9.8 Percent and Rising

Campus Report ^ | October 13, 2009 | Sarah Carlsruh

[bs9021]

9.8 Percent and Rising

by: Sarah Carlsruh, October 13, 2009

The House Republican Policy Committee invited top economists to its Summit on the Economy and Unemployment on September 30th to address the question on so many Americans minds: What went wrong with the economy?

Representative Mike Pence (R-IN), House Republican Conference Chairman and co-sponsor of the summit with Rep. Thaddeus McCotter (R-MI), addressed the disconnect between “the priorities here in D.C. and the priorities of the American people,” such as the gulf between what politicians say about the stimulus bill and its actual performance.

“Apart from our national defense,” stated Pence, “there is no higher priority today for the American people…than to get this economy moving.”(An October Rasmussen poll now shows that “83% now view government ethics and corruption as very important, placing it just ahead of the economy on a list of 10 key electoral issues regularly tracked by Rasmussen Reports.”)

The U.S. Secretary of Labor, Hilda L. Solis, said on October 2nd in her statement on the September 2009 Employment Situation report that “This past September the economy lost 263,000 jobs.”

Mallory Factor, President of Mallory Factor Inc, a merchant bank and financial relations consultancy, outlined the economic failings of the government, saying that the U.S. “economy has lost seven million jobs [in this recession],” bringing unemployment up to 15 million people. The “stimulus promised to create or save at least 3.5 million jobs but America has actually lost 2.4 million since the bill became law,” said Factor, adding that the current ratio of job seekers to job openings is six to one.

David Malpas, top economist and President of Encima Global, blamed the recession, in large part, on bad fiscal and monetary policy choices.....

[Matchett-PI]

Look at the U.S. unemployment rate in the chart below. As you can see, it is soaring. The true rate is now over 20% on its way to 25%.

[Brett66]

An October Rasmussen poll now shows that “83% now view government ethics and corruption as very important, placing it just ahead of the economy on a list of 10 key electoral issues regularly tracked by Rasmussen Reports

Is this the "Beck effect"?

[Leftism is Mentally Deranged]

The media is doing everything it can to hold this number below 10. They will lie if they have to.
Remember what they did when the number of American dead in Iraq hit 3000.

[OB1kNOb]

There's gotta be a song in this somewhere.

How high's unemployment poppa?
He said it's 9.8% high and risin'...

[benjibrowder]

Easy. The U3 numbers are designed that way. U3 tracks those unemployed for three months and taking unemployment benefits whilst supposedly looking for a job. If they’ve been unemployed for more than three months and/or no longer collecting unemployment benefits they are no longer included in the U3 numbers, and shift into the U6 category.

U6 is the true measure of the current state of labor force employment.

[autumnraine]

Took a trip to Tennessee and Kentucky this past weekend. While we were there, hubby tried to apply at some large manufacturing plants (that’s his specialty, large machinery technician). Went to the most industrial area of north Tennessee, Kentucky and Virginia. They had signs on the plant doors, “Not accepting applications at this time. Please do not inquire.”