Skip to comments.Job market unlikely to recover until 2014 (shovel ready jobs not quite ready)
Posted on 09/04/2009 3:01:55 PM PDT by tobyhill
New unemployment data show why it will take years for the labor market to recover from one of its fastest and deepest declines since World War II, even if an economic recovery is around the corner.
The Department of Labor report released Friday showed job cuts in August were lower than they've been in recent months. But a deeper look at the data shows why it will take millions of new jobs to dig American workers out of this recession's deep pit.
Unemployment for teenagers stands at nearly 26 percent. More than 758,000 workers are so discouraged they quit looking for jobs altogether, by far the biggest such number since the Department of Labor started tracking it in 1994. Damage continues to mount in the manufacturing, financial and construction sectors.
(Excerpt) Read more at msnbc.msn.com ...
The only shovel that is ready is the one we will use to bury the Obama Presidency.
Obama’s CZARS sure have their high paying jobs...that’s your tax money going to these kooks who want to destroy you.
Well, that should give all the unemployed labor types adequate time to think about how all that hopey-changey stuff is workin’ out for them...
I don’t think we’ll ever see below 10% again.
The crowds are so sparse at my local McDonald’s, they’re down to a skeleton crew of teenagers working behind the counter during much of the day.
Unemployment here in L.A. is around 14%.
Congress can take the shovel-ready jobs since they will be receiving pink slips from the America people in 2010.
It’s closer to %20 in reality. They stop counting people who can’t find work after long enough. During the Great Depression they counted people out of work. Unemployed. If we did that now the numbers and trends would look increasingly dire.
Bush unemployment was around what 5%?
or is it that by 2014 we have rid ourselves of all the Rats and Rinos and White House mice, and elected Sarah Palin who played the Reagan card and shrunk taxes and government and stopped the Obama insanity thus ending the GDII and igniting the biggest economic boom yet again in world history?
Much of the day including - lunch time? I hear you. I just wonder what these people are doing now? Staying at home and eating baloney sandwiches? I guess MC’Ds does not take those food stamp credit cards.
The old physical food stamps created some shame for some people to go out and work harder. The modern credit card looks like a reg CC when you are in line at a grocery store. You cannot tell unless you are paying really close attention.
It was low enough for it to be considered full employment.
sorry about the run-on sentence, I tried to say that all in one breath : )
I just came from Food 4 Less on Sunset and every time a long weekend comes up, the Friday noon is usually packed.
Not today at noon. There were no crowds. Also the prices have gone up 30 to 40 cents.
if they are predicting that far into future then its not going to happen...just more government growth....Im going to plow up my back yard so i can feed my neighbors.
The Ralph’s supermarket near me is never crowded. There are ususally only three checkers at the busiest times. Shelves are fully stocked, but the Campbell’s Chunky Soups and Progressos are not moving at $2.99 a can. They’ve been priced like that for months now, and nobody’s buying. I’m waiting for there to be a sale and I’ll stock up.
It’s so funny, one of the cereals I like (Quaker Oat Squares) is usually priced at $5.19 (!) a box, and every so often discounted to $2.00/box. It quickly sells out at the lower price. Who’s going to spend five dollars for a box of cereal?
The 99cent Store down the block is always packed, however. Long lines.
The local mall is almost a ghost town. Wal-Mart, though, is full of customers speaking Spanish.