Posted on 09/04/2009 7:26:18 AM PDT by SeekAndFind
And the <?{*&%@ press dutifully report it every month and their ‘investigative reporters’ cannot see the obvious.
Goebbels lives. And the stock market goes up - Hooray!!
Thanks for the ping.
They’re saying 9.7%; so what’s the real number now?
ANother Bagdad Bob moment for the whole country...
Tada!
Is Yahoo in Obambi media bag? This is beyond pathetic, this is abuse.
Stocks rise as jobs report provides a little hope
Stocks rise after report shows slower pace of job cuts even as jobless rate creeps higher
* By Sara Lepro, AP Business Writer
* On Friday September 4, 2009, 12:16 pm EDT
NEW YORK (AP) — A mixed report on the labor market in August contained enough kernels of hope to send stocks higher on Friday.
The Labor Department reported a slower pace of job losses last month but also an increase in the unemployment rate to 9.7 percent — the highest since June 1983
The Soviet media still cannot explain itself: it’s bad, but good, but not so good, but still good.
Unemployment Hits 26-Year High: This Is a “Recovery”?
Posted Sep 04, 2009 12:39pm EDT by Peter Gorenstein in Recession
Related: spy, dia, ^dji, ^gspc, qqqq
The economic data continues to get less bad. Should we rejoice? Wall Street has mixed emotions. U.S. employers cut 216,000 jobs in August, fewer than expected and less job cuts than the previous month. Stocks were solidly higher midday in reaction but the unemployment rates now stand at a higher-than-expected 9.7% - the highest since Ronald Reagan’s first term in office.
The “good” news about lower-than-expected job cuts is further weighed down by revisions to June and July figures. The Labor Department now says the U.S. lost an additional 49,000 jobs in June and July.
“So in fact we’re in a worse situation than people thought we were…slightly,” says Justin Fox, the economics reporter for Time and author of ‘The Myth of the Rational Market’.
Still, this may prove to be a turning point, Fox says, as many forecasters predict the bleeding will stop by the end of the year. “If that happens then we’ll look back at this as another step in this wonderful trajectory towards the end of the ‘Great Recession’,” he says.
In another case of things getting less bad, August same-store sales fell 2%, it was the smallest decline since last September. “It’s clear we’re not in a great depression,” Fox claims. The question now is whether the recession really is ending.
I’ve never blamed presidents when companies shed jobs, downsize, outsource, ship jobs overseas, etc. In a few cases, I’ve blamed Congress. But if companies have to shed jobs to meet Wall Street earnings expectations, companies gotta do what they gotta do. American workers will just have to pick up the slack (if any!) and get on with it.
Which we all know because the DOL is being forced to cook the books by the Obama administration.
U6 numbers as of September, 2009 have gone from 10.7% to 16.8% in one short year!
U6 accounts for the folks below, as well as the newly unemployed. Basically it lumps together EVERYONE that’s without a job, or those WITH part-time jobs who are ready, willing and able to work full time and those that have basically given up:
“Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past.
Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule.”
http://www.bls.gov/news.release/empsit.t12.htm
No jobs, no prospect of jobs, no recovery. The Porkulus Bill didn’t create a SINGLE job that can be seen. Porkulus II (which is most liklely coming down the pike) won’t do a d@mn thing but completely seal the fate of our kids and grandkids as endentured slaves to Government.
It’s really pretty simple.
They would have something good to say about Hitler if he had a D after his name.
Indeed!
Good point. Anyone notice on Headline News when the Governator made a nice speech with firemen regarding LA fires? They had a D. next to his name.
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