Posted on 06/05/2009 5:46:14 AM PDT by anniegetyourgun
WASHINGTON (AP) -- With companies in no mood to hire, the unemployment rate jumped to 9.4 percent in May, the highest in more than 25 years. But the pace of layoffs eased, with employers cutting 345,000 jobs, the fewest since September.
The much smaller-than-expected reduction in payroll jobs, reported by the Labor Department on Friday, adds to evidence that the recession is loosening its hold on the country. It marked the fourth straight month that the pace of layoffs slowed.
(Excerpt) Read more at finance.yahoo.com ...
Wow, I was saying July, but you might be right.
My prediction was exactly the same! Everyone thought I was nuts.
But, great minds think alike!
:)
Ok... so if the 4% during the Bush years (same as the Clinton years) was the worst since the Great Depression, how is it the State run media is missing this now?
I’m wondering if you’re wrong: it may very well be that we’re at 10% already and just looking at fudged numbers.
It’s am improvement because it’s not 35%. C’mon kiddo.
This is like New Math. Obama-math!
Layoff slows because how many more folks can be laid off! Either the company is no more, or running a skeletal crew!
We’re prolly closer to 18%. When the report is out there, look at the U-6 numbers.
This is a time when jobs in construction and seasonal work should double the employment statistics. Instead, they make the claim that all it has done is slow the losses, that this is some kind of indication that it is turning around.
they said that last March, and have kept repeating it every month. Yet we are at record job losses by the numbers and will continue to keep losing. Under the damage the Democrats have done to this economy, it simply cannot come back.
All the “Porkulus” and Trillions of tax/Loan dollars they have already spent, have only slowed down the rate of economic decay. The Apocalypse will only come down much harder as a result of what these fools have created.
Most on FR think I’m nuts!
But millions of jobs were saved that very month! /sarc....
Easy. Because the current climate is entirely Bush's fault!
My next prediction? The Obama folks will tell the bureau to omit the auto-related layoffs this month from the data - calling it an anomaly. Expect none of that data in the June data that comes out in July.
“But millions of jobs were saved that very month!”
And that’s exactly how the state-run media will treat it.
Ok... so if the 4% during the Bush years (same as the Clinton years) was the worst since the Great Depression, how is it the State run media is missing this now?
The media will say it’s the best economy EVER.
1) 10% unemployment= workers on self finding sabbatical
2) GNP negative growth= USA spreading wealth to rest of world
3) Private industry failing = creation of MORE secure government jobs
4) Home for-closures = Americans downsizing to save environment
5) Investments declining= less risk state controlled economy
Government math. Like when my local city budget comes up for a vote and they tell us they cut it 5%, even though it is 5% more than last year’s budget.
This is good economic news and shows the natural resilience of a free market economy. The take on it from the socialists in power will be that they are not trying hard enough to wreck it, and will promise [amongst themselves of course] to try harder. My fear is that any recovery will be shaky, and will be stymied when Bernanke raises interest rates in response to rising inflation. Then as inflation rises furthur with all the new money in the system [and they won’t stop printing it, since its 0’s spending cash], raising rates will have little effect on a sluggish economy.
You just described the economy under the Berns-era Fed to a T (Bill). I have a fear that we will see a rerun of the 1970s, with blips of economic growth caused via an increase in the money supply, followed by interest rate hikes that stunt growth, followed by an expansion of the money supply, etc.
They will use this propaganda to pass their agenda later this year, (Global Warming Legislation, cap & tax, vehicle emissions taxes, etc,.) which will guarantee at least 15% unemployment by December.
Then the States will whine because they are running out of money for food stamps and Unemployment “benefits”, so Obammy will redistribute more greedy Corporate wealth to pay for it, which will cause even more layoffs, etc,. then will come the VAT tax, which will make consumer goods on all levels much more expensive, which will make retail sales drop like a rock. There will be small business closings, shopping malls will become ghost towns, Americans will barely be able to afford groceries.
But after all, we will have government health care!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.