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At the end of the day nobody cares what's said on an internet forum.
WHAT???? You're kidding right?!? That just can't be true!! It can't be! All this time, all this wisdom, all this hatred, and you're telling me nobody cares?!?!
WHAT???? You're kidding right?!? That just can't be true!! It can't be! All this time, all this wisdom, all this hatred, and you're telling me nobody cares?!?!
For all the Obamabashers etc out there who have endlessly complained that the good economic news that's come up over the last few months is meaningless because unemployment keeps increasing - well, here's the first indication that overall unemployment (NOT just NEW CLAIMS (as has been happening for several months now - but OVERALL unemployment)) has started to drop. This is the first time in nearly 4 years that that's happened. This is big news folks.
This is usually the LAST thing to recover in any recovery - and it seems to be starting to happen - following a whole bunch of other, earlier positive signs.
"WASHINGTON - The number of people on the unemployment insurance rolls fell slightly last week for the first time in 20 weeks, while the tally of new jobless claims also dipped, the government said Thursday. "
And no, FOX News is NOT yet reporting it. As usual, good economic news is now being report first on Left-leaning MSNBC while Right-leaning FOX news drags it feet - but even THEY will report it any time now.
Ken
Lets see if they can apply their logic to both sides of the fence.
Don't hold you breath. When inflation hit 12% and interest rates 15% it will somehow be Bush's fault.
It's been in the cards and has been for some time. None of this will be easy and that's what people like you don't want to hear. You cheered from the sidelines as Bush spent like a drunken sailor for years and now the Amex bill has come in the mail and it's time to pony up. In reality you want it both ways and in order to live that lie you simply blame Obama rather than admit fault of your loser hero Bush. Living life with your head in the sand never felt so good 'eh?
It's been in the cards and has been for some time. None of this will be easy and that's what people like you don't want to hear. You cheered from the sidelines as Bush spent like a drunken sailor for years and now the Amex bill has come in the mail and it's time to pony up. In reality you want it both ways and in order to live that lie you simply blame Obama rather than admit fault of your loser hero Bush. Living life with your head in the sand never felt so good 'eh?
Excuse me but Obama is in the process of racking up more debt than every previous adminisrations combined and you come here lecturing me about Bush's deficits? Yikes!
Less Jobs cut but the unemployment rate higher then expected
Job Losses at 345,000, Less Than Forecast; 9.4% Rate - Economy * US * News * Story - CNBC.com (http://www.cnbc.com/id/31121301 - broken link)
Please explain how this happens.
That I can't tell you for sure - I don't know the details about how they work the numbers out - but my guess is that as long as the new jobs cuts exceed the number of jobs created it will ADD to the overall unemployment rate. I don't know how many new jobs are created each month, but it almost certainly is less than 345,000 - hence the increase in the total unemployment rate. That would be my guess anyway.
In regards to the NEW job losses, as I said yesterday - the number is dropping - and pretty dramatically actually - and THAT is a GOOD sign - one that (if it continues) will soon begin to eat into the TOTAL unemployment numbers and start bringing that very high 9.4% number back down. Last I heard, analyists expected that to happen sometime next year.
Ken
Last edited by LordBalfor; 06-05-2009 at 07:28 AM..
That I can't tell you for sure - I don't know the details about how they work the numbers out - but my guess is that as long as the new jobs cuts exceed the number of jobs created it will ADD to the overall unemployment rate. I don't know how many new jobs are created each month, but it almost certainly is less than 345,000 - hence the increase in the total unemployment rate. That would be my guess anyway.
In regards to the NEW job losses, as I said yesterday - the number is dropping - and pretty dramatically actually - and THAT is a GOOD sign - one that (if it continues) will soon begin to eat into the TOTAL unemployment numbers and start bringing that very 9.4% number back down. Last I heard, analyists expected that to happen sometime next year.
Ken
The 345,000 is a very encouraging number because it is about 190,000 less then expected. And it is down significantly from the last several months. The rate is probably going to max around 10.2-10.5% and then agonizingly slowly recede.
If anyone believes the unemployment figures not yet released today they are just fooling themselves....
Of course what no-one ever seems to notice is when the figures are 'revised' some time afterward,almost always upward and with little fanfare.
For a truer picture look to the U-6 figures,the ACTUAL unemployment rate.
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