Keyword: unemployment

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  • The Real Reason Obama Got Elected ("Freebie" Nation)

    11/11/2012 5:48:20 AM PST · by tobyhill · 36 replies
    fox news ^ | 11/8/2012 | Gerri Willis
    Here’s an interesting plot twister; Republicans made the assumption, incorrectly as it turns out, that voters in states with high-unemployment would kick the bums out. That is, that they’d vote Obama out of office and try to find someone who could solve the jobs problem in this country. Turns out, the opposite has happened. Voters in high-unemployment states actually like the president, and the reason is obvious; the Federal Government is paying the jobless, extending unemployment benefits, food stamps, and even underwriting disability payments from Social Security. Think we’re different from the Europeans? Think again. The proportion of Greek men...
  • Share This Massive List Of Post-Election Firings And Layoffs With Everyone You Can

    11/11/2012 6:16:21 AM PST · by SeekAndFind · 26 replies
    The Economic Collapse Blog ^ | 11/10/2012 | Michael Snyder
    By Michael, on November 9th, 2012 The victory by Barack Obama on election night has resulted in a huge wave of firings and layoffs all over America. A large number of businesses seem to have suddenly shifted into panic mode. The number of layoff announcements that we have seen in the last 48 hours has been absolutely shocking. So why is this happening? Well, the truth is that the federal government is absolutely suffocating small businesses all over America with rules, regulations and taxes. If you have never tried to run a small business, then you have no idea...
  • Bankrupt Bakers Footwear liquidating 21 Los Angeles-area stores (150 altogether)

    11/11/2012 4:11:50 AM PST · by 2ndDivisionVet · 9 replies
    The Los Angeles Daily News ^ | November 9, 2012 | Gregory J. Wilcox, Staff Writer
    Bankrupt Bakers Footwear Group on Friday began liquidating 150 stores across the country, including 21 in the Los Angeles area. The St. Louis-based company's stores are being liquidated by Tiger Capital Group and SB Capital Group and the process should be completed by year's end. Stores being closed have about $30 million in inventory, the companies said in a statement. There are 33 stores in California. The going-out-of-business sales involve 70 percent of the group's Bakers and Wild Pair mall-based stores, which are familiar to shoppers throughout Los Angeles and Orange counties. Bakers Footwear Group sells a private-label and national-brand...
  • Economy: Post-Election Firings and Layoffs Surge

    11/10/2012 1:41:38 PM PST · by 2ndDivisionVet · 71 replies
    Market Daily News ^ | November 10, 2012 | Michael Snyder
    The victory by Barack Obama on election night has resulted in a huge wave of firings and layoffs all over America. A large number of businesses seem to have suddenly shifted into panic mode. The number of layoff announcements that we have seen in the last 48 hours has been absolutely shocking. So why is this happening? Well, the truth is that the federal government is absolutely suffocating small businesses all over America with rules, regulations and taxes. If you have never tried to run a small business, then you have no idea how oppressive this system actually is for...
  • John Schnatter Papa John's CEO: Obamacare likely to raise costs, employee's hours being cut

    11/10/2012 12:23:22 AM PST · by 2ndDivisionVet · 28 replies
    WPTV-TV ^ | November 8, 2012 | Jessica Lipscomb
    A day after Barack Obama earned a second term in the White House, Papa John's founder and CEO John Schnatter said the president's signature health-care reform law would increase his business costs and possibly result in employees' hours being cut. Schnatter, a part-time Naples resident, made the comments Wednesday night inside a small auditorium at Edison State College's Collier County campus. In August, he made national headlines after telling shareholders the Affordable Care Act — commonly known as Obamacare — would result in a 10- to 14-cent increase for customers buying a pizza. "I got in a bunch of trouble...
  • Scores of US Businesses Announce Closings and Layoffs Due to Obama's Re-election

    11/09/2012 10:27:25 AM PST · by 2ndDivisionVet · 17 replies
    The Examiner ^ | November 9, 2012 | Barry Secrest
    Over the days following President Obama's re-election, the US stock market has undergone a two day sell-off resulting in a loss of over 400 points. On Wednesday, immediately following the election, the market suffered it greatest single day loss of the year. While numerous experts point to the Europe debt crisis or an approaching fiscal cliff in the US as the culprit, many business owners have indicated Obama's re-election as a direct cause of the faltering business climate and loss of confidence. One Las Vegas business owner, after having warned his employees of a certain lay-off if Obama were re-elected,...
  • Research in Motion lays off workers; Irving office to remain open (Blackberry phone, 200 laid-off)

    11/08/2012 3:46:54 PM PST · by 2ndDivisionVet · 9 replies
    The Dallas Business Journal ^ | November 7, 2012 | Jeff Bounds, Senior Staff Writer
    Research in Motion, the maker of the BlackBerry smartphone, did a layoff at its U.S. headquarters in Irving Wednesday, a source familiar with the situation said. The source, who requested anonymity because of the sensitivity of the matter, confirmed that a majority of those affected were call-center staffers. There was speculation that approximately 200 staffers were let go, although the source could not confirm a number. RIM employs in the ballpark of 700 people in Irving, the source said. In an emailed statement, a RIM spokesman declined to comment on the layoff. The company is reducing its global workforce by...
  • Wind industries lay off hundreds of workers

    11/08/2012 3:04:08 PM PST · by 2ndDivisionVet · 27 replies
    Minnesota Public Radio ^ | November 6, 2012 | Dan Gunderson
    MOORHEAD, Minn. — Hundreds of workers in our region are losing their jobs as wind turbine manufacturers cut production. The federal tax credit that subsidizes wind energy is set to expire at the end of the year, and political uncertainty is putting the brakes on the wind industry. More than 500 workers are losing their jobs in the Red River Valley. By the end of November, 345 workers who make wind turbine blades at a Grand Forks, N.D. factory will be out of work. Bill Burga, who heads manufacturing in North and South America for LM Wind Power, the Denmark-based...
  • Exide to idle operations in Laureldale, lay off 150

    11/08/2012 2:42:45 PM PST · by 2ndDivisionVet · 5 replies
    The Reading Eagle ^ | November 8, 2012
    Exide Technologies announced Thursday that it will be idling its lead recycling operations in Laureldale and laying off 150 workers, effective no later than March 31. Idling means that all of the permits and approvals will be kept to date and the plant will be maintained in case Exide wants to reopen it at a later date, according to Susan Jaramillo, spokeswoman for Exide. The plant has been operating since the 1930s. The company will continue to operate its plastics recycling business with about 24 employees. "This decision was based on several factors including the dramatic swings in the lead...
  • TE Connectivity to close Guilford plant, lay off 620

    11/08/2012 1:24:27 PM PST · by 2ndDivisionVet · 5 replies
    The Piedmont Triad Business Journal ^ | November 8, 2012 | Matt Evans and Amy Dominello Braun
    TE Connectivity, which makes electrical connectors for appliances and other devices, will close its factory in north High Point and eliminate 620 jobs, according to a company official. The closure and layoffs will happen in phases through the end of 2013, said Tom Peacock, a spokesman for the Pennsylvania-based firm said. TE Connectivity (NYSE: TEL) was known as Tyco Electronics until a name-change in 2011. Peacock said the closure of the facility will not impact the company’s other Triad facilities, and 50 employees from the closing factory will be transferred locally. TE Connectivity has three other Triad facilities. Peacock said...
  • Values, Not Demographics, Won the Election (He's serious!)

    11/08/2012 1:05:11 PM PST · by 2ndDivisionVet · 22 replies
    The New York Times ^ | November 7, 2012 | Joel Benenson
    MUCH of the coverage of Tuesday’s results has focused on the strength of Barack Obama’s coalition — minorities, women and young voters. But that analysis misses the real point. The contours of the 2012 presidential race were shaped less by the country’s changing demographics than by the underlying attitudes and values of American voters, who are always far more complex than they appear to pollsters. The president’s victory was a triumph of vision, not of demographics. He won because he articulated a set of values that define an America that the majority of us wish to live in: A nation...
  • Forward! To mass layoffs!

    11/08/2012 9:48:06 AM PST · by Red Steel · 113 replies
    Human Events ^ | 11/8/2012 07:58 AM | John Hayward
    Obamanomics grinds grimly onward,  as CNBC brings word that on the day after the election, “Boeing announced a major restructuring of its defense division on Wednesday that will cut 30 percent of management jobs from 2010 levels, close facilities in California, and consolidate several business units to cut costs.”  It was sweet of them to keep that under wraps until after the election, wasn’t it? And that’s not even the dreaded “sequestration” layoffs, which Obama broke the law to convince defense contractors to keep under wraps until after the election.  Those are yet to come.  The upside to living in a banana Republic...
  • The Free Republic "Elections Have Consequences" Repository

    11/08/2012 10:08:08 AM PST · by ScottinVA · 69 replies
    Self | 8 November 2012 | ScottinVA
    Fellow FReepers -- This is designed to serve as a single repository for layoff announcements, stories and other related news pertaining to the future dismantling of our economy due to the re-election of Barack Obama. The goal here is a one-stop source to bolster our argument that Obama's reelection is truly the detriment to our economic well-being.
  • Jobless claims fall; Sandy distorts data

    11/08/2012 5:48:13 AM PST · by John W · 8 replies ^ | Reuters
    WASHINGTON - The number of Americans filing new claims for unemployment benefits fell last week, a sign the labor market's slow recovery was gaining traction although a severe storm distorted the data. Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 355,000, the Labor Department said on Thursday. That was below the median forecast in a Reuters poll of 370,000. An analyst from the department said Sandy, a mammoth storm that slammed into the East Coast on October 29, boosted claims in some states by leaving people out of work, but also reduced claims in at least...
  • Republican Business Owner Fires 8-Employess (all Obama supporters) Day After Election

    11/07/2012 8:52:48 AM PST · by Arcy · 74 replies
    Cannot Reveal Due to Possibility of Lawsuits | 11-7-12 | Arcy
    The day after the election, 8-employees of a Florida based company were individually called into the office of management and informed that their services would no longer be needed following the Thanksgiving Holiday weekend. The owner and his company cannot be named for fear of legal hassles and thug reprisals, even though Florida is a "right-to-work-state". He had previously let it be known to trusted individuals outside the company, that if Barack Obama was re-elected, the healthcare laws and other anti-business policies the Obama admistration is pushing would force his company to down-size, and that his down-sizing would begin with...
  • U.S. Shed 9,000 Mining, Energy Jobs in October, 17,000 Since May

    11/04/2012 4:42:41 AM PST · by george76 · 6 replies
    Heritage ^ | November 2, 2012 | Lachlan Markay
    Buried in Friday’s Bureau of Labor Statistics report on the country’s unemployment situation was this disheartening fact: 9,000 employees of the mining and resource extraction sector lost their jobs in October. That brings total job losses in that sector to 17,000 since May, according to BLS.
  • Black Unemployment Jumps 10.9% on Obama

    11/03/2012 10:10:11 PM PDT · by NaturalBornConservative · 3 replies
    Natural Born Conservative ^ | November 4, 2012 | Larry Walker Jr
    Are you better off today than four years ago? - By: Larry Walker, Jr. -According to the latest report from the Bureau of Labor Statistics, the official unemployment rate for all Americans rose by 1.3% since Barack Obama took office. But over the same period, the unemployment rate for Black Americans jumped by 10.9%, and the number of unemployed Black Americans climbed by 19.1%. So are we better off than we were four years ago? You might be, but the Black Community as a whole definitely is not. So will 90% of Blacks vote to re-elect Obama anyway? You betcha,...
  • Extended Jobless Benefits Set to Expire Dec. 29 (Nation-wide)

    11/02/2012 3:01:34 PM PDT · by 2ndDivisionVet · 20 replies
    Hispanic Business ^ | October 29, 2012 | Richard Craver
    The local economy, already bruised by a persistently high jobless rate, could take another hit as the new year begins, regardless of who is elected president. That's because all federal extended unemployment benefits will expire Dec. 29 unless Congress acts to extend them again. If the expiration occurs, North Carolinians would receive just up to 26 weeks of regular state benefits if they qualify for unemployment benefits, rather than what had been up to 99 weeks of state and federal benefits. Which means anyone whose job was terminated or ended after June 30 will not get any more federal unemployment...
  • Food Stamp Growth 75X Greater than Job Creation

    11/02/2012 10:00:53 AM PDT · by Gil4 · 11 replies
    The Weekly Standard ^ | Nov 2, 2012 | DANIEL HALPER
    With the latest jobs report, it is now the case that "Under Obama, Food Stamp Growth [Is] 75 Times Greater Than Job Creation," according to statistics compiled by the Republican side of the Senate Budget Committee. "For Every Person Added to Jobs Rolls Since January 2009, 75 People Added To Food Stamp Rolls." Here's a chart detailing the growth: Since January 2009, as the chart shows, a net of 194,000 new jobs have been created. During that same time, 14.7 million have been added to the food stamp rolls. "Simply put, the President’s policies have not produced jobs. During his...
  • Why The Unemployment Rate Is Direct Evidence Of Obama's Economic Failure (pic)

    11/02/2012 10:13:34 AM PDT · by The Looking Spoon · 2 replies
    The Looking Spoon ^ | 11-2-12 | The Looking Spoon
    Whether you accept this "deflated" rate (due to low labor force participation) or not there is no getting around this administrations abject failure on the economy.
  • Unemployment up 170,000 last month, unemployment rate higher today then when Obama took office

    11/02/2012 8:48:18 AM PDT · by Qbert · 10 replies
    Washington Examiner ^ | November 2, 2012 | Conn Carroll
    The Bureau of Labor Statistics released the October jobs report today showing that the labor market has only gotten worse since President Obama was sworn into office. The number of unemployed Americans rose by 170,000 in October and the unemployment rate rose to 7.9 percent. When Obama was inaugurated in January 2009 unemployment was just 7.8 percent. Overall the number of unemployed Americans is up by 209,000 since Obama took office.
  • Long-Term Unemployment Rises in October to 40.6%

    11/02/2012 8:45:13 AM PDT · by xzins · 3 replies
    CNS ^ | November 2, 2012 | Matt Cover
    The long-term unemployment rate rose to 40.6 percent in October, up from September’s level of 40.1 percent of the total unemployed, according to a report from the Bureau of Labor Statistics Friday. Long-term unemployment is unemployment lasting for 27 consecutive weeks or longer, according to BLS. The government reported that just over 5 million people were unemployed for more than six months – 27 weeks – rising from September’s level of 4.8 million. Long-term unemployment has remained elevated since the end of the recession in 2009. In January 2009, when President Obama took office, there were 2.7 million long-term unemployed...
  • October jobless rate is 7.9 percent: 171,000 jobs created. Good news for Obama (Desperation spin)

    11/02/2012 7:42:08 AM PDT · by Qbert · 18 replies
    Chicago Sun Times ^ | November 2, 2012 | Lynn Sweet
    COLUMBUS, Ohio--The last jobs report before the election was out Friday morning and the 7.9 percent October rate--virtually unchanged from last month--by not jumping to 8 percent--is a break for President Barack Obama. If the number had gone higher--it would have given Mitt Romney at last chance before the Tuesday balloting to mount a strong argument about Obama's tenure over the economy. The Obama team will be able to argue that there has been 32 months of job growth and the number of "discouraged workers"-- workplace dropouts--has declined. Romney has been hitting Obama on that point. The Bureau of Labor...
  • Obama Labor Sec. Celebrates 7.9% Unemployment (14.3 for blacks), Gives Candy to Reporters

    11/02/2012 7:04:47 AM PDT · by kristinn · 13 replies
    MacFarlane News via Twitter ^ | Friday, November 2, 2012 | Seth MacFarlane
    US Labor Secretary just bounced into studio with a big smile. Handed out candy to reporters. Loves job numbers Link to photo.
  • Forward? Number of Unemployed Increases By 170k Offsetting 171k Increase in Non Farm Payrolls

    11/02/2012 7:00:54 AM PDT · by whitedog57 · 2 replies
    Confounded interest ^ | 11/02/2012 | Anthony B. Sanders
    According to the Bureau of Labor Statistics, the unemployment rate rose from 7.8% to 7.9% for October. The number of unemployed in the US rose from 12,088,000 in September to 12,258,000 in October. An increase of 170,000. That almost perfectly offsets the increase in non farm payrolls (+171,000). And the duration of unemployment 27 weeks and over rose to 40.6%. The employment to population ratio rose in October to 58.8, but still remains at a level near the beginning of the “Reagan Recovery.” The unemployment rate among blacks/African Americans rose to 14.30%. There will be no joy in the Black/African...
  • Putting Today's Job Number In "Seasonally Adjusted" Context (Read before you read the Gov't release)

    11/02/2012 6:05:47 AM PDT · by Zakeet · 2 replies
    Zero Hedge ^ | November 2, 2012
    Today's jobs number is expected to come at 125,000, with a high estimate of 154,000 from John Hancock financial, and a low of 30,000 from Westpac Banking, and with a whisper expectation at 150,000 courtesy of yesterday's "stronger than expected" ADP re-revised print. A beat or miss at over 1 standard deviation will promptly wake the HFT algos from their deep slumber. Wait did we say miss? Hah. Anyway, just to put today's seasonally adjusted expected monthly job growth in context, below is a chart showing the average seasonal adjustment for each month of the year in the past decade....
  • BLS Employment Situation Summary (up 0.1% to 7.9%)

    11/02/2012 5:35:32 AM PDT · by xzins · 76 replies
    Bureau of Labor Statistics ^ | 2 Nov 12 | Bureau of Labor Statistics
    THE EMPLOYMENT SITUATION -- OCTOBER 2012 Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, health care, and retail trade. _______________________________________________________________________________ | | | Hurricane Sandy | | | |Hurricane Sandy had no discernable effect on the employment and unemployment | |data for October. Household survey data collection was completed before the | |storm, and establishment survey data collection rates were within normal ranges| |nationally and for the affected areas. For information on how unusually...
  • NFP and Unemployment Rate Thread - Guess the numbers

    11/02/2012 4:31:55 AM PDT · by Outraged At FLA · 16 replies
    CNBC ^ | 11/02/12 | CNBC
    Traders are watching to see if any surprises show up in the October employment report, the last before the election, but the real surprise could come in the November number when the aftereffects of Super Storm Sandy are felt in the job market. Economists expect the October report to show a tepid 125,000 new nonfarm payrolls and a steady unemployment rate of 7.8 percent, according to Reuters. The report has been considered key since it is the final report card on job growth ahead of Tuesday’s presidential election, and expectations are low.
  • Two-thirds of jobs go to immigrants during Obama’s four years

    11/01/2012 1:32:14 PM PDT · by Jim Robinson · 16 replies
    Washington Times ^ | Oct 31, 2012 | By Stephen Dinan
    "Researchers say legals and illegals are more mobile than natives in America" Two-thirds of those who have found employment under President Obama are immigrants, both legal and illegal, according to an analysis that suggests immigration has soaked up a large portion of what little job growth there has been over the past three years. The Center for Immigration Studies is releasing the study Thursday morning, a day ahead of the final Labor Department unemployment report of the campaign season, which is expected to show a sluggish job market more than three years into the economic recovery. That slow market, combined...
  • Tomorrow Morning's Jobs Numbers Could Be a Last Minute October Surprise!

    11/01/2012 12:18:39 PM PDT · by xzins · 28 replies
    1 Nov 12 | Xzins
    When Gallup released it's mid-month jobs survey numbers, they had dropped to 7.3%. They generally are a few points under the monthly report due out tomorrow, so that would mean a 7.5% UE3. However, we know Obama and his minions will do all in their power to tie into their "don't change now that things are looking up" campaign theme the last few weeks. It is very possible that the media is all keyed to go into feeding frenzy for the entire weekend with the "progress is being made; don't change now" message. Moreover, it's very likely that Obama will...
  • ADP: Private Sector Employment Adds 158,000 Jobs in October After LOSING 402,000 Jobs With Revision

    11/01/2012 6:43:40 AM PDT · by whitedog57 · 7 replies
    Confounded Interest ^ | 11/01/2012 | Anthony B. Sanders
    According to ADP, private sector employment increased by 158,000 jobs in October. This beat expectations of 131,000 but is lower than the previous reading of 158,000 (which has been revised downwards to 114,000 which was actually 88,000). This is the most jobs added in eight months. This is especially welcome news after the ADP revision showed that since February 2012, 402,000 fewer jobs were created than previously thought. ADP wanted to be more consistent with BLS for employment numbers, so the downward revision that makes this week’s increase look even higher is indeed consistent with BLS. Meanwhile, Challenger US Job...
  • Jobless in the Crisis: Eurozone Unemployment Higher than Ever Before

    10/31/2012 10:19:15 PM PDT · by Olog-hai · 3 replies
    Der Spiegel ^ | 10/31/2012 | (cgh — with wire reports)
    Global financial markets have, for the moment, been calmed. The European Central Bank has embarked on its program to buy unlimited sovereign bonds as needed from eurozone countries suffering from high borrowing costs and all of those countries have adopted strict austerity programs to get their budgets in order. That, though, has not been good for economic growth—and now the European Union has released new figures highlighting a struggling eurozone economy. According to a report released on Wednesday by Eurostat, the European Union's statistical office, unemployment in the 17-nation common-currency area stood at 11.6 percent in September, the highest it...
  • ADP Revises Methodology and Finds 365,000 FEWER Jobs Were Created Than Thought in 2012

    10/31/2012 1:24:52 PM PDT · by whitedog57 · 9 replies
    Confounded Interest ^ | 10/31/2012 | Anthony B. Sanders
    There were two purchasing manager reports today: Chicago and Milwaukee. The Chicago Purchasing Manager index was less than expected at 49.9 for October, although up a wee bit from September’s reading of 49.7. Here are the gory details to go along with the 49.9 reading. Employment at a 33 month low and inventories slipped into contraction. The downward trend in the Chicago PMI index is matched by the downward trend in the Chicago employment index. The Milwaukee PMI index fell in October to 43.30 and continues to be below 50 since the end of July 2012. Both the Chicago and...
  • ADP Changes Methodology of Job-Counting; One Analyst Thinks The Change Suggests That Friday's.

    10/31/2012 12:49:01 PM PDT · by Perdogg · 12 replies
    Assuming the BLS even releases data on Friday, which they're still hedging about. ADP is a big payroll-service firm which releases its own assessment of job growth (or job losses), based partly on its own data. Their new methodology occasioned a revision to their already-reported September figures. ADP's new calculations put the monthly job creation [in September] at just 88,200, down from the 162,000 the firm originally reported earlier this month. ... The soft ADP count could add credence to those who believe the pace of job creation is slower than the government's numbers indicate. "It's huge, no doubt about...
  • Obama Economy “Is Still In A Giant Hole

    10/31/2012 10:37:26 AM PDT · by Kaslin · 3 replies ^ | October 31, 2012 | Donald Lambro
    WASHINGTON - The bleak truth about the comatose Obama economy is not just that it's barely breathing, but that it's still not far from another recession. President Obama's campaign bid for another four years is loosely based on the preposterous claim the economy is "moving forward." In fact, it's been falling backward or at least treading water on a number of fronts, and economic forecasters say it will weaken further under his policies, if he is re-elected. Economists predict yet another weak jobs figure Friday that may push the unemployment rate up a bit, reminding undecided voters and even jittery...
  • A Grim Preview Of This Friday's Jobs Number

    10/31/2012 10:35:52 AM PDT · by Outraged At FLA · 18 replies
    Zerohedge ^ | 10/31/12 | ZeroHedge
    Following this morning's dismal employment sub-index from Chicago Fed PMI and the recent Philly Fed employment sub-index, the 'data' suggests that this week's (now confirmed by the BLS that NFP will be released on Friday as scheduled) payroll data could be the first negative print since September 2010.
  • Black and White Standards

    10/31/2012 7:13:53 AM PDT · by Kaslin · 1 replies ^ | October 31, 2012 | Walter E. Williams
    The Washington Post (10/25/2012), in giving President Barack Obama an endorsement for another four years, wrote, "Much of the 2012 presidential campaign has dwelt on the past, but the key questions are who could better lead the country during the next four years -- and, most urgently, who is likelier to put the government on a more sound financial footing." The suggestion appears to be that a president is not to be held accountable to his promises and past record and that his past record is no indication of his future behavior. Possibly, the Washington Post people believe that a...
  • Obama's Reelection Will Ensure Complete U.S. Economic Collapse

    10/30/2012 8:36:16 AM PDT · by Kaslin · 24 replies ^ | October 30, 2012 | Rachel Alexander
    This coming presidential election will determine whether the U.S. ends up in another Great Depression or pulls out of the economic slump. There are numerous signs indicating that the country is headed for economic Armageddon under Obama. Some analysts are predicting the crash could come as soon as next year. Obama is following the failed policies of President Herbert Hoover which led to the Great Depression. Conservative commentator Rush Limbaugh says the U.S. is on an unsustainable course; there isn't enough money from taxes to pay everyone lifetime healthcare, lifetime pensions, and hefty incomes. The federal government now spends...
  • The political perfect storm may have already hit the elections

    10/29/2012 6:43:36 AM PDT · by John David Powell · 8 replies
    Digital Journal ^ | Oct. 28, 2012 | John David Powell
    As Big Sandy sets her eyes on New Jersey to deliver Mother Nature’s October Surprise to the nation’s east coast, a political perfect storm may have already hit the nation. Unlike Hurricane Sandy whose every move is tracked and then predicted by a host of computer models, this political perfect storm seems to have formed under the radar of daily tracking polls. The week before the presidential election sees the economy topping the list of voter concerns, with jobs, or the lack of them, sitting right in the center, just like a spider. U.S. labor secretary Hilda Solis ( did...
  • Will The Bottom Fall Out? 15 Signs That Layoffs And Job Losses Are Skyrocketing

    10/28/2012 6:15:05 AM PDT · by SeekAndFind · 7 replies
    TEC ^ | 10/27/2012 | Michael Snyder
    If you still have a good job, you might want to hold on to it very tightly because there are a whole bunch of signs that unemployment in the United States is about to start getting worse again. Over the past several weeks, a substantial number of large corporations have announced disappointing earnings for the third quarter. Many of those large corporations are also loaded up with huge amounts of debt. So what is the solution? Well, the favorite solution on Wall Street these days seems to be to lay off workers. In fact, it is almost turning into...
  • Gaming update: Layoffs everywhere, MOGA controller woes and A Game of Dwarves (Even video games?)

    10/26/2012 8:04:37 PM PDT · by 2ndDivisionVet · 5 replies
    IT World ^ | October 26, 2012 | Peter Smith
    It's been a week of bad news in the gaming world, so lets get through this together. Zynga laid off 5% of their staff this week in an attempt to shore up their bottom line. They closed a Boston office, reduced staff in Austin and have proposed shutting down shops in the UK and Japan. They're sunsetting 13 games and cutting down investment in their title The Ville (a game that is the subject of legal action from EA who claims it copies EA's The Sims Social). I'm not a fan of Zynga's practice of cloning successful games but it's...
  • 950 GMAC Jobs in peril in Waterloo

    10/25/2012 5:34:34 PM PDT · by campg · 2 replies
    Waterloo-Cedar Falls Courier ^ | 10/25/2012 | Jim Offner
    WATERLOO, Iowa --- Nearly 1,000 Waterloo jobs may be on the line in the wake of a decision by bankrupt mortgage company Residential Capital LLC, the parent company of GMAC Mortgage, to sell assets to two firms for $3 billion. On Wednesday the board of directors of New York-based ResCap granted preliminary approval to a $3 billion bid from the team of Ocwen Loan Servicing LLC and Walter Investment Management Corp. for the company’s mortgage servicing and origination business. ResCap and 50 of its subsidiaries filed for Chapter 11 bankruptcy protection in May. The bankruptcy court will consider the proposed...
  • DATA SNAP: U.S. Jobless Claims Fall 23K to 369K

    10/25/2012 7:08:41 AM PDT · by SeekAndFind · 14 replies
    NASDAQ ^ | 10/25/2012 | Jeffrey Sparshott and Eric Morath
    <p>WASHINGTON--The number of U.S. workers filing applications for jobless benefits fell last week, suggesting that the labor market continues to slowly improve.</p> <p>Initial jobless claims--a measure of layoffs--dropped by 23,000 to a seasonally adjusted 369,000 in the week ended Oct. 20, the Labor Department said Thursday. Economists surveyed by Dow Jones Newswires had forecast 365,000 new applications for jobless benefits.</p>
  • Attention recent graduates: You may now leave your parents’ basement

    10/24/2012 6:44:31 AM PDT · by SeekAndFind · 8 replies
    Quartz ^ | 10/24/2012 | Matt Philips
    Things are looking up for the lost generation. That unfortunate cohort of students ran smack into the Great Recession upon graduation. As a result, they’ve been forced to bed down with their parents for far too long. Such doubling-up drove the number of new US households to remarkably low levels. From 1997 to 2007, the country created about 1.5 million new households a year. (A household, just so we’re clear, can mean a married or unmarried couple, a family with kids, a few roommates, or two dozen people in a hippie commune, as long as they all share living quarters;...
  • Let Detroit Go Bankrupt? It Already Has [50 years of Democrat rule destroys "Paris of the Midwest"]

    10/24/2012 2:15:57 AM PDT · by Cincinatus' Wife · 27 replies
    Front Page Magazine ^ | October 24, 2012 | Daniel Flynn
    “I’m a son of Detroit,” Mitt Romney confessed during Monday’s presidential debate. “I was born in Detroit. My dad was head of a car company. I like American cars. And I would do nothing to hurt the U.S. auto industry.” But like so many Detroiters, Mitt Romney left before the capital of the U.S. auto industry could hurt him. Detroit is scary. Detroit has just been named the most dangerous city in America. This is the fourth consecutive year that Forbes has bestowed the dishonor upon the Motor City. A few years back, the Bay Area Center for Voting Research...
  • Our current economic problems are the result of bad decisions and flawed plans by President Obama

    10/22/2012 5:34:13 PM PDT · by Stuart C. Jones · 5 replies
    Vote Smart in 2012 Project ^ | October 22, 2012 | Stuart C. Jones
    Before you vote this November, keep these facts in mind: The economic recovery, which began in 2009, is the weakest in more than 70 years. Economic growth since 2009 of 6.8% is the weakest of any recovery since the end of WWII. At this point in previous comebacks the economy had grown an average of 15.5%. Consumer spending since 2009 of 6.5% is the weakest of any economic recovery since the end of WWII. At this point in previous comebacks consumer spending had grown an average of 14%. Hiring since 2009 has replaced 46% of the jobs lost during the...
  • Wisconsin nuclear power plant to be shut down

    10/22/2012 1:22:33 PM PDT · by Jyotishi · 21 replies
    Power Engineering ^ | Monday, October 22, 2012 | None specified
    Dominion (NYSE: D) on Oct. 22 said it plans to close and decommission its 556 MW Kewaunee Power Station in Carlton, Wis., after the company was unable to find a buyer for the nuclear power plant. Pending a grid reliability review by the Midwest Independent Transmission System Operator (MISO), Dominion said the station is expected to cease power production in the second quarter of 2013 and move to safe shutdown. Dominion announced in April 2011 that it would seek to sell Kewaunee as part of a regular review of its portfolio of assets to determine which assets fit strategically and...
  • You Are What Barack Says

    10/22/2012 6:35:19 AM PDT · by Kaslin · 3 replies ^ | October 22, 2012 | Dan Holler
    Remember the old saying “you are what you eat?” Well, in President Obama’s America, you are what the federal government says you are. Throughout last week’s debate, the President constantly referred to what he would do or how the government would take action. While giving lip service to America’s free enterprise system, he said “I also believe that everybody should have a fair shot and everybody should do their fair share and everybody should play by the same rules, because that's how our economy is grown.” Who defines what is a fair shot? President Obama. Who decides if you’re doing...
  • Lauding Obama, Clinton cites 'impatient' Americans

    10/19/2012 9:58:03 PM PDT · by 2ndDivisionVet · 9 replies
    Former President Bill Clinton said Friday that President Barack Obama is facing a tough re-election race because "impatient" Americans haven't fully recognized an economy on the mend. Campaigning for Obama in Green Bay, Wis., Clinton urged voters to stay the course as more signs of a recovery sink in. Clinton said voters should judge Obama on the past three years, in which private sector job growth has made up for lost ground. "This shouldn't be a race," Clinton said. "The only reason it is, is because Americans are impatient on things not made before yesterday and they don't understand why...
  • Unemployment rises sharply

    10/19/2012 3:25:31 PM PDT · by stocksthatgoup · 8 replies
    GOPUSA ^ | 10/18/2012 | Christopher S. Rugaber
    Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase represents a rebound from the previous week's sharp drop. Both swings were largely due to technical factors. The four-week average of applications, a less volatile measure, rose slightly to 365,500, the Labor Department said Thursday. That is still a level consistent with modest hiring. Last week, California reported a large drop in applications, pushing down the overall figure to the lowest since February 2008. This week, it reported a significant increase. The gyrations occurred because it processed applications...