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

fox business ^

[Huck]

mandates a 35 hour work week to spread the income around

That's another thing I question about these numbers. I am self-employed. Am I part time? Full time? Depends how much business I have. Last year I worked every day but Sunday. This year things are down. I'm still working every day but Sunday, but it doesn't add up to 40 hours. Do they count me as part time willing to work full time? Full time? Beats me. How about when I was working more than 40? Was I overemployed? 40 hr work week is for wage slaves. People who are out there hucking and chucking don't worry how many hours it adds up to. They just grab all the work they can handle.

[Typical_Whitey]

but but but ... Stimulus is working... at least for ACORN it is...or was...

[RobFromGa]

I don’t know how they do it Huck, I am also self-employed/

I just know that we are in for some serious pain ahead before things can get better. There is too much excess to work off...

And the foreclosure/ bad loan crisis is going to kill MANY banks that we don’t have the money to bail out...

[algernonpj]

Also self employed, when I can get work (Boy I used to never say that!).

The following tells how the gvt collects stats:
http://www.bls.gov/cps/faq.htm

I suspect, there is not much relevance to independents because the sample used for the survey.

[ichabod1]

I think we all guessed it.

[ichabod1]

Every time I see one of those bags I’m tempted to buy one. But I don’t know how to keep it so the bugs won’t get into it.

[Patriotic1]

Maybe because we actually know people now in that category? That it used to be a hidden number, but now isn’t? I have people in my family in this category - had hour cut, praying that it goes back to FT. No other prospects in site.

I can understand your point about consistency, but this situation is unlike any I’ve ever seen.

[Night Hides Not]

Green shoots?

Obama left them in Copenhagen.

[Huck]

The numbers definitely say it’s something most of us haven’t seen. I can’t seem to find a U6 chart that goes back to the 30s. Im looking. I can’t even find U6 for 74 or 83.

[ClayinVA]

Jobs are not coming back in the fourth quarter. Very few people are hiring for Christmas.

[rasl04]

In a different way. I say the DEMs hurt us when they live up to their principles, the GOP hurts us when they don’t live up to theirs.
+++++++++++++++++++++++++++++++++++

Best observation in a long time

[Huck]

Here's a generic unemployment chart. Assuming it's all using the same data, we're just now reaching 82-83 levels. We still have a ways to go to hit Depression levels. But it looks like we've moved passed 74-75.

Even if this chart is U3 data, the U3 and U6 numbers seem to follow the same path. So just relatively speaking, this is currently at 82-83 levels. That was a bad one!

That was when Reagan's "stay the course" message came to be. He was hanging on to his economic program for dear life while we went through a ROUGH recession. Then, recovery, 1984, "morning in America." etc.

Looks like 1890s were no picnic. I think it's possible, like Fred G Sanford used to say, "Elizabeth honey, this is the big one." Looks like a hundred year storm. God help us all.

[Huck]

That chart I posted also shows just how monumentally bad the Depression was. Even if we hit 1890s levels, we’d have a ways to go to hit 30s levels.

[Alamo-Girl]

Thanks for the ping!

[Marty62]

And the hits just keep coming.

[A.Hun]

What makes you think the worst is yet to come?

The only thing that has improved to date is the stock markets.....the only reason for that is the profits from the financials. Those profits are only because of the TARP and the nearly 0% interest rate they are getting on money.

What little improvement in housing, transportation, and everything else is simply seasonal.

We have the alt-a and prime mortgage failures increasing. The commercial real estate market is collapsing. There are over one hundred failed banks now and the FDIC is broke. Manufacturing is down from last years pitiful levels.

THere has been no real improvement in our economy, and shortly, the MSM will no longer be able to hide it.

[genxer]

Well when i see someone who tries to imply we aren’t equally as harsh on Republicans i will question who and why they are, when the reality is this bunch are not replican water carriers.

Bill clinton changed how it was factors so it sounded better, by eliminating the depressed worker. The U6 rate was the standard. So to keep apples to apples, we are at 17 percent unemployments. Higher then Jimma and rivaling the great depression.

Bush grew jobs each month until the dems too over congress and he himself made some strange lurch to the left

[dools007]

Oh, I like that. You must be from the South. I’m a Yankee, but my son went to Clemson, met a southern gal and never returned home. Anyway, I see it all over many southern states. Many Northerners would not know what you’re talking about.

Not a criticism. Just pointing out their limited world knowledge.

[tina07]

9.8%..

9.999999999999999999999999999999999999999999999999%

but never the dreaded double digit 10% eh?

[Huck]

The worst numbers since the Depression hit in 74-75 (Nixon/Ford) and 82-83 (Reagan.)

Doesn't mean I'm not conservative. The numbers are what they are. Reagan "stayed the course" and turned things around, but that recession in his first term was a doozy.