Unemployment at 4-year high

[Chris]

What facts did I ignore?

Did we ever establish what your native language is?

Every one ever presented to you.

 

[AllieBaba]

So it's not English. I figured...

 

[RetiredGySgt]

Isn't 6 percent unemployment considered FULL employment? And aren't we still UNDER 6 percent? Last figure I saw was 5.7 percent unemployment.

 

[AllieBaba]

Don't rain on their parade or they might start doing something industrious themselves.

HAHAHA...just kidding. We all know that will never happen.

 

[Zoomie1980]

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.

When I entered the job market official US unemployment was in the 9% range. We have to almost DOUBLE our rate to get to that level. For most the past 35 years SOCIALIST western Europe has run 10+% unemployment. We are now at 5.7%.

The first year of the US in WWII we were at a little over 14% unemployment. At the height of the Great Depression we hit about 27%

Call me when we hit 9%. I MIGHT start worrying a LITTLE bit then.

 

[Zoomie1980]

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.

Energy costs are down over 20% in just four weeks. Housing is still weak on the coasts and SunBelt but recovering nicely in the Heartland. We are still losing jobs, but that is a normal part of the cleansing process of a recession. We are NOT laying off sizeable numbers of white collar, professional people, mostly low-skilled hourly people at the margins. Tech jobs are actually still growing. Those without marketable skills are ALWAYS at risk in an economic downturn.