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Where's The Stimulus baracko*

TexasBred

Well-known member
Unemployment Rates Hits 9.8 PercentBy CHRISTOPHER S. RUGABER , AP
posted: 1 HOUR 34 MINUTES AGOfiled under: Financial CrisisPrintShareText SizeAAAWASHINGTON (Oct. 2) - The U.S. unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report is evidence that the worst recession since the 1930s is still inflicting widespread pain.
Persistently high unemployment could weaken the recovery as consumers, concerned about their jobs and incomes, restrain spending. Consumer spending accounts for about 70 percent of the U.S. economy.
The Labor Department said Friday that the economy lost a net total of 263,000 jobs last month, from a downwardly revised 201,000 in August. That's worse than Wall Street economists' expectations of 180,000 job losses, according to a survey by Thomson Reuters.
The unemployment rate rose from 9.7 percent in August, matching expectations.
If laid-off workers who have settled for part-time work or have given up looking for new jobs are included, the unemployment rate rose to 17 percent, the highest on records dating from 1994.
More than a half-million unemployed Americans gave up looking for work last month. Had they continued searching, the official jobless rate would have been higher.
All told, 15.1 million Americans are now out of work, the department said. And more than 7.2 million jobs have been eliminated since the recession began in December 2007.
Many analysts expect the economy grew at a healthy clip in the July-September quarter, technically ending the recession, but few think the recovery will be strong enough to lower the jobless rate. Most economists expect the rate to top 10 percent and keep climbing.
The economy has received a boost from the Cash for Clunkers auto rebate program and other government stimulus efforts, but many economists believe that growth will slow in the current quarter and early next year as the impact of those programs fade.
Federal Reserve Chairman Ben Bernanke said Thursday that even if the economy were to grow at a 3 percent pace in the coming quarters, it would not be enough to quickly drive down the unemployment rate. Bernanke said the rate is likely to remain above 9 percent through the end of 2010.
Hourly earnings rose by a penny last month, while weekly wages fell $1.54 to $616.11, according to the government data.
The average hourly work week fell back to a record low of 33 in September. That figure is important because economists are looking for companies to add more hours for current workers before they hire new ones.
The uncertainty that surrounds the recovery has made employers reluctant to hire. The Business Roundtable, a group of chief executives from large corporations, said earlier this week that only 13 percent of its members expect to increase hiring over the next six months.
While job losses have slowed since the first quarter of this year when they averaged 691,000 a month, the cuts actually worsened last month in many sectors compared with August.
Construction jobs fell by 64,000, more than the 60,000 eliminated in August. And service sector companies cut 147,000 jobs, more than double the 69,000 in the previous month. Retailers lost 38,500 jobs, compared to less than 9,000 in August.
Temporary help agencies eliminated 1,700 jobs, down from the previous month, but still a sign of labor market weakness. Economists see temporary jobs as a leading indicator, as employers are likely to hire temp workers before permanent ones.
Copyright 2009 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
2009-10-02 06:14:51
 

hypocritexposer

Well-known member
And if factory orders are any indication, it's going to get worse.

U.S. factory orders post first drop since March
Fri Oct 2, 2009 10:03am EDT
WASHINGTON (Reuters) - New orders received by U.S. factories posted their first drop in five months in August, government data showed on Friday, going against Wall Street expectations that they would rise.

Orders fell 0.8 percent after rising 1.4 percent in July, which was originally reported as a 1.3 percent increase, according to the Commerce Department. Analysts polled by Reuters were expecting them to gain by 0.3 percent. The drop was the first since March, when they fell 1.9 percent.
 

Buckeye

Well-known member
Yet, Dear Leader continues to refuse any help to the nations largest employers... small businesses. They got squat from the "stimulus" package and their owners will get nothing but screwing by this administration by way of taxation and regulation. The fewer enterprises there are, the fewer Dear Leader will have to take over, so he wants them to fail.

I still can't believe so many people were duped into electing this loser. Is this REALLY what they voted for? The people of Germany didn't vote for the holocaust, but that's what they got... because they let themselves be blinded by speeches promising HOPE and CHANGE.

If I had voted for Barack Hussein Obama I think I'd feel so guilty right now I'd just slit my wrists. Ok, that's pretty extreme. Maybe I'd just run around internet chat boards having knee-jerk reactions to imaginary conspiracies. Yeah... that's more likely.
 

MoGal

Well-known member
I went to the store the other day and was going to get a potato masher. The 2 they had were both imported from China so I've decided I'd rather go yardsaling and get one than put anymore money into China or any other country. I'm to the point I put it back, there isn't anything I need that is imported. China says they are an "economic power" and need to be recognized as such. Who made them rich??? American jobs went over and Americans became unemployed........... I'm sick and tired of transferring the wealth from the west to the east.

Hopefully people will wake up: the Federal Reserve decides who has a job, or doesn't have a job, who has a home or doesn't have, and how much you pay for it and how much interest you pay........... all decided by them how much you pay for anything all based on inflating or deflating the money supply............... and the people have no control at all because these are private individuals who own the central banks..... and they are greedy and they want to control it all even down to the last morsel of food you eat and the last drop of water.

I hear they've set a court date of Jan, 2010 to hear about Obama's birth certificate........ why do they keep kicking it down the road....

A California judge today scheduled a trial for Jan. 26, 2010, for a case that challenges Barack Obama's eligibility to be president based on questions over his qualifications under the requirements of the U.S. Constitution. If the case actually goes to arguments before U.S. District Judge David Carter, it will be the first time the merits of the dispute have been argued in open court, according to one of the attorneys working on the issue. In a highly anticipated hearing today before Carter, several motions were heard, including a resolution to long-standing questions about whether attorney Orly Taitz properly served notice on the defendants, which she had.

http://www.gunslot.com/pictures/huge-news-federal-judge-carter-sets-trial-date-obamas-eligibility
 

Texan

Well-known member
MoGal said:
I went to the store the other day and was going to get a potato masher. The 2 they had were both imported from China so I've decided I'd rather go yardsaling and get one than put anymore money into China or any other country. I'm to the point I put it back, there isn't anything I need that is imported. China says they are an "economic power" and need to be recognized as such. Who made them rich???
Who made them rich? Consumers who cared more about price than origin. Consumers who thought they were getting a bargain when they went into "dollar stores" and other Chinese gyp joints. Consumers who didn't care when Wal-Mart shifted from being proud to sell products made in the U.S. into a company that was more concerned with offering the lowest prices. Those consumers thought they were getting a bargain, so they didn't really care about origin.

If more shoppers were like you, MoGal, we would have kept more of our money at home. Consequently, we would have kept more of our jobs at home, too.
 

MoGal

Well-known member
Yes, Texan, the consumers are to blame. But then, American companies closed up here and went to the East and hired those workers at slave wages. ((Edited to add: wages have dropped in the last 30 years and have not kept up with the cost of living, so consumers, in all fairness, had to look for cheap to stretch their money as far as it could go...... and of course it's now biting them at their heels because of no jobs)))

That's why we need tariffs on incoming goods because there is an inequity in pay range........ nobody here in the USA can work for 50 cents an hour and I just do not believe that's considered middle class in China either. The ones who made 200% profit (or more) are the corporations.......

Hopefully, Americans will wake up and quit buying imports because its taking jobs from here............. a couple of years ago Walmart tried to implement self checkout lanes in the local store........... several times, on different occasions, they tried to get people to use it saying they would show them how........ I'd look em in the eye and say, "you're taking someone's job and I expect the service of having someone check me out and bag it. The only way I'm checking myself out is if I get a 20% discount."

It didn't go over here, and they finally made them into regular check out lanes.
 
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