Posted on 03/07/2009 9:23:58 AM PST by Recovering_Democrat
Nonfarm payroll employment continued to fall sharply in February (-651,000), and the unemployment rate rose from 7.6 to 8.1 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Payroll employment has declined by 2.6 million in the past 4 months. In February, job losses were large and widespread across nearly all major industry sectors.
(Excerpt) Read more at link.gs ...
1. The minimum-wage increase the congress passed. Minimum-wage increases ALWAYS lead to higher unemployment.
2. Business is scared to death to take on any extra operating expenses given Obammie the Commie and his anti-free-market and anti-business agenda. Businesses are scaling back, preparing for the worst.
ah, I was referring to the idiots on DU. I agree as time goes on the onion will peel back and reveal its stink for the normals. The normals also don’t watch olberman and maddow as evidenced by their extremely low ratings :)
Note that absolute job loss numbers can not really be compared over time. One must look at the percent of overall employment. On that basis this is not the worst. However, it will very likeley get much worse.
You are right. He’s a socialist, business hater. Big government all the way. We’re screwed. His halo may go away soon.
True
BTTT
Didn't Nancy Pelosi point out that we would lose 500 000 000 jobs per month if the "stimulus bill" wasn't passed forthwith? In that case, Our Beloved Leader has saved somewhere in the neighborhood of 499 400 000 jobs!
I totally agree! I cannot for the life of me understand why unemployed Americans are not screaming this from the rooftops. Send the illegals home and be willing to do the jobs they leave behind. Not only will it help the unemployment problem, but also the health care and educational cost savings will be enormous.
Jimmy Carters legacy is soooo screwed by Obama’s better performance of late.
Obama is doing a fine job of destroying the USA. he would make Saul Anski, his paster and his Kenyan father very happy>
You WILL VOTE OBAMA in 2012 ..... or be reassigned to a re-education camp.
“Nevermind obama was a senator during this crisis’s beginning that maybe he could have helped with if he had spent more than just a day or two in the senate before beginning his campaign for president.”
Now there’s a good point.
“The minimum-wage increase the congress passed. Minimum-wage increases ALWAYS lead to higher unemployment.”
I can never successfully argue this with a lib. What am I doing wrong? It ends up being that I am heartless for wanting a poor father to try to feed his five kids on $6.50/hour because he CAN’T find any other job and he’s too TIRED to go to school or doesn’t have enough money and can’t get full backing to go to school and no one should have to take out loans to go to school. With them, there’s always an excuse.
Yeah, but you’ve not allowed for the number of jobs Obammy’s saved. I don’t know the exact number, but it appears to be at least 25 in Columbus.
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And that would be for exactly 9 months - they will be laid off in December.
Nope. Employers shed jobs at a MUCH MORE RAPID PACE once they knew Hussein was taking office. The speed of the job losses is SOLELY at the feet of the man whom employers KNEW was going to be in charge.
Hussein has done NOTHING to change their minds, you are absolutely right.
One labor statistician who testified before Congress this week said this nation has NEVER SEEN 4 CONSECUTIVE MONTHS in which we have lost 600,000 jobs in each month.
I ask you: What has happened differently in those four months? Hussein’s seizure of power.
The loss of jobs might have continued, but not at this pace.
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Right, and some smaller business owners have told me that it’s the proposed upcoming legislation that had them worried (lifting limits on discriminatory lawsuits, changes to FMLA requirements, state exit visas [ACORN] etc.). Better to get out now while you’ve still got something rather than lose it all later.
Since election day 11-04-2008 DOW Down -31.33%
Since Inauguration Day 01-20-2009 DOW Down -16.76%
The U.S. economy lost 651,000 jobs in February, the fourth month in a row where job losses were near or above 600,000.
The economy has lost 4.4 million jobs since the recession began in December 2007, with more than half coming in the last four months.
The job losses in December were the biggest monthly decline in jobs since October 1949, when half a million steelworkers went on strike for higher pay.
Need to post that Erkel picture here.......:o)
Second, many on minimum wage are very young and do not have enough marketable skills, knowledge, and experience to deserve a higher wage.
Third, those employers who hire minimum-wage jobs do so because (usually) they have a menial, low-skill-level task that needs to be accomplished. They usually create and fill these positions to free up some of their own time or the time of the other more important employees.
Fourth, many employers would like to pay more than minimum wage for these level positions because they don't want to lose those employees to other jobs, but they simply cannot afford to do so. They are not being greedy, they simply can't afford to pay more because of the nature of their business.
When the government forces an employer to pay more for these positions, very often, the only sensible decision is to cut the position. They burden themselves or other employees with the money and invest the money saved somewhere else (sometimes in machinery that helps reduce the labor burden that the laid-off employee alleviated).
Also, if you want to use your liberal friends’ guilt against them, ask this, “Would you rather that half as many people keep their jobs but earn more than they need or that everyone have jobs and make a little less?”
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