The Jobless Decade

Forbes ^ | 7/1/09

[FromLori]

The new millennium is on course to hit a grim milestone.

WASHINGTON -- When the Bureau of Labor Statistics reports employment figures Thursday morning, economists expect the U.S. to take a big step toward an ugly milestone.

If, as expected, 363,000 jobs were eliminated last month, it will mean 131.8 million people are working in the U.S.--the same as May of 2000. If another million jobs disappear by the end of the year--likely, without unexpected improvement--an entire decade of employment gains will have been wiped out. In January of 2000, there were 130.8 million jobs in the country. "It's not that those jobs weren't needed. The labor force has grown by nearly 13 million people," says Heidi Shierholz, an economist for the Economic Policy Institute.

Recent data "paint a picture of a gradually healing economy that is in the loosening grip of a major recession," says Stuart Hoffman, the chief economist for PNC Bank. He pointed out that a major index measuring manufacturing in the U.S. improved for a sixth consecutive month; that the most-watched home price index showed that while home prices are still falling, they are doing so at a slowing pace; and that an index of pending home sales has been stable above its lows.

[combat_boots]

“an entire decade of employment gains will have been wiped out”

Let me be the 1st to say Bush’s fault.

[Dixie Yooper]

Let me be the 1st to say Bush’s fault

And let me the the first one to say;

"Are you better off now than you were 6 months ago?"

[Tarpon]

shhh ... the time isn’t ready.

When you can’t stop the enemy advance, fight the good fight, but prepare an ambush, and take them down.

There are plenty of Carterisms to be recycled for Colonel Obama.

[Don Corleone]

And let me the the first one to say;

"Welcome to the new 1984 slightly delayed but here now and thriving.

[mamelukesabre]

So, we should have the bad news in about...what...12 hours?

[Arthur McGowan]

Fortunately, Obama has saved TWICE as many jobs as that, so we’re really ahead.

[Cicero]

Well, uh, when the history of this great depression is written, I imagine that the “jobless decade” most likely will be 2010-2020.

[headstamp 2]

Yes, but does this take into account employment at government windmill factories?

[motor_racer]

Europe’s socialist governments have delivered 12-15% structural unemployment for years. Obama is just playing catch-up. Socialism cannot become entrenched without an entrenched dependent class.

Ironically, Europe is finally showing some signs of throwing off this stupidity.

[Wuli]

How many illegals are in the country and how many of them are working and how many citizens could fill their jobs if they left?

[FromLori]

Millions of them DEPORT THEM NOW!

http://www.reuters.com/article/newsOne/idUSTRE55T7TU20090701

http://www.americanpatrol.com/

[jiggyboy]

Don’t forget the H1B’s too.

[Dixie Yooper]

Ironically, Europe is finally showing some signs of throwing off this stupidity

I guess when the Democratic run government of the U.S. copies what you are doing, it's not so flattering...

[KC_Conspirator]

Obama job loss program called green shoots.