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Unemployment claims at 500,000
http://www.cnbc.com/ ^

Posted on 08/19/2010 5:37:12 AM PDT by Red in Blue PA

Santelli on the floor of the exchange.

(Excerpt) Read more at cnbc.com ...


TOPICS: Breaking News; News/Current Events
KEYWORDS: 5500000bucks4barry; arrogantbastard; grindzer0; hamosque; jobs; nationalbaboon; obamanomics; pigbloodinconcrete; pigbloodinmosque; scumbagvacation; soreassobama; unemployment; unexpectedly; vacation; vacation2vacation; vacation4vacation; vacationvacation; zer0cojones; zer0svacation
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To: Red in Blue PA
So the Summer of Recovery continues to un-recover.

Not to worry, Obama is heading for a 10-day vacation in Martha's Vineyard.



==

 


U1-U6 is ...



Source: Bureau of Labor Statistics

61 posted on 08/19/2010 6:06:51 AM PDT by TomGuy
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To: screaminsunshine

The amazing thing is that the past few weeks have had horrible unemployment reports, yet the news at the top of the hour barely covers it.

Perhaps today they will have to as it is past a round number.


62 posted on 08/19/2010 6:07:18 AM PDT by Red in Blue PA (Anti-Gunners suffer from Factose Intolerance)
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To: Red in Blue PA

The Summer of (No) Recovery Show continues.

Stock futures are already heading toward the basement and gold is already up over $4.

It’s gonna be a bumpy ride...


63 posted on 08/19/2010 6:07:28 AM PDT by Bean Counter (Now what kind of a geroo are you anyway?)
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To: Red in Blue PA

I just renewed for the very first time

I been unemployed before, used to find temp jobs to take up the slack, work anything as long as it paid more than unemployment

nowadays, they just arent hiring AS degreed people for design jobs or drafting. Hardly any drafting jobs anyways around here.

I just got a NEW A.S. degree in Electronic Engineering, too. It aint helping.


64 posted on 08/19/2010 6:08:31 AM PDT by RaceBannon (RON PAUL: THE PARTY OF TRUTHERS, TRAITORS AND UFO CHASERS!!!)
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To: TomGuy

FWIW, U6 is what one would need to use to do an apples to apples comparison with the Great Depression.


65 posted on 08/19/2010 6:08:48 AM PDT by Red in Blue PA (Anti-Gunners suffer from Factose Intolerance)
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To: Wyatt's Torch

The job he should have applied for is the Queen of England.

Mostly ceremonial. No real work. Maybe carry a purse.


66 posted on 08/19/2010 6:09:06 AM PDT by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: Red in Blue PA
I recall Nancy Pelosi asking "Where are the jobs, Mr. President?" when Bush was in office.

The economy has lost nearly 3 million jobs under President Bush -- the first President to lose jobs since Herbert Hoover. Clearly, it is time for President Bush to get serious about creating jobs.

"For American workers, the real proof of an improving economy is whether they, their family, and their neighbors can find jobs, afford health care and achieve financial security. Democrats have a plan that would create more than one million jobs without adding one penny to the deficit.

"The President and Congress must act now to ensure that economic growth continues and that jobs are created for the nine million people still looking for work. We should pass the bipartisan manufacturing bill that creates jobs here at home, not overseas. We should expand the child tax credit for working families and extend unemployment benefits. And, we should pass a highway bill that creates jobs." January 2004

http://www.house.gov/pelosi/press/releases/Jan04/BushJobs010904.html

During the entire Bush administration, which I define as February 2001 though January 2009, the economy added a net of 1 million jobs. In the first six months of 2010, the economy added 882,000 jobs, and so she's assuming it will surpass the Bush mark by the end of August.

However, her claim falters on several levels. First, we don't have actual jobs data through August. Second, a lot of the job gains during the first half of this year were temporary Census jobs.

Finally, by starting her analysis this year, she ignores the nearly 4 million jobs that were lost from February 2009 through December 2009. Pelosi would probably argue that Obama inherited a mess from Bush, so 2009 numbers shouldn't count. But Bush inherited a slowing economy, too. There were 1.7 million job losses in 2001. Thus, if we were to give Bush the same pass for job losses during his first year in office, then the economy would have added 2.7 million jobs in his final 7 years -- far more than Obama could hope to add in the next few months.

http://spectator.org/blog/2010/07/24/pelosi-distorts-jobs-data-at-n

67 posted on 08/19/2010 6:09:11 AM PDT by Darkwolf377 (Forget it, Jake. It's Chinatown. -- written by Robert Towne)
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To: Red in Blue PA

The market is going up now on bad news. What does this mean? It has become unrelated to USA economics? Globalism has destroyed us. The worse it gets here the better for huge international companies?


68 posted on 08/19/2010 6:09:57 AM PDT by screaminsunshine (m)
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To: screaminsunshine

Sure....the more people not drawing a paycheck, the more profitable.

Yep, it’s backwards.


69 posted on 08/19/2010 6:12:31 AM PDT by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: EBH
We need to infiltrate the White House Press Corps!

We need to infiltrate the White House Press corpse! They have been dead since before zero became the dim candidate.

70 posted on 08/19/2010 6:14:05 AM PDT by Arrowhead1952 (Remember in November. Clean the house on Nov. 2. / Progressive is a PC word for liberal democrat.)
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To: RaceBannon

I had 6 interviews this year, 3 being very close....but in the end, I still have no job. Very frustrating.

People who are not out in this job market searching for a job simply have no idea how bad it is right now. One simply needs to keep faith, stay active (both mentally and physically), find projects to remain productive (painting around house etc), and have confidence in themselves.

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.


71 posted on 08/19/2010 6:14:05 AM PDT by Red in Blue PA (Anti-Gunners suffer from Factose Intolerance)
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To: Carley

and don’t forget, it is off a much smaller employment base to begin with.

The summer of recovery rolls on.


72 posted on 08/19/2010 6:14:34 AM PDT by Mouton
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To: Daisyjane69

The more profit overseas. The giant sucking sound? We have aborted the USA economy.


73 posted on 08/19/2010 6:14:48 AM PDT by screaminsunshine (m)
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To: Gabrial
Horrible news.

The scale of this is staggering.

Could not agree more. Obama has turned a bad situation into a disaster.

74 posted on 08/19/2010 6:16:40 AM PDT by Loyal Buckeye
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To: jiggyboy
Kudlow is a statist demagogue. That “cash on the sidelines” came from issuing debt.

Please explain the last statement for the not so bright. Thank you.

75 posted on 08/19/2010 6:17:31 AM PDT by quesera (We are so screwed!!)
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To: screaminsunshine
The market is going up now on bad news.

You mean this morning, or in general lately?

I just took a look at premarket, and the stocks I usually track for trend, and it looks like the market will open down.
76 posted on 08/19/2010 6:17:55 AM PDT by ZX12R (IMPEACH OBAMA NOW!)
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To: rhombus
Timing is ironic...no?
77 posted on 08/19/2010 6:18:57 AM PDT by ladyvet (WOLVERINES!!!!!)
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To: Red in Blue PA

He sees the disconnect of the Stock Market from the American economy. Very bad sign. Stocks no longer are based on the USA economy. It is based on the ‘Global’ economy. Job losses here are job gains elsewhere at lower cost.


78 posted on 08/19/2010 6:18:57 AM PDT by screaminsunshine (m)
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To: jiggyboy; AU72
$2 trillion is a lot of money, but I can tell you here about my miniscule contribution to it.

I run a small company that deals in real estate development and financing as a second "career," and I've really scaled back on the number of projects I'm willing to get involved in. Over the last six months I've sold off a number of assets and am now sitting on a lot of cash just waiting to see how things unfold in the next year or two.

79 posted on 08/19/2010 6:22:16 AM PDT by Alberta's Child ("Let the Eastern bastards freeze in the dark.")
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To: screaminsunshine

Untill they decide to crash it


80 posted on 08/19/2010 6:22:20 AM PDT by winodog
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