Unemployment Up to 9.8%--More Stimulus Crappola Coming??

The Lid/Market Watch ^ | 10/2/09 | The Lid

[Shellybenoit]

How's that stimulus bill working for you? Its not working for most of us.

The U.S. labor market weakened in September as 263,000 payroll jobs were lost and the unemployment rate rose a tenth of a percentage point to a 26-year high of 9.8%, the Labor Department reported Friday.

It marked the 21st consecutive month of job losses. Since the recession began in December 2007, 7.2 million jobs have been lost and the unemployment rate has doubled.

Details of the report were almost universally dismal, with the number of unemployed people rising by 214,000 to 15.1 million.

Of those, 5.4 million have been out of work longer than six months, accounting for a record 35.6% of the jobless. The employment participation rate fell to 65.2%.

Then there is that number called REAL unemployment which includes discouraged workers and those with part-time employment, rose to 17% from 16.8%.

Remember when unemployment stayed stable two months ago, the President said that it was proof that his stimulus package was working. This was opposed to three months ago when he said the stimulus package did not have the time to work. How will he react to this news? Will he go back to "its too early for the package to work?"

[kabar]

More good news for Charles Gibson to announce. There is a pony in there somewhere.

[RayChuang88]

We need the ultimate stimulus: fix our taxation system to encourage personal savings and capital investment staying in the USA. Just doing that would go a LONG way to fixing the US economy.

[Doogle]

...comes down to Odumbo’s bank pals are not leading the money....THE VERY SAME PROBLEM THEY IGNORED WITH TARP!

[my small voice]

Stimumlus?? Oh, you mean that bribe they gave in Copenhagen?

[Doogle]

leading=lending

[Mr. K]

$1.4 TRILLION divided by $50k per year job = 28million jobs

So we should have 0% unemployment

Just where the hell is $1.4 TRILLION dollars being spent??

Wasn’t ACORN in line to get $8BILLION? for what???

[Recovering_Democrat]

It marked the 21st consecutive month of job losses. Since the recession began in December 2007, 7.2 million jobs have been lost and the unemployment rate has doubled.

QUESTION:
How many jobs have been lost since: Hussein was elected...and inaugurated?

[Recovering_Democrat]

See, the LAMESTREAM MEDIA is always referencing December 2007....whereas, Hussein's "give it to me" economy began in proxy in November of 2008, when he was elected.

So let's see the Hussein-inspired economic numbers.

[Doogle]

funny how Odumbo’s outta town......and it's the weekend....and of course he's done sacrificed for the country globe trotting!

[paudio]

...the number of unemployed people rising by 214,000 to 15.1 million. Of those, 5.4 million have been out of work longer than six months...

If I were the author, I'd highlight the fact that almost 10 million lost their job in the past 6 months.

[digger48]

And winter is knocking. seasonal layoffs are coming. Some of those jobs won’t be there come next spring.

By January, we’ll be looking at 12-13%

[massmike]

“It marked the 21st consecutive month of job losses. Since the recession began in December 2007, 7.2 million jobs have been lost and the unemployment rate has doubled.”

.....isn’t December of 2007 right about the time the dems took over congress??????

[drangundsturm]

Obama clearly flew to Copenhagen in order to take credit for bringing the olympics to the USA because he knew this bad news was coming. The WH gets to see these reports before they are released and believe me they know roughly what the numbers will be before the month even closes.

Now the question is: will we even get the olympics? Some say he must have known it was in the bag otherwise he would be a moron to fly out there and personally pitch it. Others say, well yeah he is a moron and would fly out there even if it were not in the bag because he’s so egotistical he would think he could personally swing it no matter what.

I say: if we do get the olympics this is good for maybe a 10 day bump in his poll numbers and maybe slightly deflects the bad employment data for a week or two. If we don’t get it, he looks like the biggest loser on earth and its absolutely clear this man is “winging it” on every issue he touches.

So his upside is minor, a couple weeks of somewhat better numbers, his downside is ENORMOUS if we don’t get the olympics because he is proven to be a total loose canon with no strategic thoughts running through is brain.

Stay tuned....

[Puppage]

funny how Odumbo’s outta town..

He & Michelle are sacrificing, silly.

[Kartographer]

OBAMAVILLE

Gett’n a head fake,
watchin’ msn’s take;
All of their pundits oozing foul oil.
Clean’n my six gun on my front porch swing.
Felling my blood—
It’s beginnin’ to boil.

Wasted away again in Obamaville,
Searchin’ for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know it’s Obama’s fault.

There’s no rhyme or reason,
They are all commitin’ treason
With nothing to show but a brand new tax or two.
But they are real beauties,
Despotic duties, how they got passed
I haven’t a clue.

Wasted away again in Obamaville,
Searchin’ for a job so I can earn my salt.
Some people claim that it’s Bush we should blame,
Now I think,— hell with them it’s Obama’s fault.

I blew out my flip flop,
Stepped on a pop top;
Cut my heel, but I just cruise on back home.
Because no medical care will the doctors render
They say there’s little service I can tender
And there’s no need for me to hang on.

Wasted away again in Obamaville
Searchin’ for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know, it’s my own damn fault.
Yes, and some people claim that Bush is to blame,
And I know because of my vote it’s my own damn fault.

[silverleaf]

anyone who has money to save is far too rich and “privileged” to be of concern to the redistributionists

Don’t you know you only have leftover money because selfish you took it from someone who is underserved?

[happydogx2]

As high as the manure is piled we could hide a team of Clydesdales in there.

[Bloodclot]

This is being looked at all wrong. Look at all the jobs the stimulus saved.

[dalebert]

stop the spending

[SonOfDarkSkies]

Simple Solution:

• Cut taxes (individual and corporate)
• Cut government spending
• Open up oil/gas exploration and drilling offshore and on government lands (include shale oil extraction in this program)
• abolish the "minimum wage"

[traderrob6]

Anyone have that graph of unemployment projections when they were trying to sell the stimulus and said if it passed unemloyment would max out at 8%?

[silverleaf]

I suspect he was clued that the Olympics was in the bag, as everything else he has been handed in his entitled life.

He certainly couldn't stay home and govern the nation and let the first wookie take credit for snagging this pie for the Chicago machine

Only hope is that their combined arrogance and entitlement attitude turned off a few delegates, who will change their votes to Rio

[silverleaf]

January 06

[Doogle]

you left out Orca...Ophra...???..Oshiite...watever

[himno hero]

Why dont the people stand u and say.... out with the Marxist gov’t?

What small businessman wants to invest more resources in a marxist enviroment? While the whole nations is nervous and not spending you would think they would stand up and say...
We aint gonna take it no more!!!!

Are they going to wait for 20 percent unemployment and more empty platitudes?

[wny]

8,700 jobs a day lost and the idiot-in-chief is bragging about “putting people to work”

[Ev Reeman]

As the economy gets even worse, look for Obummer administration officials like Biden and Gibbs to continue to say everything is just peachy keen again and again until we start believing it. You vill believe this. It is an order from ze government. If you do not believe zis, you vill be taken out and shot.

[KC_Conspirator]

If Bush or any other Republican pulled this crap - the excessive spending and expensive vacations - the MSM would be calling for their impeachment. I am sick and tired of the lies about the economy - green shoots and other outright lies.

[bt_dooftlook]

To be sure, the real unemployment figure is almost certainly higher, as it excludes people who formerly had jobs but have stopped looking...

[Shellybenoit]

the posted article says that number is 17%

[M. Dodge Thomas]

The structural forces which set the employment trajectory of this recession were active in full force well before the current policies were in place, and whatever the efforts at either "austerity" or "stimulus" it's going to be a long ugly climb out back out.

[drangundsturm]

LOL!!! And the winner is ... OBAMA IS A CLUE LESS LOSER!!! No Olympics for you!

Now the theory has to be: he knew he *wasn’t* going to get the olympics and that news would knock the unemployment results off the nightly news and so he was going for the lesser of two evils... but the truth is he is just a loser in every way imaginable. No job creation. Not even slower job losses. No olympics. Country up in arms about health reform. Climate legislation off the table. Stimulus package epic FAIL.