Jobless rate jumps to 7.2 percent in December

[vec101]

Originally Posted by saganista

Yes...peaked at 7.8% in June 1992...

You got me curious.... will leave it to others to analyze....

1920 5.2 ...........1928 4.2 .............1930 8.7 ............1932 23.6 ............1934 21.7 ............1936 16.9 ..........1938 19.0
1940 14.6 ..........1942 4.7
1950 5.3 ............1956 4.1 .............1958 6.8
1960 5.5
1970 4.9 ............1972 5.6 ............1976 7.7 ...........1978 6.1
1980 7.1 ............1982 9.7 ............1984 7.5 ...........1986 7.0 ...............1987 6.2 ..............1988 5.5 .............1989 5.3
1990 5.6 ............1991 6.8 ............1992 7.5 ...........1993 6.9 ...............1994 6.1 ..............1995 5.6 .............1996 5.4
1997 4.9 ............1998 4.5
2000 4.0 ............2001 4.7 ............2002 5.8 ............2003 6.0 ..............2004 5.5 ..............2005 5.1 ..............2006 4.6
2007 4.6

Data from http://www.infoplease.com/ipa/A0104719.html also good data at http://www.data360.org/dsg.aspx?Data_Set_Group_Id=44

[KevK]

Thank GOD Almighty that in 10 days the criminal Republicans will be gone. Then we can begin to fix the messes they left.

[BigJon3475]

And I thought with Blago and Richardson were making their own little pretty mess.

[KevK]

Originally Posted by Icy Tea

9% by next year, maybe higher the year after that.

I do not think we are headed to 1933 again but I do think we might see 1982 again. 1933 was The Great Depression. 1982 was The Great Recession. I recall unemployment being about 10% back then. We could see it that high again.

[jojajn]

Originally Posted by bbkaren

I try not to politicize this aspect of it. Things are bad worldwide.

But if it makes you feel good to have a couple extra moments of Bush bashing, have at it.

Here is what the Bush administration did to U.S. jobs.

Treasury Chief Defends Outsourcing of U.S. Work - New York Times

[EinsteinsGhost]

Originally Posted by LIS123

If you think King Obama is going to fix this economy on the spot, keep dreaming. The main tool in his arsenal is a printing press and he's ready to use it. Our dollars will be a lot weaker when he runs for re-election than when he is inaugurated!

And we can thank Bush for his legacy that Obama inherits (and republicans will be quick to blame him for it).

[EinsteinsGhost]

Originally Posted by KevK

I do not think we are headed to 1933 again but I do think we might see 1982 again. 1933 was The Great Depression. 1982 was The Great Recession. I recall unemployment being about 10% back then. We could see it that high again.

If we used the same standard that we used in 1930s to measure unemployment, the number right now would be about 16.5%. LBJ can be credited for coming up with the idea of showing lower unemployment numbers than the reality.

During the Great Depression, unemployment was at about 24%. FDR's New Deal is said to have brought it down to 15%. It went way down with the arrival of WWII.

[KevK]

Originally Posted by EinsteinsGhost

If we used the same standard that we used in 1930s to measure unemployment, the number right now would be about 16.5%. LBJ can be credited for coming up with the idea of showing lower unemployment numbers than the reality.

During the Great Depression, unemployment was at about 24%. FDR's New Deal is said to have brought it down to 15%. It went way down with the arrival of WWII.

Perhaps but usually the TRUE unamployment rate is found by taking the OFFICAL rate, dividing it in half and adding it to the official rate. So if unemployment is 7%, 7/2=3.5+7=10.50 so the real rate is probably 10.5%.

[jojajn]

Originally Posted by KevK

Perhaps but usually the TRUE unamployment rate is found by taking the OFFICAL rate, dividing it in half and adding it to the official rate. So if unemployment is 7%, 7/2=3.5+7=10.50 so the real rate is probably 10.5%.

And add to that the unemployment that will be increased when the soldiers come back from Iraq.

[vec101]

I'm going to play Devil's Advocate here and throw out this link: American Thinker: Why the Mortgage Crisis Happened

Don't kill the messenger - just throwing this out for some food for thought. If nothing else, pick through the rhetoric and read the facts. Pretty interesting.

Names Obama as part of the reason for mortgage crisis stemming from his activities with Acorn back in the 1990's. Now wouldn't that be ironic if his actions back then were a part of the reason for the mortgage crisis which is part of the reason for the current economy? Ironic if he was part of the cause and now is looked to all as being a prime factor in fixing the existing problems?