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Payrolls Drop 524,000; Unemployment Rate at 7.2%
CNBC ^ | 1/9/2009 | CNBC

Posted on 01/09/2009 5:42:54 AM PST by Red in Blue PA

U.S. employers slashed payrolls by 524,000 in December, driving the unemployment rate to its highest level in almost 16 years, a government report showed on Friday, suggesting that the year-long recession was deepening.

The Labor Department said the national unemployment rate rose to 7.2 percent in December, the highest level since January 1993.

(Excerpt) Read more at cnbc.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: dol; economy; layoffs
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To: Red in Blue PA

How many of these unemployed are from the Mortgage lending and banking industries, along with failed Media outlets, especially newspapers??

And DelanObama wants us to believe that he’s going to send all those people forth to build bridges, schools, water treatment plants, et al....


21 posted on 01/09/2009 6:32:05 AM PST by Bean Counter (Stout Hearts.....)
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To: cbkaty
Hmmmmm....cutting staff in advance....in anticipation of the Obama government making layoffs more expensive for companies?

Yes. Anything bad in W's first four years was Clinton's fault. Anything bad during the last four is Obama's fault.

22 posted on 01/09/2009 6:32:28 AM PST by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: Red in Blue PA

We’re doomed, doomed!!
Where’s the hemlock?
It’s either that or graduate school.


23 posted on 01/09/2009 6:32:50 AM PST by quesney
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To: mkjessup

If 93% of Americans were productive workers, we wouldn’t be in any mess.


24 posted on 01/09/2009 6:36:00 AM PST by Boiling Pots (The USA has become one huge pyramid scheme. Thanks George, John, Nancy and Harry.)
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To: Sig Sauer P220
Bottom line folks, is that the majority of Americans are working.
If unemployment were 49%, you could still make that statement.


Totally irrelevant.
25 posted on 01/09/2009 6:37:45 AM PST by mkjessup ("An empty limousine pulled up in front of the White House, and Barack Hussein Obama got out")
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To: Boiling Pots
If 93% of Americans were productive workers, we wouldn’t be in any mess.

If we deported those 14+ million illegals that have no business being here except for President Jorge putting out the welcome mat, we wouldn't be having this discussion at all.
26 posted on 01/09/2009 6:38:36 AM PST by mkjessup ("An empty limousine pulled up in front of the White House, and Barack Hussein Obama got out")
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To: Red in Blue PA

Well, well, well... this Democratic controlled Congress since Jan 2007 is turning out just fine and dandy! A good economy and low unemployment had always been overrated in my book.


27 posted on 01/09/2009 6:40:27 AM PST by avacado
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To: Bean Counter

>>>How many of these unemployed are from the Mortgage lending and banking industries, along with failed Media outlets, especially newspapers??

Not many...Yet.

Private Sector = - 531,000
Natural Resources & Mining = - 1,000
Construction = - 101,000
Manufacturing = - 149,000
Durable goods = - 114,000
Non-durable goods = - 35,000
Services = - 273,000
Wholesale Trade = - 30,000
Retail Trade = - 66,600
Transportation = - 23,900
Utilities = - 100
Information & Media = - 20,000
Financial Svcs & Real Estate = - 14,000
Professional & Business Svcs = - 113,000
Education = + 7,000
Health Svcs = + 37,500
Leisure = - 22,000
Government = +7,000


28 posted on 01/09/2009 6:52:09 AM PST by NC28203
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To: Red in Blue PA
And it's going to get worse. Because it needs to.

We cannot fix the excesses of the capitalist market system by electing a socialist. The fools who did this need to be beaten down. When the ordinary public does not have enough money to buy tickets to movies made by the asshats who sold Zero as the savior, when Oprah cannot find advertising sponsors for her afternoon whinefest, and when the pigs at the bailout trough realize that they won't be able to fool anyone ever again, then we can take back this country.

It's the conservatives generally who have prepared for this time, the liberals have not. We need to form organizations to accurately let us know who to spend what little money we intend to part with. No bucks for the idiots who bought the hope and change crap.

29 posted on 01/09/2009 6:54:46 AM PST by hunter112 (We seem to be on an excrement river in a Native American watercraft without a propulsion device.)
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To: mkjessup

i agree. i was making a tongue in cheek humor about welfare leeches.


30 posted on 01/09/2009 6:55:27 AM PST by GUNGAGALUNGA
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To: mkjessup
7 percent unemployment means that 93 percent of all Americans are working, ok?

No, it doesn't. It means that 93% of all Americans who are working or are trying to find work are working. Less than 50% of Americans actually have jobs. Which is fine - there are many people who are too young to work, or are retired, or are stay-at-home moms/dads, etc.

31 posted on 01/09/2009 6:55:35 AM PST by green iguana
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To: alloysteel

“Translated, this means that we begin extracting oil from the shale deposits of Utah and Colorado, go for the extraction of petroleum WHERE IT EXISTS”

Exactly how do you force oil companies to do that when they would lose money at current oil prices?


32 posted on 01/09/2009 6:58:48 AM PST by Rebelbase
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To: mkjessup; MikeWUSAF
7 percent unemployment means that 93 percent of all Americans are working, ok?

Good point. When Reagan was elected he was confronted with an unemployment rate that exceeded 10%. His advisers told him to pull back on his tax cuts and that the Pubs were going to get killed in the next election. Thank God he was his own man. He hung on and we've had 25 years of generally good economies.

our problem is we do not have a Reagan in the WH this time. We have an FDR wanna be.

33 posted on 01/09/2009 6:59:18 AM PST by wmfights (If you want change support Senateconservatives.com)
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To: IYAS9YAS

“Federal minimum wage is now at $6.55/hour. Many states have already increased their minimum wages to more than that. The new federal rate will take effect in July this year and will be $7.25/hour. That certainly isn’t going to help anyone.”

Egads. It was $2.35/hr. when I started working. I’m getting old!


34 posted on 01/09/2009 7:01:16 AM PST by Rebelbase
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To: NC28203

Great numbers! Many thanks for that...(posts like yours are what make FR such an excellent resource...)

However, Seattle was hit with over 3,000 layoffs when WAMU went tits up, along with another spike in unemployment with layoffs at the Seattle Times and the PI, and now we hear the the Seatle PI is about to go tits up completely...

As time marches on though, everything starts to cascade and collapse in like a house of cards...


35 posted on 01/09/2009 7:03:59 AM PST by Bean Counter (Stout Hearts.....)
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To: mkjessup
"Bottom line folks, is that the majority of Americans are working."

49.9% unemployment is acceptable?

36 posted on 01/09/2009 7:04:22 AM PST by DaGman
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To: wmfights

Does 7% unemployment count stay at home parents?


37 posted on 01/09/2009 7:04:56 AM PST by davidosborne (Is Obama a Natural Born U.S. Citizen or not ??)
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To: hunter112

Meanwhile, our Republican Senators are signing on to the Obama plan. Is there any conservative out there to speak out AGAINST this plan? I don’t want McCain’s Republican Party...I want Reagan’s.


38 posted on 01/09/2009 7:12:55 AM PST by Blue Turtle (I)
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To: davidosborne

>>>Does 7% unemployment count stay at home parents?

No. Stay at home parents are not considered part of the civilan labor force. The civilan labor force is defined by those employed or actively seeking employment. That is currently about 154 million people. 143 million are employed and 11 million are unemployed.


39 posted on 01/09/2009 7:13:47 AM PST by NC28203
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To: NC28203

Yeah, but I personnaly know a LOT of folks who are officially “looking for work” but do not really want a job.. they just play game to keep getting the “check” from Uncle Sam... just like many of the welfare recipients who refuse to get a higher paying job because they don’t want to lose their “benefits”


40 posted on 01/09/2009 7:18:58 AM PST by davidosborne (Is Obama a Natural Born U.S. Citizen or not ??)
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