Posted on 11/07/2008 6:04:13 AM PST by tobyhill
WASHINGTON - The nation’s unemployment rate bolted to a 14-year high of 6.5 percent in October as another 240,000 jobs were cut, the government said Friday. It was stark proof the economy is almost certainly in a recession.
The new snapshot, released by the Labor Department, shows the crucial jobs market deteriorating at an alarmingly rapid pace.
(Excerpt) Read more at msnbc.msn.com ...
OBAMA's FAULT!
Part of this is probably anticipation of an Obama win. Wish they would’ve waited until after January, though.
(and may they all be union creeps that voted Obama!)
AMEN !!!!!!!!!!!!!!!!!!!!!!!
When you after lay someone off, it’s easy. Walk through your parking lot and look for Obama stickers.
Amen to that!
Union creeps unite LOL!
A goodly amount of them may have been people who grabbed bonuses and comissions on mortgages (securities) (Funds)(policies) they knew were worthless.
“Part of this is probably anticipation of an Obama win. Wish they would’ve waited until after January, though.”
This is just a warmup.
one wonders if those brilliantly crafted “derivatives” were intentionally planted in the world financial markets for the obvious consequences that we see now.
is it an accident that the crisis came to a head just before the election?
one wonders if a whole bunch of scu&bag adolescent junior-highschoolers are converging on the levers of power as a reward for their “brilliant” market manipulations.
IMHO
“The number of workers forced into part-time hours rose by 645,000 to 6.7 million.”
Bush & PUBS will get the blame... Even if it lasts for FOUR years, this will be trumpeted in the MSM from now until it improves... Gonna make electing a PUB tough if it doesn’t get even a little better... It’s not something to celebrate...
I hope you lose your jobs and can't heat your homes and that this is the longest coldest winter on record.
IMPEACH OBAMA!
Earlier this year, the Republicans in Congress went along with the election year ploy of extending unemployment benefits. The Republicans did not want to “look mean” during an election year. (How’d that come out for them?) President Bush did not stop this either. (How’d the “New Tone” thing work out for him)
Why was this an election year ploy? If Congress wants more of something they subsidize it, if the government wants less of something, they tax it. They subsidized not working.
The Democrats knew extending unemployment benefits would cause the jobless rate to rise. This they could use against the incumbent Republicans even though they, themslves were the cause.
Now, can they stop the snowball they have created?
On a personnel note, my girlfriend’s 43 year old sister who has collected unemployment for the better part of a year was notified she was entitled to a 26 week extension. She has degrees, she could have work, has been offered work. She was let go from a well paying job, got severence pay so she would not make trouble and now collects over $500 a week in unemployment. They are paying her NOT TO WORK! With all the news outlets why does none of them say this? Hey, the government is simply paying people not to work,this is why the jobless rate is rising.
Afterall, it’s true, many of thousands of times over. But let’s not be mean Republicans! people won’t “like” us.
My company is closing the office I work at, but I managed to jump to a part time job with a utility company. I’m one of the lucky ones.
O. D. Obama Depression.
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