Unemployment at 4-year high

Discussion in 'Economy' started by Manuel, Aug 1, 2008.

  1. Manuel
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    Manuel *****

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    Unemployment rate hits 4-year high as job losses continue - Aug. 1, 2008

     
  2. sealybobo
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    sealybobo Diamond Member

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    i posted on this yesterday and apparently, not something people want to discuss. LOL. Because they can't spin this into a good thing. Or can they? Lets see if you get any bites.
     
  3. busara
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    busara wanasiasa wapumbava

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    theyre just lazy or didnt learn useful enough skills

    :eusa_angel:

    but seriously, i hope people were willing and able to save money in case this happened, and i wish them luck in finding new jobs
     
  4. editec
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    editec Mr. Forgot-it-All

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    Maybe we're too busy polishing up our resumes?
     
  5. AllieBaba
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    AllieBaba BANNED

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    I love seeing lefties get all excited because they think there's going to be a big crash....
     
  6. Chris
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    Chris Gold Member

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    Remember 1992?

    "It's the economy, stupid."
     
  7. AllieBaba
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    AllieBaba BANNED

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    Okay, once again for the peanut gallery...

    The lowest is 4 years....and we're STILL on par with the most productive period of time in US history, the 1950s....when unemployment was at about the same rate.

    We are STILL far, FAR below unemployment numbers of our last recession.

    We are STILL increasing national product.

    We are NOT in a recession. You guys have been insisting for 20 years that we're in a recession. When are you going to figure it out....just because you want one doesn't mean it's going to happen???
     
  8. sealybobo
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    sealybobo Diamond Member

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    Aha! I love the internet:

    Friday's report showing further deterioration in the U.S. job market adds another piece of evidence that economy is headed for — or has already slipped into — a recession. With housing prices plummeting, energy prices soaring and the job market shrinking, this sure feels like a recession to many Americans.

    Yet the government reported Thursday that the economy grew at a 1.9 percent clip in the latest quarter, defying the common definition of recession, which is when the economy shrinks for a sustained period.

    How is this possible?

    Jobs data, GDP stoke debate over recession - Eye on the Economy - MSNBC.com

    A lot depends on how you choose to define a recession. It’s clear that some industries like housing and auto manufacturing, and regions like parts of the industrial Midwest, are already in a recession. Families struggling with flat wages and rising prices are also feeling the same effects that they would if the entire economy were moving in reverse.

    That spending got a sizable boost after the government handed out $100 billion worth of tax rebate checks.

    Told you so!!!

    That money provided an artificial — and temporary — lift to consumer spending, which accounts for about 70 percent of GDP.
     
  9. AllieBaba
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    AllieBaba BANNED

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    recession - Definitions from Dictionary.com

    re·ces·sion 1 Audio Help (rĭ-sěsh'ən) Pronunciation Key
    n.
    An extended decline in general business activity, typically two consecutive quarters of falling real gross national product.

    No recession.
     
  10. sealybobo
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    sealybobo Diamond Member

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    The current level of consumer angst is also in part due to the result of a longer-term trend of slower growth in personal income, another key piece of the recession puzzle. Though overall GDP continues to grow, the rewards of that growth have been greater for those at the upper end of the economic ladder than for those at the bottom, who are more affected by higher food and energy prices.
     

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