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There goes the 'Summer of Recovery'! Good riddance.
Thanks Larry for all your great work!
The Wheels On The Bus Go Thump, Thump, Thump.
Summers will be writing a book on the economics of job creation.
Posted on 09/21/2010 6:30:17 PM PDT by Brilliant
More than half of U.S. states saw their unemployment rates rise in August, the largest number in six months, as hiring weakened across the country.
The jobless rate increased in 27 states last month, the Labor Department said Tuesday. It fell in 13 and was unchanged in 10 states and Washington, D.C. That's worse than the previous month, when the rate increased in only 14 states and fell in 18. It's also the most states to see an increase since February...
The report comes a day after a nonprofit group of economists declared that the recession ended in June 2009, making it the longest and deepest since World War II. Still, even after 15 months of recovery, the nation's unemployment rate is a painfully high 9.6 percent...
For Western states, "nothing really gets better until the housing market stabilizes," said Steve Cochrane, an economist...
A depressed housing sector costs jobs for construction workers, realtors and other workers directly tied to the sector...
Neary 70 percent of homeowners are under water in Nevada, as of the end of June...
In Arizona, half of the home mortgages were under water and in California it was 33 percent.
The housing market is struggling and years away from fully recovering from the downturn. Foreclosures spiked in August and are particularly high in several Western states.
Nevada posted the highest foreclosure rate last month, with one in every 84 households receiving a foreclosure notice. That's 4.5 times the national average.
Nevada's unemployment rate rose to 14.4 percent, a record high for the state. Nevada has the nation's highest jobless rate. It overtook Michigan in May.
Florida, Arizona, California and Idaho rounded out the top five states for foreclosures...
(Excerpt) Read more at finance.yahoo.com ...
“The recession is over ... It ended 15 months ago...”
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I call bullshit on that.
And yesterday was the last day of the “Summer of Recovery” recovery.
The Obozo admin is tickled pinko over this.
It is over... if you are an investment banker or possibly a member of the National Council of East Coast Liberal Elitist Ivory Tower Economists Association.
Unexpectedly, right?
Yet.... I’m just SURE the unemployment numbers will be down for the next report... Before being revised back up the following month, after the elections....
(believe stats from the government at your peril right now)
I changed planes in Vegas last night. It was amazing to see how many housing developments had been abandoned. We could see the roads and empty lots.
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There goes the 'Summer of Recovery'! Good riddance.
Thanks Larry for all your great work!
The Wheels On The Bus Go Thump, Thump, Thump.
Summers will be writing a book on the economics of job creation.
You nailed it! It’s been a heck of a summer. LOL!
Back in April or May, VP Biden categorically stated that the economy would generate 500,000 jobs a month for the foreseeable future - GOP needs to turn up the heat on unemployment throughout October.
BUSH’S FAULT!!!
I agree. Nevada is the highest in the nation now from what I heard. Maybe the Harry Reid-loving, union idiots will figure out why they are unemployed before the November elections. It will be tough but it could happen.
Like I said,This is just my opinion but come 2012 & after empowering Imadinajerk & pulling out of Iraq & Afghanistan we will see $5 gas real soon
Please don’t let that BS news headline today “housing starts up 10.5%” fool ya.
Trust me a 10% increase above practically ZERO is still zero.
It’s funny, 2 or 3 yrs ago we heard about that 2nd wave of sub-primes coming due in 2010-2011 but where are they?
Where are all those defaulting commercial loans they spoke of?
The jobless rates in most blue states are in the tank & their future & local Dem controlled districts, too, are bankrupt.
I see the Republicans doing well in 2010, maybe the House & Senate BUT after 2 more years of Obama & chaos domestically & internetionally,
I PUT MY MONEY ON A MOP HEAD FOR 2012.
Come 2012, with Depression Era joblessness, gas, food & taxes increasing beyond anyone’s imagination & Hitleresque International problems.
YES, I think even a mophead can win.
Like I said,This is just my opinion but come 2012 & after empowering Imadinajerk & pulling out of Iraq & Afghanistan we will see $5 gas real soon
Please don’t let that BS news headline today “housing starts up 10.5%” fool ya.
Trust me a 10% increase above practically ZERO is still zero.
It’s funny, 2 or 3 yrs ago we heard about that 2nd wave of sub-primes coming due in 2010-2011 but where are they?
Where are all those defaulting commercial loans they spoke of?
The jobless rates in most blue states are in the tank & their future & local Dem controlled districts, too, are bankrupt.
I see the Republicans doing well in 2010, maybe the House & Senate BUT after 2 more years of Obama & chaos domestically & internetionally,
I PUT MY MONEY ON A MOP HEAD FOR 2012.
Come 2012, with Depression Era joblessness, gas, food & taxes increasing beyond anyone’s imagination & Hitleresque International problems.
YES, I think even a mophead can win.
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