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News & ArtsFriday, February 5, 2010
Economy Unemployment Rate Falls
Posted by Charles Mudede on Fri, Feb 5, 2010 at 8:19 AM
Good news for Obama?
The outlook for jobs became a bit less bleak with January's unexpected decline in the unemployment rate, which fell to 9.7 percent from 10 percent as more people said they had jobs.Of course, this news has had no effect on the stock market.Still, Friday's unemployment report showed just how deep the job crisis remains. The government now estimates 8.4 million jobs vanished in the Great Recession, and economists think the nation would be lucky to get back 1.5 million of them this year. And they say it will take at least three to four years for the job market to return to anything like normal.
1
Good Morning Charles,
I just read that in the NYT. The country lost 20,000 jobs in January as well. I doubt it is good news for the President. Anyway one spins it, it remains bleak. This "recovery" is a jobless one. America is no longer a producer and hasn't been one in the classic sense for decades. It is an extraordinarily difficult task for any President to "create" jobs. More than 7 million have been lost in this Great Recession. We'll see the stats a year from now but I don't anticipate them getting much better.
I just read that in the NYT. The country lost 20,000 jobs in January as well. I doubt it is good news for the President. Anyway one spins it, it remains bleak. This "recovery" is a jobless one. America is no longer a producer and hasn't been one in the classic sense for decades. It is an extraordinarily difficult task for any President to "create" jobs. More than 7 million have been lost in this Great Recession. We'll see the stats a year from now but I don't anticipate them getting much better.
2
the markets are reacting to the Euro zone impacts and the China-US trade war actually.
Not everything is as it seems.
P.S.: If you had gold you should get out now.
Not everything is as it seems.
P.S.: If you had gold you should get out now.
3
8.4 Million Unemployed since Obama took office.
His administration says the stimulus kept another million off that list.
$800 Billion borrowed for stimulus.
1 million jobs.
$800,000 per 'saved' job....
Obamanomics.
America can't afford it.
His administration says the stimulus kept another million off that list.
$800 Billion borrowed for stimulus.
1 million jobs.
$800,000 per 'saved' job....
Obamanomics.
America can't afford it.
4
My guess is the unemployment rate dropped as people's benefits ran out and they fell off the roles. This is going to happen to me in May unless benefits are extended by Congress. My profession, architecture, currently has more like a 25% unemployment rate and firms aren't expecting to begin hiring again anytime soon.
It's not fair to say that people are "giving up" when it's more that they're being kicked off unemployment.
It's not fair to say that people are "giving up" when it's more that they're being kicked off unemployment.
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