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President Barack Obama on Tuesday declined to predict how high unemployment will climb but made clear he expects it to keep worsening for a while as hiring lags behind other signs of economic recovery.
"How employment numbers are going to respond is not year clear," the president said on a day when he was headed to Michigan, home of a particularly battered economy. "My expectation is that we will probably continue to see unemployment tick up for several months."
Well, now hold on there. Didn't you say your stimulus bill would keep unemployment below 8% and would create millions of jobs?
Interesting. It appears that many of the less populated states are holding on to a relatively low unemployment rate. This explains why the current overall unemployment rate is at 9.7% when a large portion of the states are well above 10%. Averages are a good measure, but the real pain comes from analyzing the states with unemployment rates much higher than the national average. To me, this tells the bigger story.
let's see the automakers in Michigan were given a Fed bailout by Bush last fall yet one of the automakers managed to completely shut down their plants in May and file bankruptcy so why didn't the auto bailout work that Bush gave them last year? Don't try to pin the economic malaise of Michigan on Obama. By the way unemployment rates are a lagging indicator as every body except you seems to know.
Where are these jobs. What type are they? Summer will be over in a few months.
I know some jobs are created to build roads, bridges, etc. But don't you need to have some experience in doing that? Is Obama going to retrain nurses, factory workers, etc... to build roads and bridges?
And those Green jobs. Again training will be required, especially if your going to replace the jobs taken from the non-green jobs.
Small business is where the job creation could come from if they are given a break. Those jobs (while some require training) at least could last a very long time, while the others seem to be short term.
ummm, Reagan's was the worst at 13%. We are now at 10%. There is no indication of slowing down at the moment.
You do the math.
I was doing some more research into Regan's numbers, I found several google links saying that it only reached 10.8% under Reagan.
Not sure which number is correct yet.
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