Skip to comments.Get Ready For 11% Unemployment In January
Posted on 01/11/2010 8:55:23 PM PST by TigerLikesRooster
Get Ready For 11% Unemployment In January
David Kotok | Jan. 11, 2010, 3:11 PM
To be blunt: in our view the jobs data were plainly miserable and disappointing.
Like many of our readers, I listened to the debate on CNBC and read numerous analyses. We will set aside the perennial optimists who find positive outcomes in any data set. Simply put: a 10% unemployment rate and a 17.3% underemployment rate are two extremely serious numbers.
They help explain the markets immediate reaction, which was a Treasury bond price rally and a drop in the 2-year note yield to an intraday low of 0.936%.
Lets dig a little deeper into the jobs situation. We expect the January report is going to be a startling one when it is released in early February. It will be the first time we will see the full results of the annual revisions of the benchmarks used by the Bureau of Labor Statistics. The revisions will show that there was a net job loss in the United States for the entire decade. We guess the net loss will be about 1 million.
Furthermore, the number of discouraged workers who have left the labor force and the true size of the labor force will be better estimated once the revisions are public. Also, the differences between the two survey methods used to determine these statistics may become clear. They will show that if the labor force figure included those who would be genuinely seeking jobs were they not discouraged. We believe the revised figures will indicate the true unemployment rate might be closer to 11% than 10%.
Some of the details in the report show how severe things are. The unemployment rate for college graduates hit a new all-time high of 5%.
(Excerpt) Read more at businessinsider.com ...
actually, I have started to perfect some of my polish recipes to do just that. I am going to have hubby take orders at work and I am going to ask our parish priest if I can let folks at church know about it. I am going to be starting out with pierogis and stuffed cabbage. These two things I can make in my sleep LOL, and every time hubby brings them for a holiday potluck at work the folks go crazy for them.
Thanks for the thought... the bread may be the next avenue :)
any freepers that love a good old fashioned homemade pierogi or stuffed cabbage.....send me a freepmail :)
“Where are all those ever-promised green jobs, nobama????”
They’re out there, they are called “lawn mowing”.
11% is gonna freak peeps out BIGTIME
I prayed to GOD to help you find a good job to sustain you and your family. GOD bless you. You are not alone. I am sure there are many people praying for you right now. Hang in there.
No wonder Obama doesn’t want to talk to the press. I predicted 11.4% by March...my cousin who works on Wall St. says 11.6% by March and that it will probably bubble up to 11.8% by June and then back down to 10.8% by September with everyone having summer jobs.
I notice at the boutiques where I sell Watkins stuff at Christmas that tamales sell like crazy.
Perhaps the food items you mention would sell well at Christmas type boutiques.
I know it’s a few months off, but it’s something to think about.
I think so too...he said the reality is we are more like 17.6% right now and will be up around 18% by Spring...but playing the government numbers game he doesn’t see them going any higher publicly than 11.8%.
Thanks for your prayers. We are a family of very deep faith. Every prayer is for us is more precious than gold. We have always had a “just get by” kind of life because I stayed home with the kids. I don’t regret that decision for one millisecond though. Our oldest, 22, is a devout Catholic who is getting married next weekend to an incredible girl, our middle-just shy of 18, is off to seminary in the fall to become a Catholic priest, and I am finishing up the homeschooling of our youngest-16 as I await the priviledge of becoming a grandma in the next year or two. Life could not be better for us, though it would be nice if it were a bit easier financially.
God has always met our needs and most of our wants, but that is because our wants are not material. I have always prayed for my familys faith and health to be strong, and for my husband and I to have what we need to care for them. We always do. Now that they are grown, they truly are as scripture suggests, like olive branches around our table. I am so blessed! I was warned by many that raising a faithful family, especially with a child called to the priesthood,the attacks on our family would be hard, but that God will always provide a way. I can attest that truer words were never spoken, but it has grown our marriage, our faith, and that of our children. God knows what He is doing :)
I won’t be ready for that!
High unemployment could be a blessing in disguise in that it will fuel intense opposition to amnesty. Blacks, whites and legal hispanics all want jobs and I doubt they'll take too kindly to providing them to "undocumented" workers - a/k/a illegals. Republicans should run with it. But they won't...
“The number will not increase so long as people keep dropping out of the work force.”
When we have nobody working except government and everyone else has dropped out and started robbing banks then we will have zero unemployment. A true socialist paradise.
You will be surprised at how many groups are looking for something different to serve and how often they meet. Then, word of mouth takes off and you will be overwhelmed with orders.
A couple of ladies here have grown their business to where they have had to rent a space to cook everything. During Christmas they had to stop taking orders they were so busy.
BTW, some of the caterers here also do funerals. People who have full time jobs most of the time don’t have time to cook food to serve the family. They just order it and have it delivered. Just another suggestion.
Good luck! I hope you have great results!
“moderate citizens start clamoring for impeachment.”
Ditto’s. God Speed.
...”starting out with pierogis and stuffed cabbage.”