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 ...
Small problem there...as an employee you don't pay into the system. UI is paid totally by the employer!
Your statement of if I have to pay into the system Im certanly going to take every nickle I can out does not sound like It's all part of the compensation that is traded for my efforts on their behalf. That statement would be true. Thank you for your explanation.
The republicans tell the democrats to pay for it. Thats all.
____________________________________
It’s called “Pay-as-you-go” or “Paygo”. Pelosi touted it in the past but now she “forgets”.
They are not ignoring, they are obfuscating.
They muddy the waters to obscure the truth.
But like the good congressman said..... they lie.
They are not ignoring, they are obfuscating.
They muddy the waters to obscure the truth.
But like the good congressman said..... they lie.
Interesting idea... but it would soon degenerate into a flame war between the "holier than thou" crowd that thinks anyone on UI is scum, and those of us who are, or soon will be surviving on it.
BUMP! Plan for the worst while hoping for the best! :)
Are you looking for a job?
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