Category Archives: Unemployment

Initial jobless claims rise 17,000 to 474,000

How’s that hopety dopety change working out for ya? With total jobless claims now topping 10 million, the unemployment situation is not looking any better. Last week Obama went out and flashed those big pearly whites, you know the ones that make him a good politician, and told people that the unemployment situation was improving based on the 11% of new claims filed are down from a year ago. But wait…what he didn’t read off of the teleprompter was that continuing claims are up 31%. Now, if you are an Obama supporter and just drool over his eloquence without paying any attention to the real meaning, I’ll try and explain what that actually means. It means that fewer jobs were lost, but once they are lost, it takes a much longer time to find a new job. Remember those old black and white depression-era photos? Well history is repeating itself. Yep, I guess that old stimulus tax that Joe (don’t mess with Joe) Biden says is working exactly the way it was designed to is really helping. Riiight.

Obama's economy

WASHINGTON (MarketWatch) – The number of people filing claims for state unemployment benefits rose by 17,000 to a seasonally adjusted 474,000 in the week ending Dec. 5, while the total number of people claiming benefits of any kind topped 10 million, a sign of very sluggish hiring, the Labor Department reported Thursday.

First-time claims — which measure new layoffs — rose for the first time in six weeks in the week after Thanksgiving. Economists surveyed by MarketWatch had expected initial claims to fall to about 450,000.

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http://www.marketwatch.com/story/initial-jobless-claims-rise-17000-to-474000-2009-12-10-83100

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Filed under Barack Obama, Joe Biden, Unemployment

Obama’s Planned Jobs Summit Faces Harsh Stimulus Reality

Dear President Obama,

Here’s a little reality for you. If you and your administration knew anything about creating jobs , you would have done it by now instead of holding a phony jobs summit as unemployment is at 10.2%. First, government doesn’t create jobs…except government jobs that is. Second, if you continue to tax the wealthy and small business owners, unemployment will continue to rise because they will not be able to afford to keep their employees. Third, GET OUT OF THE WAY! You are the cause of this situation. Stop blaming the “former administration” and just back away from these destructive job-killing bills. Either you are doing this on purpose or you are completely ignorant of how the economy actually works? Which one is it Mr. President?

Sincerely, your friends at ConservativeThinkers

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President Obama’s announcement came with unemployment at a 26-year high of 10.2 percent despite the president’s repeated touting of all the administration’s efforts to create jobs.

President Obama’s announcement Thursday of a December jobs summit aimed at synching job growth with massive government spending has provoked cynicism among critics who believe the president is more interested in burnishing his reputation than tackling rising unemployment.

“I think the purpose of the summit is basically just public relations, is to try and convince people that the administration is doing a good job,” Harvard economist Jeff Miron said.

Obama’s announcement came with unemployment at a 26-year high of 10.2 percent despite the president’s repeated touting of all the administration’s efforts to create jobs.

“We’ll gather CEOs and small-business owners, economists and financial experts, as well as representatives from labor unions and nonprofit groups to talk about how we can work together to create jobs and get this economy moving again,” he said Thursday.

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http://www.foxnews.com/politics/2009/11/12/obamas-planned-jobs-summit-met-cynicism/?test=latestnews

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Filed under Barack Obama, Unemployment

U.S. jobless rate climbs to 10.2 percent – Change we can believe in?

NOT ACCEPTABLE! With unemployment now hitting 10.2%, the Democrats in Congress have the nerve to push through healthcare bills as well as cap and trade bills, both which the people of the country do not want. How’s that hope & change thing working out for you now?

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HOPE & CHANGE

WASHINGTON (Reuters) – U.S. employers cut a deeper-than-expected 190,000 jobs in October, government data showed on Friday, driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years.

The Labor Department said the unemployment rate was the highest since April 1983. It revised job losses for August and September to show 91,000 fewer jobs lost than previously reported.

Analysts polled by Reuters had expected payrolls to drop by 175,000 and the jobless rate to edge up to 9.9 percent from 9.8 percent in September.

The labor market is being watched for signs whether the economic recovery that started in the third quarter can be sustained without government support. The economy grew at a 3.5 percent annualized rate in the July-September period, probably ending the most painful U.S. recession in 70 years.

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http://www.reuters.com/article/businessNews/idUSN0243717320091106?feedType=nl&feedName=usbusinessearly

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New jobless claims rise more than expected to 531K

They rose more than expected? What? I’m speechless, I am totally without speech, I have no speech…

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WASHINGTON (AP) — The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, after falling in five of the past six weeks, as employers remain reluctant to hire even with the economy showing signs of recovery.

The Labor Department said Thursday that new jobless claims rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week. Wall Street economists had expected only a slight increase, according to Thomson Reuters.

Economists closely watch initial claims, which are considered a gauge of layoffs and an indication of companies’ willingness to hire new workers.

The four-week average of claims, which smooths out fluctuations, fell slightly to 532,250, the lowest since mid-January and about 125,000 below the peak for the recession, reached this spring. But claims remain well above the 325,000 that economists say is consistent with a healthy economy.

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http://finance.yahoo.com/news/New-jobless-claims-rise-more-apf-1168669314.html?x=0&.v=1

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Higher jobless rates could be the new normal

So the free market is worthless, the government is our new daddy controlling banks, cars, insurance companies, the mortgage business, soon-to-be- healthcare, and the defacto journalism world, the weather, and now unemployment is at 9.8% with 15 million people out of work. This is the new norm? Really? Should we all sing the Hope & Change song now? Here’s a little flashback for you. Remember this nugget of hope and change? How’s that workin’out for you?

WASHINGTON – Even with an economic revival, many U.S. jobs lost during the recession may be gone forever and a weak employment market could linger for years.

That could add up to a “new normal” of higher joblessness and lower standards of living for many Americans, some economists are suggesting.

The words “it’s different this time” are always suspect. But economists and policy makers say the job-creating dynamics of previous recoveries can’t be counted on now.

Here’s why:

• The auto and construction industries helped lead the nation out of past recessions. But the carnage among Detroit’s automakers and the surplus of new and foreclosed homes and empty commercial properties make it unlikely these two industries will be engines of growth anytime soon.

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http://news.yahoo.com/s/ap/20091019/ap_on_bi_ge/us_vanishing_jobs

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Filed under Barack Obama, Economy, Unemployment