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Thread: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

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    Re: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

    OK, change it to:

    "Obama administration predicted unemployment would not exceed 8% if stimulus package is passed."

    Now, it's 100% true. Does that really change anything ??????????

    Last edited by Gill; 05-06-11 at 02:41 PM.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

    Quote Originally Posted by whysoserious View Post
    That the economy is slowly getting better?
    It is true that the economy is slowly improving. We have to remember that the economy still has unprecedented fiscal and monetary policy going for it. If you notice the breakout of the numbers, the private sector hired while the public sector continues to reduce. This will continue as state and local budgets have to brought into balance and stimulus money is going away. Not that this is bad but it will be a lag on the economy for some time.

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    Re: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

    The good thing about this is as someone already mentioned, private sector is back to hiring. That's extremely good.

    Overall I'd say this is good news. As for the stimulus, those projections were severely faulted. Good job Nancy.

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    Re: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

    Profits have been up for a while. Turns out it takes more than just more money in their accounts to persuade a business to hire somebody. The business has to have a need for an additional person.
    I may be wrong.

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    Re: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

    Quote Originally Posted by Whovian View Post
    Not a campaign prommise. The Magical Mystery Stimulus was supposed to keep it at no higher than 8%
    The CBO projections had unemployment lower than 9% without the stimulus.... IMHO, 90% of Americans underestimated the impact of the financial crisis.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

    There are a few factors a lot of you aren't even really looking at. Mainly acts of God. Me and many people I know right now for example have been out of work roughly for a month due to supply constraints caused by Japan. In the automotive supplier I work for, the people that are left working there right now only work 3 days, on one shift as opposed to the typical 6 days a week an entire 3 shifts would normally work. Natural disasters in United States have not helped either. I think honestly many of those new jobs probably came from relief efforts from natural disasters. Im also a believer that regardless of who would be president now, the worst is yet to come. Get ready for Great Depression Part Deux people!
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

    And don't forget that 62,000 of the 244,000 gain in employment was McDonald's hiring fair. Take those minimum wage jobs out and the numbers don't look so great.

    There has been so much talk in Washington and in the news about the national debt, terrorism, wars and healthcare that one might think these are the issues that most concern Americans in 2011. But opinion polls consistently show that none of these issues is as important to most Americans as the Big Issue: unemployment and the economy.

    An unusually vivid example occurred on April 19, which McDonald’s declared National Hiring Day, encouraging people across the country to apply for a job.

    The world’s biggest restaurant chain reported that it received one million applicants for open positions, which resulted in 62,000 people gaining employment. Another 900,000 plus were turned down.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

    Quote Originally Posted by StillBallin75 View Post
    Except that the unemployment rate went up again, even after excluding discouraged workers. It's not ALL a happy picture.
    So what if the unemployment rate went up? The US unemployment rate in its present form means very little due to the way it is made. What is important is that private sector job creation is strong and getting better.
    PeteEU

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    Re: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

    Quote Originally Posted by PeteEU View Post
    So what if the unemployment rate went up? The US unemployment rate in its present form means very little due to the way it is made. What is important is that private sector job creation is strong and getting better.
    So what ??? The unemployment rate is an important psychological factor that pushes the mood of the country up and down. And... it's pretty damn important to Obama too. No sitting president has been reelected when the unemployment rate exceeded 7.2%.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

    Good news..

    It was the third month in a row of at least 200,000 new jobs. The private sector has added jobs for 14 consecutive months. Even a slight rise in the unemployment rate to 9 percent appears to be a quirk.

    The job growth was better than economists expected and perhaps the strongest sign yet that what they call a "virtuous cycle" has taken hold: When people spend more, corporate earnings rise, leading to more hiring and then more spending.

    Businesses now hiring at fastest pace since 2006 - Yahoo! News
    “We just simply don’t know how to govern” - Rep. Steve Womack (R-AR) a member of the House Budget Committee

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