US unemployment hits 25-year high

Khayembii Communique said:

Except in California.

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What jobs do you think are being created in California? We are leading the nation in job losses with a new high 10% unemployment rate.

What jobs do you think are being created in California?

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I was referring to the massive layoff of government employees.

Khayembii Communique said:

I was referring to the massive layoff of government employees.

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What massive layoff of Government employees would that be? Do you have some facts to support his statement?

There was a furlough threatened if the legislature did not pass a budget; but there hasn't been a massive layoff of Government employees unless I missed the news.

UtahBill said:

Obama could help the situation by encouraging those who are nearing retirement to do so early, IF they can afford it. That makes more jobs available to the younger generation.
Removing the 10% penalty for early IRA withdrawals, or reducing the age to 55 might do the trick....even if the withdrawal is done without retiring, it might serve as an added stimulus to the economy.
If their savings is in the stock market, not a good idea, but most in that age bracket should be in interest bearing accounts by now..

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UtahBill just when I was coming to appreciate your unique POV, you go and suggest something like this. Suggesting that able bodied people STOP WORKING is ridiculous~! It sends a terrible message that in order to get things going again, the oldies (not to mention a wee bit of age discrimination in there) should stop being productive and donn their cardigans. More than ever we need their experience out there in the business world. They've seen similar markets and they survived it. Let 'em teach us younger folk how to weather this storm.

People need to adjust their priorities and goals. Are there nursing shortages in your area? Go back to school, and get a nursing degree. We may not need all the neighborhood daycare centers that sprung up all over America, maybe it's a good time to open a school to teach adults how to cook again. Start a nursery or a greenhouse and teach people how to grow their own food. There's lots of ways people can adjust their career goals to suit what's going on. But telling people to retire early isn't one of them.

Red_Dave said:

Sure theres a precedent. Its called ww2.

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Okay, I can't find anything older, but I read where defense spending made up 76% of the budget around 1945. So what precedent are we following?

What massive layoff of Government employees would that be? Do you have some facts to support his statement?

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Didn't Schwarzenegger just lay off a whole ton of government employees? Or was that just a possibility that didn't go through?

Not to worry.
Obama's crystal ball says the fundamentals are fine.
The old gloom and doom is over.
Was just a little glitch in the ball program.
Go out and spend.

Happy days are here again!

Khayembii Communique said:

US unemployment has risen to 8.1 per cent, the highest level since 1983, according to a US government report.

The US labour department report said on Friday that 651,000 jobs were lost from the struggling US economy in February.

Al Jazeera's John Terrett in New York said the figures were worse than many analysts had been expecting.

The monthly report on the labour market is seen as one of the best indicators of the state of the US economy.

Al Jazeera

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US unemployment hits 25 year high....ah, nothing like a good high!