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Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,766,887 times
Reputation: 3587
Quote:
Originally Posted by Soccersupporter
WASHINGTON (AP) -- The nation's unemployment rate jumped to 8.5 percent in March, the highest since late 1983, as a wide swath of employers eliminated 663,000 jobs. It's fresh evidence of the toll the recession has inflicted on America's workers, and economists say there's no relief in sight.
Jobless rate bolts to 8.5 percent, 663K jobs lost - Yahoo! Finance (http://finance.yahoo.com/news/Jobless-rate-bolts-to-85-apf-14841219.html?sec=topStories&pos=1&asset=TBD&ccode =TBD - broken link)
Most people know who started this and it was not the Democrats.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,766,887 times
Reputation: 3587
We are about to come out of this anyway. The reports coming in are looking up and the DJIA gains reflect that. These reports are LEADING indicators. Employment is always a LAGGING indicator. Most employers do not like to lay off employees and usually do so as a last resort because it cost them in unemployment insurance. When the economy does begin to recover, employers who did lay off are not so quick to hire because they want to be sure the recovery is going to stick. The most important thing to watch is the overtime reports which are beginning to rise because employers resort to overtime before they start hiring again. I think by the end of summer we will see hiring start to pick up steam.
Hmmm... the highest unemployment rate since when?....Oh. late 1983.
Who was president in 83.... Reagan?
Have historians deemed that Reagan created that skyrocketing unemployment rate or have they deemed that he inherited a liberal-caused recession and took actions to end that recession in 1983 and open an era of prosperity? Yes. The latter.
In your quest to watch the nation continue to fail so you can say "I told you so", perhaps it would do you well to understand a little about the economy. Jobs are ALWAYS the very last aspect of an economy to recover. Housing markets, stocks, consumer confidence.... these are the initial indicators. These are showing strength.
So, yes. This problem Obama inherited remains (from a political perspective) on Bush as a conservative-caused recession just like the 1983 unemployment rate remained on Carter as a liberal caused one.
Let's ALL hope the economy continues to improve and that jobs eventually follow. It does you no good to gloat about people losing their livelihood to score a political point.
Many are really suffering. We need to get in this together.
The principal LEADING indicators are the money supply (M2), average weekly hours in manufacturing, and the interest rate spread (10-year Treasuries minus the fed funds rate).
The principal CONCURRENT indicator is employees on non-ag payrolls.
The principal LAGGING indicators are the prime rate, the CPI for services, and the ratio of consumer debt to personal income.
Partisan gains? If it were up to me both parties should be kicked out of DC next election. A horrific example of partisan gain is when Dems drooled over the hope of loosing more men and women in Iraq and loosing the war, the economy plummeting and all to advance their socialist agenda. Now that is sick.
Links please. Any link, other than Rush Limbaugh's hatred, to back up these assertions!
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