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

fox business ^

[kara2008]

[Little Bill]

Hey Huck, I lived through those years. The down turn was a result of the Johnson refusal to fund the war and the Great Society programs. The Carter years sucked, don't go by charts go by experience.

Reagan made us feel good about ourselves and we pulled out of the Rat Fail mode.

[Diana in Wisconsin]

Well, I high-balled it a bit. I was thinking total un/underemployment would hit 20% this month, but it’s only at 17%, UP from %16.7% last month. See the link, U-6 data line, go all the way to the right...

http://www.bls.gov/news.release/empsit.t12.htm

Anyhow, we should be in full-blown crisis mode by December. (I’m adjusting my estimates, just as 0bama & Crew are allowed to do each month by the Media.)

[Diana in Wisconsin]

Here you go:

http://www.bls.gov/news.release/empsit.t12.htm

[Diana in Wisconsin]

“I wonder if folks round here will use the U-6 number when the GOP is back in charge.”

I will. I’ve been in retail for the past decade. I watch them like a hawk no matter WHO is in the White House, because we have so many, many IDIOTS in Congress. And that fact NEVER seems to change, LOL!

[Huck]

I lived through the Carter years too. They did suck. I think we’re in a 70s cycle now. Unfortunately, we’re only in the 74-75 phase. I took all the way to 84 for things to turn around. It’s a cyclical bear.

[Huck]

The Nixon Ford years sucked too.

[Huck]

That’s true.

[Diana in Wisconsin]

We started ‘guirding our loins’ in retail last year already.

You snooze, you lose. :)

[Little Bill]

Don't bet in a down market, what came first Nixon or the communist.

Nixon was a Country Club Republican and thought that FDR was right and tried to emulate him, wrong move.

[Huck]

Nixon was an awful president in every way.

[Riley]

I haven’t heard an idiotic comment out of Biden in weeks.

I feel like I’ve been cheated.

[Doogle]

...you missed today’s..: “I want to reincarnate as a Puerto Rican”..????

[Tzimisce]

I’d call it “racist” myself.

[4rcane]

I think U6 it was 8-9% during Bush (double check on it), while U1 was 5-6%.

[genxer]

1975 rates figured the ‘old’ way or the U6 way
1975 rates were not 17 percent.

you chart even shows that this is over 1975. And its far worse because just as fdr didn’t handle the 1930s right, this too is not being handled right and will continue to get worse.

[Huck]

U6 data is actually the newer data. If you notice, you can't find U6 data before 1994. But it doesn't matter. The U6 number is higher than the U3 number, but they track the same way. When one is up, the other is up, so either number is fine for comparing decade to decade or year to year, as long as you use the same data for comparison.

Right now, we're worse off than 74-75, we're right at the level we were at in Reagan's first term, 83-84. I just read that in 1984 West Virginia unemployment was 15%. Did you know that?

We've got a ways to go before we hit Depression levels. We may get there. I would quibble with you about saying the situation isn't being "handled right." I believe it's far worse than that. I think it's CRIME that is taking place, and it didn't start in 2008. I think it's been going on for some time. Ever notice how it doesn't matter which party is in power, Goldman Sachs always has people on the inside? Ever wonder why? You think only one party can be corrupted?

[Go Gordon]

The U.S. labor market weakened in September as 263,000 payroll jobs were lost and the unemployment rate rose a tenth to a 26-year high of 9.8%

if each tenth of a percent equals approximately 250,000, my public school math tells me that at 10% unemployment there would be 25 million people unemployed. I sure hope the folks in the stock market take appropriate action. Without tax cuts, something that won't happen while Obama is in office, and 25 million unemployed and growing, we're screwed for the foreseeable future.

[Clintonfatigued]

I’ll bet it’s higher.