Posted on 05/08/2009 5:36:58 AM PDT by navysealdad
Unemployment rate hits 8.9%
(Excerpt) Read more at cnbc.com ...
Buncha amateurs.
I live in Forbes list number one small city where it’s hardest to find a job.
This is the cooked number, isn’t it? Where do we see the real deal?
Don’t bother coming to Oklahoma. No jobs, no work, no money here. Nothing but cows, dirt roads, and stinky old o’l wells.
Unemployment rates rose in April for adult men (9.4 percent) and blacks (15.0 percent). The jobless rates for adult women (7.1 percent), teenagers (21.5 percent), whites (8.0 percent), and Hispanics (11.3 percent) were little changed over the month. The unemployment rate for Asians was 6.6 percent in April, not seasonally adjusted, up from 3.2 percent a year earlier.
The black unemployment rate continues to soar--up from 13.3% last month.
My guess is that the "real" number is closer to 14%.
just a guess, or anything to lead you towards that number?
Yep.
Yeah that’s a cooked number. Real unemployment is around 16% I believe, although it’s virtually impossible to find a media outlet that reports this.
And yet, the stock market is reacting as if this is good news.
I fear we’re looking at a vicious pump & dump about to happen. There is nothing rational to support the market, and with our government’s fiscal behavior, a real recovery is impossible.
We simply cannot return to previous levels of pulled-forward consumption based on debt spending. It’s simply impossible, so I cannot comprehend how people are talking about a “recovery”.
“My guess is that the “real” number is closer to 14%.”
The number that’s usually kicked around reflects those receiving unemployment benefits. There’s another number that includes the “underemployed” (those no longer seeking benefits) that’s quite a bit higher.
Not sure how they weed out small businesses and other self employed...
Not high enough.
When it hist 20% we will see people retake the nation .
I am in Galts Valley now and only buy foreign goods.
The sooner it collapses the sooner we can rebuild.
I’m starting to agree with that assessment.
Although I tend to agree, do you have any link to substantiate your claim?
April U6 Unemployment (the real number) 15.8%
15.8% is about right.
Companies have pared down their debt and deadwood. The herd has been culled of bad companies so there could be a reason as to why the market is improving, especially if many stocks are undervalued based on their P/E.
My problem is the opposite. We have a low unemployment rate and hundreds of new jobs are being created every week.
And I cannot get one, no matter how hard I try. And that is with 20+ years in Information Technology and Project Management Certification.
One company I applied for was looking for a PM to move a data center from one city to another. In the past, I ran projects like that maybe 15 times, moving upwards of 1000 servers, all the communications, storage as well as worked with the architects on the buiding design and data center floor plans.
They tell me I don’t have enough experience to move 100 servers.
Then I apply for a position as a Project Coordinator, doing all the admin. They tell me I am overqualified.
I can’t get a job serving coffee at Valero, and that is with a Help Wanted sign on the window.
I think it is time to go into business for myself. This is ridiculous.
That’s a lot of potential hirees for the Obamakorps.
However, the pre-market is up.
Free cars for them in Boston.
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