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One year ago, we were losing over 700,000 jobs per month and one year later are beginning to add jobs, yet some people refuse to admit that the employment situation is improving. Your chart clearly demonstrates the gradual recovery that we have been seeing over the past few 12 months. We're still not where we need to be, but we're definately getting there.
Some people are so blinded by their preconceived notions that all of the data in the world would not change their minds.
Yup.
No one is saying things are wonderful - but the fact is (as the unemployment rate graph in Finn_Jarber's post shows) we ARE on a recovering track and things are looking better each and every month.
Are there problems and challenges yet?
Of course - but so far, so good.
One year ago, we were losing over 700,000 jobs per month and one year later are beginning to add jobs, yet some people refuse to admit that the employment situation is improving. Your chart clearly demonstrates the gradual recovery that we have been seeing over the past few 12 months. We're still not where we need to be, but we're definately getting there.
Some people are so blinded by their preconceived notions that all of the data in the world would not change their minds.
Well here's data..
One year ago we had 2.1 million people on the emergency unemployment rolls.
One year later we have 5.8 million people on the emergency unemployment rolls.
Can I quote you ?
"Some people are so blinded by their preconceived notions that all of the data in the world would not change their minds."
Opinion there or do you have links to back up that partisan statement that Republicans lost "HUGE" amounts of money ?
The people on this boad are proof of it. When DOW was in the 6000s they said they were pulling everything out because they thought it was going to hit 2000 or less, and that unemployment was going to be 15-20%, and the dollar was going to be worthless. Well, now DOW has rallied near 100% gain, so those people DESTROYED their investments. If you go back and read posts from a year ago, you'll see what I mean, and you'll also see there were people who saw the opportunity and got into the market, as opposed to getting out of it.
If they did what they said what they were going to do, which is pull their money out of the stock market, then they lost HUGE.
The people on this boad are proof of it. When DOW was in the 6000s they said they were pulling everything out because they thought it was going to hit 2000 or less, and that unemployment was going to be 15-20%, and the dollar was going to be worthless. Well, now DOW has rallied near 100% gain, so those people DESTROYED their investments.
If they did what they said what they were going to do, which is pull their money out of the stock market, then they lost HUGE.
Oh..ok so it is your opinion.
There's also a lot of smart ones that speculated rather than invested and made out well.
You should visit the Business and Finance forum where economics, the markets and other financial issues are discussed without politics.
I said THOSE WHO PUT THEIR MONEY WHERE THEIR MOUTH WAS, and then I told you where their mouth was. And you know very well what I am talking about.
As I recall you were among the pessimists back then, as you are today. Did you put your money where your mouth was, or did you say one thing, and then do the opposite with your money?
One year ago we had 2.1 million people on the emergency unemployment rolls.
One year later we have 5.8 million people on the emergency unemployment rolls.
Can I quote you ?
"Some people are so blinded by their preconceived notions that all of the data in the world would not change their minds."
Well DUH!
As long as there was net job losses each month as opposed to net job gain that emergency unemployment number was going to go UP. It doesn't take a rocket scientist to figure that out. That number by the way was growing long before Obama was sworn in. The country had dropped into recession almost a full year before Obama was even elected so those "long term" unemployed people were ALREADY starting to pile up.
The fact is however, that NOW (that we have POSITIVE job growth) the number of people on the emergency unemployment rolls should begin (over the next few months) to start to decline.
As I said - it don't exactly take a rocket scientist to figure that out.
I said THOSE WHO PUT THEIR MONEY WHERE THEIR MOUTH WAS, and then I told you where their mouth was. And you know very well what I am talking about.
As I recall you were among the pessimists back then, as you are today. Did you put your money where your mouth was, or did you say one thing, and then do the opposite with your money?
I'm hedged right now but since you asked..yeah I got out but I do trade. I'm not invested long term. I will once the bottom hits.
Many good plays happened after the crash of 1929..those with cash to spend made millions.
Bought BAX when CDC decided swine flu was dangerous enough to order million of doses. Sold when swine flu turned out NOT to be the next Spanish Flu.
Rode GLD for a while when China ranted how the US was spending too much.
Invested in Canroys while the oil speculation drove up gas prices.
Those are 3 examples. I got out before the crash and preserved my capital. I'm in and out as I see ups and downs. I didn't lose any capital..when Bear went belly up I move out of stocks so I missed the crash.
Series 7 license and 10 years working on Wall Street in NYC as an assistant analyst in the Research Dept. so I do my own stock pickings.
National debt yes we are currently at a lower % of GDP as we were in 1947. But only by about 30% for total national debt. and we have a 12% deficit so that is what 3 years and we will have a higher national debt than in 1947.
One year ago, we were losing over 700,000 jobs per month and one year later are beginning to add jobs, yet some people refuse to admit that the employment situation is improving. Your chart clearly demonstrates the gradual recovery that we have been seeing over the past few 12 months. We're still not where we need to be, but we're definately getting there.
Some people are so blinded by their preconceived notions that all of the data in the world would not change their minds.
http://boombustblog.com/201001141278/Are-the-Effects-of-Unemployment-About-To-Shoot-Through-the-Roof.html (broken link) Look at the non seasonally adjusted numbers. They are way different than the seasonally adjusted numbers.
Private-sector employers shed 23,000 jobs in March, surprising economists who expected job growth last month and raising doubts that Friday's government report on March unemployment will be as positive as hoped.
Forecasters expected the private sector to add 40,000 jobs last month. But the ADP Employer Services report, released on Wednesday, said otherwise, underlining the shaky nature of the economic recovery.
Big losers in the ADP report were the construction industry, which lost 43,000 jobs in March, and factories, which shed 9,000 jobs. On the plus side, service providers added 28,000 workers last month.
The ADP number does not always correlate to the government's unemployment figures. However, because ADP counts only private-sector employment, not government jobs, it may show a clearer picture of the state of U.S. joblessness. Friday's government report will be inflated by as many as 100,000 new temporary jobs -- workers hired for this year's census. Throughout the course of this year, the Commerce Department expects to hire more than 600,000 census workers, whose jobs will end when the survey does.
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