Posted on 09/03/2009 10:31:41 PM PDT by FromLori
The economy is showing consistent signs of improvement, but probably not enough to stop employers from cutting jobs or to keep the unemployment rate from rising.
The Labor Department is expected to report Friday that the jobless rate increased to 9.5 percent in August, from 9.4 percent in July, as employers cut 225,000 jobs. The employment report will follow other recent data that shows the economy is pulling out of the worst recession since World War II. A trade group reported Tuesday that the manufacturing sector grew in August for the first time in 19 months, while home sales have increased for several months.
But the economy isn't expected to grow strongly enough this year to persuade companies to ramp up hiring. Most economists expect the unemployment rate to top 10 percent by early next year.
"We have a very long, painful healing process ahead," said Bruce Kasman, chief economist at JPMorgan Chase & Co. "The good news is we're starting it, the bad news is we need much faster growth" to bring the employment rate down.
(Excerpt) Read more at news.yahoo.com ...
Too bad the “Stimulus” trillion dollars was not spent on stimulating the economy.
With the average work week at a record low of 33 hours, it will be eons before anyone is hired.
How can the economy be improving if people are still losing their jobs? Must be Obamanomics.
I think its like beer math, or something...
I was wondering if I just lost it or others would see the same thing I saw. Good to know people on here by and large have some common sense left.
As long as Hussein is in the white hut and Reid and Pelosi are in Congress - why would any business hire anyone? Very very few companies are hiring.
Technically GDP includes government spending. No growth. Negative growth. All debt, but it seems to be a common thread in these ‘turning the corner economically’ spiels. Like losing hundreds of thousands more jobs, but the unemployment rate goes down...
Yeah, in the summer.
It does that every year.
Epic vocabulary fail.
Well look on the bright side bankers and investors are starting to recover from the loss of one of their summer homes.
I had to laugh even though the reality is not funny.
I hope they keep this lunacy up.
That's exactly what I thought.
This is a bunch of leftist double-talk.
Ok, let’s see here. Economy is 67% made up of consumer spending. Reuters says economy is improving while reporting more jobs will be cut which in turn will cause consumer spending to further contract.
Would this story make more sense if I drank some Kool Aid?
And don’t forget these home sales include foreclosures being snapped up at auction by investors hoping to turn a quick profit at some later date..
Until this nation begins to rebuild its manufacturing infrastructure, producing products domestically instead of borrowing money to import them, there will be no recovery in the job market. Globalization and “free trade” policies of the past 30 years have been a disaster for the US economy and the American middle class.
We built the strongest economy in the world by producing products primarily for our domestic market. We have become a debtor nation by sending the manufacturing jobs overseas and borrowing money from the new manufacturing powers so we can buy the products we used to make.
The phrase “jobless recovery” has been tossed around since the 90s, the WSJ blog has a good article talking about this phenomenon in the last few years and comparing it to the other “jobless recoveries” of 2001 and 1991.
http://blogs.wsj.com/economics/2009/06/08/another-jobless-recovery/
Obama will ensure that key jobs are saved....
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