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Unemployment rose this month. Now at 9.6%. Summer of Recovery!

nick1985

nick1985

Lifer
New employment figures released Friday fueled Republicans' call for President Obama to replace his economic team and "change course," as the president sought to put the best face on what many say is just more evidence of an economy stuck in neutral.

The unemployment rate rose in August for the first time in four months as more people entered the job market looking for work and struggled to find openings. The rate rose from 9.5 percent to 9.6 percent.

http://www.foxnews.com/politics/201...mbs-percent-private-firms-add-workers-august/



Its ok though, Obama PROMISES a new jobs initiative! HURRAY WE ARE SAVED!

http://www.cnn.com/2010/POLITICS/09/03/obama.economy/index.html?hpt=T2





Going to be destroyed in November. That summer of recovery BS they had Biden parading around was the nail in the coffin.
 
Leave it to the Obama haters to ALWAYS dwell on the most negative aspect of the news. In fact, this morning's economic news was very good (look how the stock market zoomed up if you don't believe me). Yes, the overall unemplloyment went up but that was because the last of the temporary census workers were laid off.

In fact, private employment went up in August-67,000 private jobs added-where the genereally expected gain was pegged at 44,000.

Overall employment fell 54,000 jobs (due mostly to the census workers), which was much less than the 120,000 drop generally expected.

The Gloomy Gus act is getting tired. It is clear the economy is recovering-very slowly and in fits and starts (as usual), but it is recovering. Can you imagine the progress we would have made if the GOP didn't throw roadblocks in front of any and every plan to remedy the damage they caused?

Perhaps if someone in the GOP/teabag opposition could articulate some rational and feasible plan to spur economic recovery they would be worth listening to.
 
I can't help but think that if, instead of bailing out the banks and brokerage houses that were "too big to fail," if the administrations would have simply paid off the mortgages of those who were upside-down, it would have done far more for the economy.

That should have prevented the huge jobs loss that was the result of the bubble collapse by keeping so many houses from being dumped on the market nearly all at once. When people keep their jobs, the economy is better...they can pay their bills, they can buy things they don't NEED...and the banks would have gotten (most of) their money without a direct bailout...

While I don't support the idea of buying a house you can't afford, I don't support bailing out the banks for their fiscal incompetence and greed either.
 
Unemployment rose this month. Now at 9.6%. Summer of Recovery!
============================================

Who said recovering from the Bush destruction of the economy and country would be easy?
 
Thump553 said:
In fact, private employment went up in August-67,000 private jobs added-where the genereally expected gain was pegged at 44,000.
Click to expand...


this will change when all the stimulus funded construction ends, and all those guys are out of work. that should start in the next 6 months
 
How about a housing equivalent of "Cash for Clunkers?"

Let the Feds pay people to allow them to destroy their vacant houses if they are inefficient (ie heating / cooling).

Fewer inefficient houses, fewer vacant houses clogging up the market, etc.



(FWIW, I am against the above and Cash for Clunkers, but it is the logical extension of Cash for Clunkers)
 
Schadenfroh said:
How about a housing equivalent of "Cash for Clunkers?"

Let the Feds pay people to allow them to destroy their vacant housing if the houses are inefficient (not green).

Fewer inefficient houses, fewer vacant houses clogging up the market, etc.

(FWIW, I am against the above and Cash for Clunkers, but it is the logical extension of Cash for Clunkers)
Click to expand...
LOL... how would this plan even work?

1. Buy house.
2. Get paid to destroy said house.
3. ...
4. Profit!
 
Thump553 said:
Perhaps if someone in the GOP/teabag opposition could articulate some rational and feasible plan to spur economic recovery they would be worth listening to.
Click to expand...
I thought the GOP was very vocal that the Stimulus Package should have primarily focused on small business rather than 'shovel ready' projects...real job growth vs. temporary job growth. Republican concerns were ignored...funny you don't remember that.
 
Doc Savage Fan said:
Thump553 said:
Perhaps if someone in the GOP/teabag opposition could articulate some rational and feasible plan to spur economic recovery they would be worth listening to.
Click to expand...
I thought the GOP was very vocal that the Stimulus Package should have primarily focused on small business rather than 'shovel ready' projects...real job growth vs. temporary job growth. Republican concerns were ignored...funny you don't remember that.
Click to expand...

Shovel ready projects did the same as Cash for Clunkers.

Pulled demand forward - did not create anything new in the long run.

Investing in business to created jobs was the way to jump start the economy.

As we see, the census jump is bleeding off.
In 6-9 months the shovel ready projects are gone. what long term work exists for those people.
does the local government have the funds available to create more of those projects?
 
Guys, stop complaining. Without that massive government hand out earlier this year, unemployment would be at 62.4%!
 
Doc Savage Fan said:
I thought the GOP was very vocal that the Stimulus Package should have primarily focused on small business rather than 'shovel ready' projects...real job growth vs. temporary job growth. Republican concerns were ignored...funny you don't remember that.
Click to expand...

That's absolutely wrong. The closest the GOP ever came to proposing to helping small business was that totally nebulous 17 page GOP stimulus plan, which was pure vague rhetoric without any substantive proposal whatsoever.

We desperately need a stateman on the GOP side of the aisle-someone who is not afraid to express some independent thought-instead of always toeing the party line or Palin tossing out some random Twitter slogan.
 
Pens1566 said:
The article on CNN says "August was the eighth straight month that businesses added jobs" so I take that as private sector.
Click to expand...
Ah, got it. I just looked at the report on the BLS website, it said net jobs lost was -54k but private sector jobs gained was +67k.
 
EagleKeeper said:
Shovel ready projects did the same as Cash for Clunkers.

Pulled demand forward - did not create anything new in the long run.

Investing in business to created jobs was the way to jump start the economy.

As we see, the census jump is bleeding off.
In 6-9 months the shovel ready projects are gone. what long term work exists for those people.
does the local government have the funds available to create more of those projects?
Click to expand...

"Shovel ready" was a giant boondoggle pulled on the American people. The jobs that REALLY needed to be done were old, had to be reengineered and rebid. They were as close to "shovel ready" as Kirstie Alley is to fitting into a size 0. The money got spent on jobs that the gov't (state and fed) could get specced and bid quickly regardless of quality or need. And yes, I do know what I am talking about, having underwritten several of the legally required Miller Act bonds on these projects and being plugged in to the public works construction 'scene'.
 
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