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Old 06-03-2009, 07:20 AM
 
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U.S. planned layoffs fall to lowest in 8 months | Markets | Markets News | Reuters
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Old 06-03-2009, 07:29 AM
 
Location: SE Arizona - FINALLY! :D
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Yup, as I said, as time goes on there will be more and more improvement in the situation.
I know the Obamabashers are not happy about that - but, oh well.

Ken
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Old 06-03-2009, 07:34 AM
 
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if this is the 4th straight month of such good news (according to the article), why is the unemployment rate increasing even with all of the government spending?
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Old 06-03-2009, 07:42 AM
 
Location: San Diego
5,319 posts, read 7,866,570 times
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Quote:
Originally Posted by pghquest View Post
That kinda happens when you change out the stocks on the DOW

I can put Buffets stock on the DOW and it would jump to 100,000 overnight.. WOW, thats progress..
Ummm .... yeah.

My quote for Dow being up 2.79% to 8,729 was on June 1.

Travelers, Cisco open higher after added to Dow | Markets | Hot Stocks | Reuters

Quote:
NEW YORK (Reuters) - Shares of Travelers Co (TRV.N) and Cisco Systems Inc.(CSCO.O) opened higher on Monday after the companies were added to the Dow Jones Industrial average.


Citigroup Inc (C.N) was little changed after the bank was removed from the prestigious Dow index to be replaced by Travelers. Cisco will replace General Motors Corp (GM.N), which filed for bankruptcy.


The changes will be put into effect at the opening of trading on June 8.


Travelers was up 1.8 percent to $41.37 and Cisco gained 3.1 percent to $19.07.
So the Dow "magically" goes up a week before these stocks are even in it?

Monday's huge rise had absolutely nothing to do with the many good news reports listed in Ken's post?
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Old 06-03-2009, 07:47 AM
 
Location: SE Arizona - FINALLY! :D
19,872 posts, read 22,803,639 times
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Quote:
Originally Posted by floridasandy View Post
if this is the 4th straight month of such good news (according to the article), why is the unemployment rate increasing even with all of the government spending?
Because until the number of people still losing jobs is LESS than the number of people getting jobs the total number of people looking for jobs is going to INCREASE.

It's really not all that complicated. Here's some information about the job situation back in December (as new job losses were still increasing) for example (note the source is the Conservative Heritage Foundation - for those of you who simply discredit any source that's not Right-leaning):

"The Bureau of Labor Statistics reported that 524,000 jobs were lost in December, but that number is not fully accurate. The U.S. economy is very dynamic, even during a recession. Millions of jobs are created and lost every month. Employers shed a net of 524,000 jobs in December; total job losses were much higher. Roughly 4.4 million workers leave their jobs each month--either voluntarily or involuntarily--but employers hire millions of new workers as well.[1] Of the millions of jobs created and lost in December, the job losses outnumbered newly created jobs by 524,000."

U.S. Labor and Employment Report: Jobs Report for December Underscores Need for Pro-Growth Economic Policies

New job loses and total unemployment are 2 DIFFERENT things - related of course, but nevertheless DIFFERENT. New job losses can be dropping (as they have been) while total unemployment still increases (as it has been). That situation will continue until the total number of NEW job losses (as evidenced by new unemployment claims) falls under the threshold where the combined numbers of total unemployed and newly unemployed are less than the number of new jobs created. At that point total unemployment will start to drop. Most economists expect that point to be reached sometime next year.

Got it?

Ken

PS - most of the new government spending has yet to "hit the streets" - when it does, improvement will start to excellerate.
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Old 06-03-2009, 07:59 AM
 
12,870 posts, read 13,149,992 times
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Quote:
Originally Posted by LordBalfor View Post
Because until the number of people still losing jobs is LESS than the number of people getting jobs the total number of people looking for jobs is going to INCREASE.

It's really not all that complicated. Here's some information about the job situation back in December (as new job losses were still increasing) for example (note the source is the Conservative Heritage Foundation - for those of you who simply discredit any source that's not Right-leaning):

"The Bureau of Labor Statistics reported that 524,000 jobs were lost in December, but that number is not fully accurate. The U.S. economy is very dynamic, even during a recession. Millions of jobs are created and lost every month. Employers shed a net of 524,000 jobs in December; total job losses were much higher. Roughly 4.4 million workers leave their jobs each month--either voluntarily or involuntarily--but employers hire millions of new workers as well.[1] Of the millions of jobs created and lost in December, the job losses outnumbered newly created jobs by 524,000."

U.S. Labor and Employment Report: Jobs Report for December Underscores Need for Pro-Growth Economic Policies

New job loses and total unemployment are 2 DIFFERENT things - related of course, but nevertheless DIFFERENT. New job losses can be dropping (as they have been) while total unemployment still increases (as it has been). That situation will continue until the total number of NEW job losses (as evidenced by new unemployment claims) falls under the threshold where the combined numbers of total unemployed and newly unemployed are less than the number of new jobs created. At that point total unemployment will start to drop. Most economists expect that point to be reached sometime next year.

Got it?

Ken

PS - most of the new government spending has yet to "hit the streets" - when it does, improvement will start to excellerate.
that was a december report. if you look at the new york times recent report (hardly a conservative paper) you will see that their forecast is not at all good for an early economic recovery:

The economy is in shambles. Nearly 540,000 jobs were lost in April, a horrifying number. The unemployment rate rose to 8.9 percent. Even the most optimistic observers expect the job losses to continue, although, hopefully, at a slower pace. The unemployment rate is expected to keep on climbing, like some monster from the movies, toward double digits.

We are stuck in what is — or will soon be — the worst economic downturn since the 1930s. Newspapers and the U.S. auto industry are on life support. The employment picture for even the most well-educated Americans — men and women with four-year college degrees or higher — is the worst on record.
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Old 06-03-2009, 08:05 AM
 
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bernanke on c-span now -http://www.c-span.org/Watch/C-SPAN3_wm.aspx
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Old 06-03-2009, 08:13 AM
 
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UPDATE 1-US firms may cut another million jobs-M. Advisers | Markets | Markets News | Reuters
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Old 06-03-2009, 08:20 AM
 
Location: SE Arizona - FINALLY! :D
19,872 posts, read 22,803,639 times
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Quote:
Originally Posted by floridasandy View Post
that was a december report. if you look at the new york times recent report (hardly a conservative paper) you will see that their forecast is not at all good for an early economic recovery:

The economy is in shambles. Nearly 540,000 jobs were lost in April, a horrifying number. The unemployment rate rose to 8.9 percent. Even the most optimistic observers expect the job losses to continue, although, hopefully, at a slower pace. The unemployment rate is expected to keep on climbing, like some monster from the movies, toward double digits.

We are stuck in what is or will soon be the worst economic downturn since the 1930s. Newspapers and the U.S. auto industry are on life support. The employment picture for even the most well-educated Americans men and women with four-year college degrees or higher is the worst on record.
Nothing new about any of that news. Did I say we weren't in an AWFUL recession? I don't think so - quite the contrary actually. Obama inherited the worse recession in the better part of a century and it's not going to clear up overnight. It WILL clear up though. Those April unemployment numbers - though terrible - are better than the months previously and in general those numbers have been improving each month. Once the stimulus money kicks in they will improve even faster. Most economists agree on that - as they agree the recession is bottoming out and a recovery is on the way. The only really big disagreement is the STRENGTH of the coming recovery - and there there IS disagreement (largely dependent upon the economists economic and political philosophy).

The newspaper industry you mention is special case. They are not only hammered by the recession - but also by the increasing number of Americans choosing to get their news mostly from TV and the web instead of on printed paper. Regardless of whether or not there was a recession, newspapers were going to be in a lot of trouble.

Ken
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Old 06-03-2009, 08:24 AM
 
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yikes! the one thing we have to try to do is help each other out in any way we can as individuals and i am sure that most americans will do their best to do so.
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