U.S. Sept. Payroll Losses Accelerate To 263,000 (unemployement 9.8%)

fox business ^

[ExTxMarine]

[But both recessions brought double digit u6 for gwb. It’s possible there’s some lurking in 02 and 04 as well. And 07.]

I think you are missing the bigger point - GWB was working to NOT be in the double digits, whereas this moron we have in charge right now thinks it’s a “shovel ready” job.

I am not the brightest bulb in the knife drawer, but the last I looked, when you find yourself in a hole, the first step to getting out is to STOP DIGGING!

[ScottinVA]

“Very funny.

May I use it?”

You sure can! Just be sure I get the royalties ;-).

[algernonpj]

Here’s how U-1 thru 6 are calculated:
http://www.bls.gov/cps/cps_htgm.htm
http://www.bls.gov/cps/cps_faq.htm

Here’s how the stats have been ‘modified’ over time:
http://www.shadowstats.com/section/primers
http://www.shadowstats.com/alternate_data

[frogjerk]

How do they determine how many people “want and are available” but aren’t looking? How to they measure people who settle for part-time?

Surveys and such. Not that they are accurate but an absolute number is going to be difficult to nail down on such a measure.

If it’s U6, that means GWB had double digit unemployment several times in both terms.

I'm fine with that as long as were measuring apples to apples.

[SeattleBruce]

Who in their right mind would get into debt now? Who would spend all their savings on presents when they know they’re about to be robbed?
++++++++++++++

Right. This elusive rebound in consumer spending, will be just that.

[Huck]

I'll tell you one Republican I like---my congressman, Scott Garrett. He's top drawer in my book. Not an eloquent speaker, not telegenic, but just a good egg who grew up in the area he represents.

[Gabrial]

Biden Stunned Stimulus Is Working So Well
VP: ‘If it doesn’t work, I’m dead’

I don't have time to do the exact math, but reality suggests that spending $787 billion to destroy 3.5 million jobs means the government has spent over $2,000,000 in “stimulus” funds to destroy each job. Why not just give $2,000,000 to each person laid off and have 3.5 million more millionaires instead of 3.5 million more people drawing unemployment?

[Tzimisce]

I promise you: the US unemployment rate will never hit 10%. It's the President's people who are putting these numbers out and Obama said the rate would never go higher than 10%.

The bottom line: they're fudging their math and redefining terms to keep the official rate under 10%....

[WhistlingPastTheGraveyard]

Obama dodged a bullet. He missed out on getting tagged with “double-digit” unemployment. This will likely help Obama and boost his approval ratings. The actual difference (0.2%) is negligible, but the psychological difference is huge. Once jobs start coming back in the 4th quarter, Obama will claim victory in that we never reached 10% unemployment. And yes, I know the “real” unemployment number is 16%-18%, but nobody pays attention to that.

That's not much different from what you posted one month ago HERE... where you predicted September job losses would be "150,000 or less".

Your Q4 predicition will be as spectacularly dreadful as your September predicition. This season is going to be a bloodbath.

[ExTxMarine]

[...they’re fudging their math and redefining terms to keep the official rate under 10%....]

WHAT? Are you calling the President and his people liars?!? How uncivilized!

[Huck]

GWB was working to NOT be in the double digits, whereas this moron we have in charge right now thinks it’s a “shovel ready” job.

Hard to believe there's 3 yrs+ left to go, and hell, the guy could get re-elected. The good news to me is that O's first year is pretty much in the books, and it's all bad news. What has he accomplished? Not a damn thing.

But GWB set the GOP back a long ways. The banking collapse took place on his watch. He had how many stimulus bills during his term? GWB was not an effective executive. In both parties, I believe we are seeing de-evolution in progress.

[Grunthor]

“Why not just give $2,000,000 to each person laid off and have 3.5 million more millionaires instead of 3.5 million more people drawing unemployment?”

Ah....because rich people are evil?

[algernonpj]

That’s not true. Check 2003.

My error. I should have been more specific: I've been researching it & I've gotten back to 2004; between 01.2004 - 01.2009, U-6 crept into double digits in mid 2008, and wasn't great before that. (The spread sheet I'm creating for myself doesn't focus only on U-6).

[DontTreadOnMe2009]

“The overriding fact is quite simple. We elected an empty suit, an absolute economic illiterate and we will continue to suffer under these asinine Keynesian policies. Indeed, we’ll be lucky to live through them. It’s way past time for the GOP to turn up the heat and call these policies an economic disaster for this nation. There is no recovery. Period.”

Yes

It is more than past time to stand up and call a spa ...........

whooops almost said it.

So great to live in a country where one is afraid to speak !

Thanks Libtards for stealing my country from me !!!

[pburgh01]

Where is the Obama fellating disclaimers with adjectives like “Less than expected” or “Rate of unemployment slowing”.

[Huck]

Check out post 95. Someone posted a table going back several years.

[ecomcon]

Where do you get that from? Look at those numbers for 98-00. The numbers are what they are.

+++++++++++++++++++++++++++++++++++

But remember, congress was republican controlled during those years, thwarting Clinton.

[SeattleBruce]

If it’s U6, that means GWB had double digit unemployment several times in both terms.

I’m fine with that as long as were measuring apples to apples.
+++++++++++++

http://www.freerepublic.com/focus/news/2353277/posts?page=95#95

U6 is un and underemployment - and GWB had it at 10% or more for 17 of 96 months (most of it just barely at or slightly above 10 in 2003, and then at the end of 2008.)

But basically it’s DOUBLED under Obama.

So Huck, your point is?

[SeattleBruce]

But both recessions brought double digit u6 for gwb. It’s possible there’s some lurking in 02 and 04 as well. And 07.
++++++++++++

Huck, you’re wrong about 02,04 and 07. And U6 has about DOUBLED under bammy. What’s your point then on this?

[ExTxMarine]

[But GWB set the GOP back a long ways.]

I don’t think he did. I think his “compassionate conservatism” simply brought to an ugly head the very issues that have been crushing America: both parties are worried more about power and money than the people they represent!

I believe we have to have a Nixon/Ford to get a Carter which blossomed into Reagan! The way I see it, we needed Democrat-lite Bush to give us Obamao so that we can blossom again with ... (Sarah Palin (and what a blossom))!