Fears about 'jobless recovery' up pressure on Democrats

MarketWatch ^ | Oct. 23, 2009 | Robert Schroeder

[mdittmar]

Republicans trying to use grim job outlook to their advantagePresident Barack Obama says his administration won't rest until everybody who's looking for work can find a job. But if he wants his party to keep the maximum number of seats in mid-term congressional elections, it looks like he and lawmakers will have to put in some overtime.

On Thursday, Obama's economic adviser Christina Romer told Congress the administration agrees with other analysts that the economy will grow in the third quarter, and beyond. Even so, she said, "unemployment is likely to remain at its severely elevated level," and noted expectations that few jobs will be added through the third quarter of 2010. See earlier story.

The timing could hardly be worse for Democrats in Congress: all House lawmakers and 36 senators are up for election in November 2010.

Members of a new president's party often lose seats in the first election after he takes office, and the eye-popping nationwide unemployment rate of 9.8% can only compound the scenario. In some states where Democrats are vulnerable, it's grimmer. In Nevada, home to Senate Majority Leader Harry Reid, the jobless rate is 13.3%.

[mdittmar]

We have 1 year to find Conservatives to vote for.

Vote out those who aren't.

[jessduntno]

JOBLESS Recovery? You mean DEPRESSION?

[TwelveOfTwenty]

and the eye-popping better than expected nationwide unemployment rate of 9.8%

There, fixed it for the MSM.

Honestly, if 9.8% unemployment is a good reason to vote in the other party, doesn't that make us look stupid for voting out the GOP in 2006 when unemployment was at 4.5%.

[Plutarch]

Watch how the jobless rate hovers at 9.8-9.99 per cent until November. The Commerce Department will not bring themselves to report double-digit unemployment. More and more of the jobless will be labeled as 'discouraged.' and not count in the unemployment rate.

Survey taker (to jobless adult): "You haven't really looked for work in the last month, have you?"

[JoeFromSidney]

Every recovery I can recall in the past 30 years or so has been labeled a "jobless recovery." No mystery there. When things start looking up, employers would rather put people on overtime than hire new and untrained workers. Only when employers are confident that they can afford new workers will the number of employed workers increase.

[unafraid]

With unemployment rates approaching double digits, and absolutely no economic initiatives focused on job creation, it is nonsense to speak of near-term recovery. Economists claiming that we have ‘turned the corner’ should have their credentials revoked.

[mwl8787]

this Administration has declared war on capitalism. It is as simple as night following day that more jobs will be destroyed. We have elected an economic illiterate, an Empty Suit who has never worked a day in his life in the private sector, never met a payroll, and publicly stated that profits are part of business overhead. This Administration despises free markets and wealth creation; and stupidly believes that government spending is an alternative mode to creating wealth. We will be lucky to live through these 4 years of Hell.

[magooey]

Republicans trying to use grim job outlook to their advantagePresident Barack Obama says his administration won't rest until everybody who's looking for work can find a job.

I guess that means he is President for Life!

[remaxagnt]

jobless recovery and my wife is half pregnant! morons these people are

[OrangeHoof]

The timing could hardly be worse for Democrats in Congress.

Huh? Worse timing would be approximately a year from now when the debt is climbing and unemployment is still creeping upward.

Not to mention, the Democrats could have fixed this situation a long time ago if they had voted to CUT TAXES and save jobs rather than pushing their socialist neo-com agenda. When your whole approach is to choke capitalism, it hardly seems surprising that unemployment would still be unacceptably high.

[upchuck]

From the article:

On Wednesday, House Speaker Nancy Pelosi, D-Calif., convened a forum of economists on Capitol Hill to talk about job-creation and ensuring that the economy doesn't slip back into recession. Ideas included:

• extending jobless benefits
• a massive tax cut
• letting the unemployed keep their COBRA health insurance longer
• a massive tax cut
• a job tax credit
• a massive tax cut

Interesting that these "economists" couldn't come up with a single idea that that doesn't further rape the taxpayer.