Unemployment rate at 8%

[FUCK THE POLICE]

Do you think it's going to bottom out around here? Or could those lovely double digits be in our future?

http://www.newsday.com/services/new.../news/ny-bzjobs076060508mar07,0,5660062.story


Unemployment rate jumps to 8.1% in U.S.

BY CARRIE MASON-DRAFFEN; James Bernstein
March 7, 2009

The U.S. labor market continued its downward spiral last month, losing 651,000 jobs and making it harder for the unemployed to find work.

The latest losses pushed the unemployment rate to 8.1 percent - the highest in more than 25 years. The rate rose from 7.6 percent in January and 4.8 percent in February of last year, according to U.S. Bureau of Labor Statistics data released Friday.

Revisions of previous monthly reports paint an even grimmer picture of the job market. For example, December's job loss was revised to 681,000, from the 577,000 originally reported. Since the recession began in December 2007, the United States has lost about 4.4 million jobs, more than half in the last four months.

A closer look at the recent data reveals bad news all around for job seekers. The number of unemployed workers now totals 12.5 million, compared with 7.4 million a year ago. The number of long-term unemployed, those out of work for at least 27 weeks, has swollen to 2.9 million, up 1.6 million in the last year.


More at link...

 

[Cancel5]

Do they still predict it will reach double digits?

 

[Topspin]

Most economist predict double digits. I don't see at this point what hiring is there'd to stop it. Wierdly the stimulus may kick in after we start recovery any way.

 

[SmarterthanYou]

I predict unemployment will hit 14% as a bottom.

 

[Topspin]

I'll go with 12.5% in the fall

 

[Cancel10]

I'm predicting it will climb to 11% by August.

Wierdly the stimulus may kick in after we start recovery any way.

The so-called stimulus has already "kicked in", and is causing tremendous harm to the economy.

Recovery is inevitable, but it will occur in spite of the porkulus bill, not because of it.

 

[FUCK THE POLICE]

I'm predicting it will climb to 11% by August.



The so-called stimulus has already "kicked in", and is causing tremendous harm to the economy.

Recovery is inevitable, but it will occur in spite of the porkulus bill, not because of it.

That's kind of funny. Tax cuts and infrastructure projects that haven't even been put in place yet doing "tremendous harm to the economy".

 

[Topspin]

Rush said so, thefore Tabasco goubled up.

 

[NOVA]

If it goes higher you can blame Bush...I'm sure you will...

And if goes lower you can and will givee the credit to Obama...

Either way ...........its a win win proposition for the Dims.....

 

[Topspin]

As observed from the bush tax cut clan

 

[Cancel3]

The emplyment rate is 92%.

That sounds much better.

 

[Damocles]

The emplyment rate is 92%.

That sounds much better.

Remember when everybody was telling us that the reason that GWB's was so low is because everybody had given up looking for a job?

You can see the difference at the job fairs 'round these parts. They went from desperately seeking applicants to overwhelming crowds. 92% employment doesn't sound very good to me.

 

[DamnYankee]

...92% employment doesn't sound very good to me.

Its great if your a Marxist bent on pushing your agenda. Didn't Rahm Emmanuel say that this is a great opportunity?

 

[Jarod]

Its going up at least until the summer.

 

[Obfuscate]

around 10%, bad part is it will stay there for many years.

 

[uscitizen]

The "Golden Age" of America is past.

 

[Topspin]

We WILL come back bigger and better.

 

[DamnYankee]

We WILL come back bigger and better.

Only after a violent revolution, when many Democrats lie dead.

 

[Topspin]

wow what a drama queen

 

[Damocles]

The "Golden Age" of America is past.

We haven't even got there yet.