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The number of unemployed persons increased by 787,000 to 14.5 million in May, and the unemployment rate rose to 9.4 percent.
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Nonfarm payroll employment fell by 345,000 in May, about half the average monthly decline for the prior 6 months, the Bureau of Labor Statistics of the U.S. Department of Labor reported today.
Check out this chart; Take note - this chart was used by obama's economic team to market the stimulus. The "dots" are the actual numbers, which clearly show how wrong they are/were.
Not only has unemployment not followed the predicted dark blue line after passing the Obama/Pelosi Porkulus package, we have actually exceeded the boogeyman light blue line for unemployment. We are heading towards double-digit unemployment and doing that while we incur the massive debt of the unstimulating stimulus package.
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Why is this important? It demonstrates that the President and his economic advisers have gotten pretty much everything about this economic collapse wrong.
I thought this was interesting. You don't see this info very often.
If laid-off workers who have given up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been 16.4 percent in May, the highest on records dating to 1994.
Sanrene, thats not fair, using charts and pretty pictures to get a point acrossed!!!
I'm waiting for liberals to come and proclaim, hey, the number of job losses fell this month over last, everything is getting better.
I wonder how much of the increased unemployment is directly related to the stimulus and steps being taken by the Obama administration, (like GM, and Chrysler for example). After all, taxes on the rich went up,they have to lay people off to pay bills, and the stimulus bill needs to be paid for..
Check out this chart; Take note - this chart was used by obama's economic team to market the stimulus. The "dots" are the actual numbers, which clearly show how wrong they are/were.
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