Friday's Grim Jobs Report

Discussion in 'Economy' started by sealybobo, Jan 9, 2009.

  1. sealybobo
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    sealybobo Diamond Member

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    Grim job outlook turns bleaker
    Even with massive spending, job market likely won't recover until 2010.

    Friday’s employment report — showing another half million jobs lost in December — confirms an already bleak outlook for the job market and adds urgency to President-elect Barack Obama's plan for a massive economic stimulus package.

    But analysts say that even with fresh federal stimulus of $775 billion or more the job market probably won’t pick up again until early 2010.

    The U.S. unemployment rate jumped to 7.2 percent in December, the highest since early 1993. For all of 2008, the economy lost a total of 2.6 million jobs. That was the most in one year since 1945, when nearly 2.8 million jobs were lost.

    Some 1.9 million of those jobs were lost in just the last four months of the year.


    Grim job outlook turns bleaker - Eye on the Economy- msnbc.com

    Way to go Bush. Why don't we send some more jobs overseas. And while we are at it, lets continue to hire illegals for jobs Americas will do.
     
  2. elvis
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    elvis BANNED Supporting Member

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    Clinton deregulated the banks and signed Nafta, and Obama is in favor of free-trade agreements. "Ohioans cling to antitrade in their bitterness"
     
  3. Paulie
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    Paulie Platinum Member

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    Apparently it turned out to be not as grim as the whisper on the street leading up to it.
     
  4. Zoomie1980
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    Zoomie1980 Senior Member

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    Even if the gov't did nothing, things will be turning around by fourth quarter... Most companies that aren't already gone are in decent financial state and should weather the storm. Confidence will turn, we simply like to consume too much to ration ourselves for too long. And that will have nothing to do with gov't. $775 Billion is chump change in the global economy, so it won't amount to anything. Most will do exactly what they did last time, pay down a credit card....
     

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