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 ...
Sounds like another “worse than expected”, DemocRAT moment.
It'll be ugly.
The number will not increase so long as people keep dropping out of the work force.
This means, of course, that we must expand the H1-B program and extend amnesty to “undocumented” workers. All in the name of competitiveness.
Last month the Administration’s journalist cheerleaders were claiming that unemployment was shrinking in December, but the actual numbers didn’t pan out that way. The spending ourselves out of recession strategy is not working. Seems like we’re getting close to a time when even moderate citizens start clamoring for impeachment.
Where are all those ever-promised “green” jobs, nobama???? the only kind of green anyone wants is the folding kind. you, your angry, unattractive wife and privileged, arrogant children need to leave washington in disgrace. as you all wanted to, you are destroying America. you shameless incompetent socialist fascists.
I am one of those uncounted. Left a part time job several months ago; my body is just getting too old to unload trucks. Doc said enough, so I just left. Been looking for another-there are really not too many to be had. When I do find one, I am not “qualified” because I was a stay at home mom for almost 20 years. The recent administration experience plus 3 years running hubbys company are not enough to get me in the door so I stay home.
That said, I am an optimist, and I see a silver lining here. As more and more folks have to get by on less and less, and survival becomes an issue (in a real sense, like finding food and shelter for your children) I see a definate return to that which matters most- God fearing family.
I spend my days at peace with my life, even though I am on the fast track to financial destruction without a job. I pray more, especially while kneading dough for homemade bread, among other things I am reaquainting myself with for when the time comes. I am hunkering down to prepare my family for whatever comes all the while watching Gods providence over my family. He IS in control. We have gotten too far from His will, and like the loving father of a spoiled, willful child, He is not sparing us the rod of correction. It will all be OK, but it will not be pleasant.
11% is gonna freak peeps out BIGTIME
Anyone who believes it is only 10% is thick enough to believe that 0bama is not a dangerous communist.
Ever thought of selling your bread or catering meals for business meetings or even to office workers? That is how Paula Deen started out.
If the bottom tax bracket reverts to 15% at the end of 2010 many ‘’taxpayers’’ will see a 40-50% increase in their taxes,,,0’b won’t help them either.
For the past couple of years, many have propagandized for our complacency and pride, saying that Chinese consumerism would not rise.
China Ends U.S.s Reign as Largest Auto Market (Update2)
[Its from Bloomberg, so dont post any content from it here.]
We should not have been complacent or prideful. We should have been doing real work with more than ourselves in mind.
They really mean 18%.The recent college grads voted overwelmingly for the marxist and cant find jobs.Well,well,well I’m all broke up over that.
After Christmas layoffs?
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.”
freezing my butt off in south florida, but mail orders are a definate possibility :)
Hey now, don’t lump us all together. :P
Contrary to popular belief, there are college students that didn’t vote for Obama, like myself. But that doesn’t mean I won’t reap what the rest of my generation sowed, unfortunately.
It’s very frustrating knowing that I probably won’t be able to find work after I graduate, due to other people’s poor decisions. (I am finishing up a Physics/Business degree. No Art History or Women’s Studies here.)
but wombtotomb..you nailed it.....if we can learn to live simply we would probably all be happier....less bills coming in....less pressure....
good luck to you......prayers as well...
me....I have to really plan ahead....I never could get the cabbage leaves trimmed just right so they rolled up nice...
made pierogis for Christmas with my mothers picture on the refrigerator and I know she was staring down with near horror from heaven at my "technique"....:)
Your technique is perfect, no doubt. It is your hands, lovingly creating a form of nourishment for your family. I know my mother (thankfully still with me, especially after a nasty bout of breast cancer) loves watching me make them when I am lucky enough to get a visit from her (a LOT of miles between us, but no distance at all :).
That is the otherside of the coin for sure.Hope you make it but you have to admit that most did vote for this did they not?It sucks for the rest of us out here as well in the small business world.Good luck to you.
Looks like a Jon Cary “Help it’s on it’s way!” moment.