of the economy with a federal budget outlay of approximately $3 Trillion vs. a GDP of $15 Trillion.

And they're doing a bang up job.

[MichState04]

That damn George Bush!

[GRR Spartan]

Originally Posted by Cym Jim

Why can't these losers just pull themselves up by their bootstraps and get a damn job?

That would be make a damn job.

Maybe we can all sell Tupperware, Avon, fuel additives, insurance, join The Team or Amway and sell everything to each other.

New construction that isn't publicly funded is grinding to a halt because there are so many empty commercial and industrial spaces available.

Going to get tougher.

[Zakath]

Originally Posted by ChicagoMark

Couple interesting charts on this site. Employment is not going in the right direction. It appears we have a "jobless" recover. What the hell is that! An oxymoron if I've ever heard one.

Calculated Risk: Employment-Population Ratio, Record Part Time Workers, Weak Holiday Hiring

The stock market and most of the economy is being held up by massive government intervention that cannot continue for much longer.

The first graph is the most stunning, and needs to be shown here.



That's one hell of a drop in the percentage of adult Americans working, given the necessity of the two working parent households.

The retail hiring numbers are going to be interesting as well for the Christmas season. Given the new dynamic of the Internet and the growth of Amazon, Overstock, etc. the need for additional workers in a typical retail store (be it stand-alone or in a mall) is going to continue to drop.

[FC Juventus]

this is exactly what oma and the dems are hoping for. americans unemployed and losing their health insurance... enter nanny washington to the rescue and public option everyone.

[Bullwrinkle]

Originally Posted by Redwingenator

Liberals are really bad at making graphs. That graph should be placed next to the hockey stick curve for global warming.

[Daft Punk]

Originally Posted by DeHannen

Updated.

[Redwingenator]

Originally Posted by Daft Punk

Updated.

It's like the liberals live in Bazzaro World where they see everything the opposite of what it is in the real world.

[Daft Punk]

Originally Posted by Redwingenator

It's like the liberals live in Bazzaro World where they see everything the opposite of what it is in the real world.

Indeed. The only talking point they can cling to is "it probably would have been way worse without the stimulus package".

Plain and simple, Obama bought this economy with the $787 billion porkulus bill that he promised would keep unemployment no higher than 8%.

[sparty_in_madtown]

For those of you are too young to remember - Ronald Reagan the star of the conservatives and righties of the world - took office in 1981with unemployment rate was below 8% and two years later the rate went up to almost 10%. It didn't come down to below 8% again till 1985.

Would you be criticizing him now? We are only 9 months into Obama's presidency. It was clearly stated earlier in the year by many econmists that the stimulus was too small to make an impact. Too much went to tax cuts which in retrospect didn't help because people saved the money instead of spending it.

Governments are now having to downsize because of the lost tax revenues. When that happens people lose jobs. Colleges, schools, prisons etc are all being impacted big time. The stimulus is filling the gap here.

Reagan did the same thing Obama is doing but his "government" spending was on the military which saw dramatic increases. That was his stimulus bill.

[Bullwrinkle]

Originally Posted by sparty_in_madtown

For those of you are too young to remember - Ronald Reagan the star of the conservatives and righties of the world - took office in 1981with unemployment rate was below 8% and two years later the rate went up to almost 10%. It didn't come down to below 8% again till 1985.

Would you be criticizing him now? We are only 9 months into Obama's presidency. It was clearly stated earlier in the year by many econmists that the stimulus was too small to make an impact. Too much went to tax cuts which in retrospect didn't help because people saved the money instead of spending it.

Governments are now having to downsize because of the lost tax revenues. When that happens people lose jobs. Colleges, schools, prisons etc are all being impacted big time. The stimulus is filling the gap here.

Reagan did the same thing Obama is doing but his "government" spending was on the military which saw dramatic increases. That was his stimulus bill.

First - get your facts straight. Reagan reduced income tax rates across the board and indexed them to inflation.

Second - Did Reagan promise that by more than tripling the previous record budget deficit that he would keep unemployment below a certain level?

[GRR Spartan]

Bully likes to forget Reagan increased spending, decreased taxes and job growth was paced by the growth in public jobs, even Federal government jobs.

So the guy conservatives love increased the size of government and used deficit spending.

Right now if the price of gasoline and other fuels would drop to 0.99 to $1.25 per gallon like they did when Iran and Iraq had to fund their war so the market was flooded with oil exports the current recession would end nearly as fast as it did under Reagan. The big difference is Reagan (and MI) had a manufacturing sector to help cure the economic ills. Not there this time.

[Dr. Strangelove]

Originally Posted by GRR Spartan

Bully likes to forget Reagan increased spending, decreased taxes and job growth was paced by the growth in public jobs, even Federal government jobs.

So the guy conservatives love increased the size of government and used deficit spending.

Right now if the price of gasoline and other fuels would drop to 0.99 to $1.25 per gallon like they did when Iran and Iraq had to fund their war so the market was flooded with oil exports the current recession would end nearly as fast as it did under Reagan. The big difference is Reagan (and MI) had a manufacturing sector to help cure the economic ills. Not there this time.

Actually it was the Saudis not the Iranians and the Iraqis that flooded the market in the 1980s.

Spending as % of GDP was about 35% under Reagan - it's about 45% now.

[Bullwrinkle]

Originally Posted by Dr. Strangelove

Actually it was the Saudis not the Iranians and the Iraqis that flooded the market in the 1980s.

Spending as % of GDP was about 35% under Reagan - it's about 45% now.

Don't confuse him with the facts. He has enough difficulty forming a coherent statement as it is.

[DeHannen]

Originally Posted by Daft Punk

Updated.

Thanks for the updated chart.

So now the Libs are on record at not only getting the unemployment rate incorrect, they are also wrong on WHEN the unemployment rate would start going back down. No smoothing mechanism yet in that chart. What a cluster.

[GRR Spartan]

Bully is so smart he voted twice forBush2 who set the table for the current mess with his blind faith in market force correction.

Bully and Bush2 just don't think it matters if the entire economy grinds to a halt while the market corrects itself.

So is your idea of a freeze on government spending so we can be the new edition of Japan's stagnate economy?

Bully, you are always full of pithy remarks but you give no ideas and you are unwilling to discuss the consequences of your one size fits all draconian fixes.

Please tell us what Obama can do since the robust manufacturing segment that Reagan relied on in the 1981-1988 years is gone. A smart guy like you and all the conservative brain trusts must have something? Is it The Team? Is it Avon?

Is it tax cutting our way out so we have a middle class that can't afford to send their children to college because their earnings have been reduced, health care costs increased and they are stuck in their over priced mortgages?

Come on smart guy. No Limbaugh/Beck 15 second no explanation answers. Belly up to the bar for the second time in your life.