Posted on 08/01/2010 8:31:55 AM PDT by blam
Spoiler Alert: U.S. Unemployment Is Now Rising, Not Falling
Vincent Fernando, CFA
Aug. 1, 2010, 6:44 AM
I see $2,000. Or maybe $200
Don't look surprised when U.S. unemployment is shown to have increased, later this week:
Bloomberg:
The jobless rate rose to 9.6 percent last month from 9.5 percent in June, according to the median estimate of 57 economists surveyed by Bloomberg News ahead of a Labor Department report Aug. 6. A drop in federal census workers as the population count wound down depressed payrolls by 60,000, the data may also show.
Census-related hiring, and now firing, will be a key driver of the upcoming report:
The Census Bureau said it let go about 144,000 of the people conducting the decennial population count from mid-June to mid-July. It still had about 200,000 temporary workers on staff as of July 17, indicating additional cuts to come that will keep distorting the payroll figures for months.
...
For that reason, economists say private employment, which excludes government jobs, will be a better gauge of the state of the labor market for much of 2010. Employment at companies rose by 90,000 after an 83,000 gain in June, according to the median forecast.
Thus the private employment figure will be the more relevant data point to watch. Hopefully private employment growth doesn't miss expectations.
[snip]
(Excerpt) Read more at businessinsider.com ...
Jobs created is a verifiable fact.
Government jobs are not jobs; they're welfare by another name.
Jobs "saved" is a fiction; a speculation; never verifiable.
Jobs created is a verifiable fact.
Government jobs are not jobs; they're welfare by another name.
Jobs "saved" is a fiction; a speculation; never verifiable.
Jobs created is a verifiable fact.
Government jobs are not jobs; they're welfare by another name.
Jobs "saved" is a fiction; a speculation; never verifiable.
Jobs created is a verifiable fact.
Government jobs are not jobs; they're welfare by another name.
Jobs "saved" is a fiction; a speculation; never verifiable.
Jobs created is a verifiable fact.
Government jobs are not jobs; they're welfare by another name.
Jobs "saved" is a fiction; a speculation; never verifiable.
We should have a Freeper unemployment thread...
And just how long do you think you should be able to collect? Don’t miss understand me, I to was layed off in January 2009, I was off for 15 months. My wife was layed off at the same time and still has not found a job. We collected for that entire time along with COBRA subsidies. All in all we were drawing benefits at a clip of close to 60k a year. My wife is still collecting it even though my current salary is over 90k. I wonder how much longer this country can afford to pay welfare to 100k plus households? We never needed any of it as we have enough savings to retire now, but if I have to pay into the system I’m certanly going to take every nickle I can out.
It never went down, they just used the Census workers to hide it. The media knows this, so this article is one of a series of lies designed to cover for Obama.
Yet they couldn't quite put together the simple facts that he was VP, and the VP replaces the president.
Most of then anyway. After years of poking at them I started to see "Impeach Cheney, Then Bush" bumper stickers.
Ridicule will eventually penetrate even the thickest progressive skull.
Can't spend money you don't have. I know the government can just print more, but if you think you're in a world of hurt now, wait until inflation goes ballistic.
Has anyone tracked the economy, unemployment and the rise of Obama in a single graph since 2007?
To me, the economy started going south as soon as the universe realized that Obama, A.B., U.P. had a remote chance of becoming president.
July, 2010 was a month to remember forever here too. But we are not alone.
A socialist America isn’t a good thing.
How did I know it was coming? Simple. When all of the sudden no one above you in the chain of command will make eye contact with you when they talk to you, you know something bad is about to happen.
More than one ex-boss remains utterly convinced that someone tipped me off. Someone did. It was them.
You raise a good point with family double dipping unemployment.
I look for the same signals. Thankfully the operations division chief opened the door for me the other day.
That happened to me once, only it was 600 of us that were told, "so long". Luckily someone filed suit and they had to let us work for another month AND give us severance pay. We all had in our contracts(individual contracts)that they had to give one months notice and severance pay in the event they shut down completely. They were trying to pull a fast one and hoped we wouldn't fight it.
It’s always fun to remind your democrat friends that the average unemployment rate over the eight-year period that GW Bush was president, which included the 911 terrorist attack-induced recession, was 5.27%.
Obama’s going to finish his presidency with the highest average unemployment rate in history.
Yeah. There should be a 'marriage penalty' for couples who both lose their jobs.
A woman shouldn't be working outside the house anyway.
And why is she wearing shoes???
It can be.
For tiny insignificant countries in the larger scheme of things.
Sweden, Denmark, Holland.
Or essentially criminal societies like Venezuela, Mexico, with their own brand of benign neglect; the death rate there, apart for the drug wars is never reported, and problably impossible to identify.
For a nation of 310,000,000 people, which developed through rugged individualism, initiative, innovation and a moral compass ----- never in a million years.
The perverts, the parasites, the politicians (but I repeat myself,) the eternally neurotically oppressed, can't outnumber the real workers. At least not yet.
When foreclosures nationwide are the rule, rather than the exception in addition to unemployment and welfare, the powder keg WILL go off. And it won't be pretty.
What's the old American assertion?
"I would rather die standing and free, than on my knees in chains!"
I choose the free man.
He doesn't have papers but, plenty of SS numbers, though.
bttt
60K of unemployment does not cut it for me regardless of which sex is getting the most unemployment. Like the poster said, it was not needed anyway. Yes, when the nation’s money is running out, unemployment should be need based.
So, you support income redistribution?
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