Jobless rate tops 10 pct. for first time since '83

[Councilman]

Jobless rate tops 10 pct. for first time since '83 - Yahoo! Finance

What the hey! This wasn't going to happen if we do as OBama wished. Yea sure.

By Christopher S. Rugaber, AP Economics Writer
Friday November 6, 2009

WASHINGTON (AP) -- The unemployment rate has hit double digits for the first time since 1983 -- and is likely to go higher.

The 10.2 percent jobless rate for October shows how weak the economy remains even though it is growing. The rising jobless rate could threaten the recovery if it saps consumers' confidence and makes them more cautious about spending as the holiday season approaches.

The October unemployment rate -- reflecting nearly 16 million jobless people -- jumped from 9.8 percent in September, the Labor Department said Friday. The job losses occurred across most industries, from manufacturing and construction to retail and financial.

Economists say the unemployment rate could surpass 10.5 percent next year because employers are reluctant to hire.

President Barack Obama called the new jobs report another illustration of why much more work is needed to spur business creation and consumer spending. Noting legislation he's signing to provide additional unemployment benefits for laid-off workers, Obama said, "I will not rest until all Americans who want work can find work."

The government's monthly unemployment report is based on two surveys, one of households, one of companies' payrolls. The household survey showed that about 558,000 more people were unemployed last month than in September, raising the total to 15.7 million. The company survey, however, showed only a third as many job losses -- 190,000.

This really does not require a great deal of comment to point out the obvious. That being Obama is a total amateur who has placed around himself other inept amateurs.

 

[American]

They say it would have been worse without the stimulus. They always have an answer.

 

[Councilman]

Isn't it a wondrous thing the stimulus has accomplished by keeping the rate below the 8 % stated by Obama. Oh wait 10.2 is more than 8 isn't it.
Oh well must be some kind of mistake. That's right it was a mistake to spend all that money to save giant businesses and a few thousand jobs when millions are needed. The mony going directly to people would do more good.

 

[American]

The liberals are patting themselves on the back, while tanking the economy and ****ing the American people. But don't worry, at least they care.

 

[BmanMcfly]

They say it would have been worse without the stimulus. They always have an answer.

Of course it would have been worse... the CEO's that profited millions in bonuses would have instead been forced to shut their doors... instead they've now fully bankrupted the economy... Put it this way : about 2 weeks ago gold was around 950 and ounce, today it's about 1100... do you think gold increased in value that much, or do you think that the value of your dollars has decreased so it takes that much more to buy an ounce of gold??

Jobless rate tops 10 pct. for first time since '83 - Yahoo! Finance

What the hey! This wasn't going to happen if we do as OBama wished. Yea sure.

By Christopher S. Rugaber, AP Economics Writer
Friday November 6, 2009



This really does not require a great deal of comment to point out the obvious. That being Obama is a total amateur who has placed around himself other inept amateurs.

In that 10% what is all counted?? Is it people that are unemployed on assistance?? Does it count those that still don't have a job and are no longer on assistance? Does it count those that have given up on looking for work? Does it count those that are going back to school to get a better job?

(Cause if it doesn't, you could be looking at an unemployment rate of much closer to 20%)

 

[Smoke[MaxX]]

You have 11 months to fix a broken economy (fix, not ignore it) and you can't spend any money. Go.

 

[BmanMcfly]

You have 11 months to fix a broken economy (fix, not ignore it) and you can't spend any money. Go.

1 - Get out of the federal reserve system (They've screwed up too many times to be left unchecked)
2 - End derivative investments
3 - Recalculate mortgages based on lost investments
4 - Cut spending
5 - Lower taxes
6 - (If taxes needed to be raised) Provide incentives for small business upstarts
7 - If a 'bailout' is needed distribute it to everyone... a 10k cheque to everyone would have cost less then the bailout as it was and would have created a benefit for the economy
8 - Work on equalizing our trade deficits
9 - Prosecute employers of illegal immigrants
10 - Dedicate policework to uncover all the white collar crime that led to this collapse in the economy (Possibly YEARS worth of investigative work required)

I'm sure there's more that could have been done that would have cost less then TARPS last reported 23.7 trillion dollars GONE. (BTW, YOU gotta help pay that back)

 

[zimmer]

They say it would have been worse without the stimulus. They always have an answer.

HEY!!!! Stim...U...Late.

.

 

[apdst]

They say it would have been worse without the stimulus. They always have an answer.

This is that jobless recovery we've been hearing so much about.