U.S. Unemployment Rate Jumps to 8.1 Percent

Discussion in 'Current Events' started by toomuchtime_, Mar 6, 2009.

  1. toomuchtime_
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    toomuchtime_ Gold Member

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    The nation's unemployment rate topped 8 percent last month and the economy shed 651,000 jobs, according to government data released this morning, further evidence of the deepening recession that has devastated the stock market and home prices and triggered the largest government recovery effort since the Great Depression.

    The Bureau of Labor Statistics said the jobless rate rose from 7.6 percent in January to 8.1 percent in February, the highest rate in more than 25 years. An estimated 12.5 million Americans were unemployed in February, the data show, an increase of 851,000 since January.

    The government also revised sharply upward the number of jobs the economy lost in December and January to show a total of nearly 2 million jobs disappearing in the last three months. December saw the most job losses, according to the revised figures, with 681,000, significantly more than the previous estimate of 524,000. The number of jobs lost in January rose to 655,000, up from a prior estimate of 598,000.

    An additional 651,000 jobs disappeared last month, the government said, illustrating the profound challenges of launching an economic recovery as employers continue to slash payrolls in a desperate effort to control costs.

    Each of the last three months now shows more jobs lost than in any single month since October 1949, when the country was just pulling out of a painful recession, the government data shows. Economists say direct comparisons are difficult, however, because the labor force has grown significantly since the post-World War II period.

    U.S. Unemployment Rate Jumps to 8.1 Percent - washingtonpost.com
     
  2. sealybobo
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    sealybobo Diamond Member

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    So much for Michigan being in a one state recession, huh Mitt Romney?
     
  3. Skull Pilot
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    Skull Pilot Platinum Member

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    Barack Obama's Economic Policies Could Prolong the Recession - WSJ.com

    .
     
  4. sealybobo
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    sealybobo Diamond Member

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    Maybe US Corporations that went overseas should bring those manufacturing jobs back home, before things get even worse.
     
  5. Skull Pilot
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    Skull Pilot Platinum Member

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    Another myth. You think that by taxing US companies for foreign income is a good thing and that taxation will force companies to "bring jobs back" and you are wrong once again.

    Michael Boskin Says Barack Obama Is Moving Us Toward a European-Style Social Welfare State and Long-Run Economic Stagnation - WSJ.com

    And tell me, if you can, why would a company bring an operation, any operation, back to the US when they know that the current administrations tax happy agenda, most notably the very insidious and egregious cap and trade climate tax, would reduce not increase profitability?
     
  6. sealybobo
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    sealybobo Diamond Member

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    I didn't say tax them. I said bring the jobs back home.

    And why would they come home? Because we will tariff their imports if they don't. And we will let them keep the tax breaks they get now if they do come home.

    When gas was $4 a gallon, a lot of companies thought about coming home on their own, so it isn't out of the question that they can come back home skull.

    And for some strange reason, you and Bush like them leaving the US and taking the jobs with them.

    Or, how about Obama should give loans and tax breaks to companies that want to take over the work that these traitors took overseas? A little competition never hurt anyone, right? It'll lower prices too Skull and we know you right wingers are all about that.
     
  7. Skull Pilot
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    By bringing jobs back home as you say, they will automatically be taxed. So are you proposing NOT taxing those evil corporations if it means "bringing jobs back home"?

    You multiple personality disorder is showing again.

    You better change the terms of all of our WTO agreements then. And good luck with that.

    And when the cap and trade tax drives the price of gas up even higher than the evil oil companies ever did, all in the name of revenue, wouldn't it be better to pay $4 a gallon in another country?

    Can you make one post without mentioning Bush? I think you have a homo crush on him.

    Since when are you in favor of competition? Competition isn't fair remember?

    And nothing Obama does will lower prices on anything except your stock portfolio. the one thing you can count on is your expenses rising. So again why would a company come back?

    And seriously, why on earth would a company take a "loan" from the government when those loans are just an in for the government to buy a controlling interest in your company and tell you what you can and can't pay yourself.

    Again I submit that it will be less expensive for companies to leave the country and take even more jobs overseas than it will be to stay.
     
  8. Vel
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    Vel Gold Member

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    Let's put this in very simple terms so that even Obama voters understand. We'll call the U.S. government the "owner" and U.S. Business the "dog". If the owner stands on the front porch and hollers "Here doggy, doggy." and then beats the crap out of the dog when it comes up on the porch, the next time the owner hollers "Here doggy, doggy", that dog is going to hike a leg in the owner's direction and take off.
     
  9. sealybobo
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    sealybobo Diamond Member

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    Let me put it so even you can understand.

    The Corporations are the visiting team and the American people are the home team.

    Under Bush, we were the visitors and the Corporations had the home court advantage.

    Not only that, but the GOP Government were the refs the last 8 years and they were cheating for the corporations.

    Now we have fair refs. They aren't going to cheat for the home or visitors, but they sure aren't going to fall for it when the Corporations flop trying to pick up cheap fouls.

    Yes, the government is the referee and they set the rules of the game. If you don't like the game, then get out.

    And by the way sucker, if corporations and rich people aren't paying their fair share, then the tax burden falls on your dumb ass.

    What do corporations care about? Maxing profits. Correct? And they are always looking for more ways to cut costs. Correct? So they won't be happy, even if they pay zero taxes. Once they achieve that, they'll even try to get free money from the government...


    Because if we don't give it to them, another country will. Are you scared yet? Or if we don't give them what they want, they'll have to lay people off. Scared still?

    You are a sucker, plane and simple.

    No wonder our founding fathers warned us about the rich and corporations getting too powerful.

    The perfect argument against democracy is a simple 5 minute conversation with the average voter. That would be you dumbass. :lol:
     
  10. sealybobo
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    sealybobo Diamond Member

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    See, stupid people like you think its a black and white thing. Yes, sometimes tax them and sometimes give them a tax break. Depends on the situation.

    If a company is being taxed too much, give them a tax break. If not, don't. Who decides? Our government.

    Bush decided they were paying too much, and so did Reagan. Now we are bankrupt because the rich didn't pay their fair share of taxes. Niether did Corporations.

    Now if Bush didn't spend as much as he did, maybe he would have been right.

    Maybe he shouldn't have invaded Iraq?

    Same reason we aren't invading Sudan to rid that country of their evil dictator, is the same fucking reason we shouldn't have invaded Iraq. Too costly, and who you gonna replace the evil dictator with?
     

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