Cloud hangs over U.S. economy, hiring plans

[hvactec]

Job creation in October likely weakened in shadow of government shutdown

WASHINGTON (MarketWatch) — Flying blind is not easy for even the best of pilots. And right now, veteran economists find it almost impossible to tell how fast the U.S. is growing or how many new jobs are being created.

What’s obscured a clear view of the economy, of course, is October’s government shutdown. The nearly three-week disruption put hundreds of thousands of people out of work, made Americans more angry and anxious, and forced investors and businesspeople to hunker down until the standoff ended.

That’s why most of the upcoming data for October, like Friday’s normally crucial U.S. employment report, will be marked by asterisk. And even the first estimate of growth for the third quarter, which ended before the shutdown began, won’t be able to offer much clarity.

“We are going to need a couple of months because there is going to be so much noise in the data,” said Scott Anderson, chief economist of Bank of the West. “There are no signs of economic acceleration, but no signs of falling off the cliff, either.”

The October employment report and first read of third-quarter gross domestic product are the highlights on this week’s economic calendar. A smattering of reports from September that were delayed by the shutdown, such like consumer spending, are also on tap.

read more Cloud hangs over U.S. economy, hiring plans - Economic Preview - MarketWatch

 

[Rozman]

The economy prior to the short partial government shut down was poor at best....
I know Democrats will blame 5 years of dismal economic growth on that shut down.
But I think people,most people will know this.

 

[Mr. H.]

This economy will go nowhere until Obama is gone and a Republican is once again in the White House.

 

[Rshermr]

This economy will go nowhere until Obama is gone and a Republican is once again in the White House.

Yeah. Yeah. Bring back the republicans. Why, the worst three recessions of this century were all democratic, right???
Like the great recession of 1929, which caused the unemployment rate to go from about 3% to nearly 25% in 1933. The only depression we have ever had. Must have been a republican president, right. Had to be.
Lets check:

Herbert Hoover (1874-1964), America's 31st president, took office in 1929

. Uh, that's odd. It was Herbert Hoover, a REPUBLICAN!!! His predecessor probably caused the problem. Probably a democrat, right??? Let's see:

Calvin Coolidge became the thirtieth United States President (1923-29) when Warren Harding died suddenly.

Shit. Two MORE REPUBLICANS. Must be an oddity.

Lets forward to the next worst unemployment period. That was late 1982. Unemployment went from 7.3% in 1981 to 10.8% in late 1982. But....But.....we all know that was Ronny. Ronald Reagan, for Christ sake. But then it got better under Ronnie. After he raised taxes 11 times, borrowed like a drunken sailor, tripled the national debt, and spent stimulatively like a democrat. Shit. This is just not going well.

Well, lets see. When was the third worst unemployment rate. Oh yeah. Quite recently. 2008. The other really bad recession. Under some guy named W. Oh yeah. GW Bush. But, shit, another republican. RIGHT UP THROUGH THE GREAT REPUBLICAN RECESSION OF 2008.

YEAH. WE NEED ANOTHER REPUBLICAN PRESIDENT!!!!

 

[Rshermr]

The economy prior to the short partial government shut down was poor at best....
I know Democrats will blame 5 years of dismal economic growth on that shut down.
But I think people,most people will know this.

Probably not. Most people have a brain. Sorry about yours. Any idea of where you lost it???

 

[Meathead]

This economy will go nowhere until Obama is gone and a Republican is once again in the White House.

Yeah. Yeah. Bring back the republicans. Why, the worst three recessions of this century were all democratic, right???
Like the great recession of 1929, which caused the unemployment rate to go from about 3% to nearly 25% in 1933. The only depression we have ever had. Must have been a republican president, right. Had to be.
Lets check:

Herbert Hoover (1874-1964), America's 31st president, took office in 1929

. Uh, that's odd. It was Herbert Hoover, a REPUBLICAN!!! His predecessor probably caused the problem. Probably a democrat, right??? Let's see:

Calvin Coolidge became the thirtieth United States President (1923-29) when Warren Harding died suddenly.

Shit. Two MORE REPUBLICANS. Must be an oddity.

Lets forward to the next worst unemployment period. That was late 1982. Unemployment went from 7.3% in 1981 to 10.8% in late 1982. But....But.....we all know that was Ronny. Ronald Reagan, for Christ sake. But then it got better under Ronnie. After he raised taxes 11 times, borrowed like a drunken sailor, tripled the national debt, and spent stimulatively like a democrat. Shit. This is just not going well.

Well, lets see. When was the third worst unemployment rate. Oh yeah. Quite recently. 2008. The other really bad recession. Under some guy named W. Oh yeah. GW Bush. But, shit, another republican. RIGHT UP THROUGH THE GREAT REPUBLICAN RECESSION OF 2008.

YEAH. WE NEED ANOTHER REPUBLICAN PRESIDENT!!!!

What good has a Democrat president done in the last 5 years? You are pretty much limited to the hackneyed Republican obstructionism mantra, which means almost nothing. Before you say it, we know that the recovery is just around the corner as it has been since our affirmative action president took over, ha ha!

Time is running out. High unemployment, increased poverty, food stamps. Obamacare and mounting scandals points to a legacy of failure. This, I trust, is not the Hope & Change and sought by those who voted for the Age of Obama.

 

[Geaux4it]

All the problems with our economy and the country in general are because of Barack Obama. Inept, unqualified POTUS

-Geaux

 

[expat_panama]

This economy will go nowhere until Obama is gone and a Republican is once again in the White House.

...Herbert Hoover (1874-1964)... ... Calvin Coolidge became the thirtieth United States President (1923-29) ...

Return to Earth time. This is what we got for average unemployment rates available from the Fed's website (FRED Graph - source: BLS.gov:

1993-2000 5.2%
2001-2008 5.3%
2009-2013 8.8%​

We got to change policies back from the curent insanity. Sure, we'd be even happier with tax'n'spending levels we had in the '90's but we'll settle for what we had before the '08 election. After all, it was the same employment situation.

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