Unemployment claims at 500,000

http://www.cnbc.com/ ^

[Red in Blue PA]

Santelli on the floor of the exchange.

[John W]

Well, we’ll see how this day ends. Seems like for quite some time this gang has “managed” to avoid the spectacularly bad day even when it should have been. We’ll see.

[Reverend Wright]

MNJohnnie wrote: “Can either of you explain this to me. We see these stories every month. 1st time jobless claims come in between 434,000 and 500,000. Then you seem new job numbers that show less then 200,000 new jobs being created. Does this mean there is net job loss still going on in the overall economy?”

Johnnie, the 200K (more recently 70K) employment increase that the BLS reports every month is a net figure. There are approx 2 million (4 * 500K) jobs lost every month. There are approx 2.1 to 2.2 million new jobs added every month.

The BLS publishes quarterly data on this. Unfortunately, because of time lags they only just released 2009Q4.
http://www.bls.gov/news.release/cewbd.nr0.htm

If you scroll down half way to Table A, it shows 6.3 million gross job gains, for 2009Q4, 6.5 million gross job losses for the 4th quarter, and 200K net jobs lost (65,000 per month, which is about what the revised BLS monthly employment reported for Oct-Dec 2009)

[Red in Blue PA]

[Gabrial]

“But we have been told over and over again by the liar in the white house and his minions in the press how the economy is getting better every day.”

As they say here in Texas...

"Don't piss on my boots and tell me its raining."

[Red in Blue PA]

An obama vacation thread......sounds like a great idea. (though perhaps the servers would crash because of it)

[algernonpj]

And to those here who claim I am living off govt teat, I reply that I am recouping some of the Soc Security I paid into which I will never receive.

I would put it in even stronger terms; you are recouping some of the money confiscated from you. Better you than an illegal, a 'guest worker', or a brand new legal immigrant.

[Red in Blue PA]

I would go one step further. During this time, we should cut off all foreign aid. Why should we be paying out to foreign dictators when so many here are suffering?

[algernonpj]

I rarely agree with Donald Trump, but recently he had an interview with Neil Cavuto where he echoed what I have been saying all along. Namely, that our political leaders craft the worst possible trade deals for this country.....they really could not be any worse.

On this, Trump was spot on.

Part of the reason 125,000 new legal workers enter the country each month is found in the 'Free Trade' agreements that over ride US immigration law.

[wmfights]

Joe Kernan challenged him, asking, why we need a prgram.

I saw that. The point he was making was totally lost on the 0 supporter. He was arguing jobs are created by business. If those in control are anti business don't expect to see jobs created.

[algernonpj]

Love that pic!

[onemiddleamerican]

Holy cow! I was totally not expecting this news!
/sarc

[Red in Blue PA]

Just wait.

Dems will spin this as being not as bad as the 670,000 weekly rate of 16 months ago.

It’s coming.

[John W]

Hanging around -175, not seeing the usual pull his chestnuts out comeback YET.

[JerseyHighlander]

http://thepage.time.com/transcript-biden-interview-with-charlie-rose-june-2-2010-full-transcript/

For those who can stomach it:
Transcript: Biden Interview with Charlie Rose June 2, 2010 — Full Transcript
The Charlie Rose Show Session One
Guests: Joe Biden
Charlie Rose:
Vice President Joe Biden is here. He is at the center of the administration’s foreign and domestic policy decisions. A host of grave issues confront the administration at this moment from the Israeli raid off the Gaza Coast to the oil spill in the Gulf Coast. On Tuesday Attorney General Eric Holder announced a criminal investigation into the spill, which is now the worst in U.S. history. It is the latest move by the White House to be more aggressive in its response to the disaster. Meanwhile the Israeli raid has heightened tensions with allies like Turkey and could threaten the already fragile proximity talks between Palestinians and Israelis. The incident also led to the cancellation of a planned meeting on Tuesday between President Obama and Israeli Prime Minister Benjamin Netanyahu. Vice President Biden joins me now to talk about all of this. He is in New York today to discuss the government’s efforts to create jobs and improve infrastructure. I am pleased to have him back at this table. Welcome back.

[John W]

Holder trying to help distract, playing the indict Roger Clemens card.

[Rational Thought]

Shhh...Don't give them any ideas....

[MNJohnnie]

Thanks!

[MNJohnnie]

Thanks!

[Chaguito]

The downturn has slowed...

[edpc]

Can't make that deal since I don't get a paycheck or collect UC. I was the odd man out as a younger man because I didn't go out much, have a great car, cable tv, serial date, etc......

Hence....I was prepared. Doesn't make me smarter than anyone else.....just less dependent and stressed.