Unemployment Rate Rises to 10.2 Percent- AP October non-farm payrolls are down

Discussion in 'Economy' started by Neubarth, Nov 6, 2009.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    Unemployment Rate Rises to 10.2 Percent- AP

    October non-farm payrolls are down 190,000.

    * US stock futures point down after jobs report- AP



    AS I HAVE BEEN SAYING.....and, of course the actual unemployment from MY survey has unemployment over 23%.
     
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    For my book on the present GREATEST (DELUSIONAL) DEPRESSION, I interview people.

    As I keep telling you, we are in a depression.
     
  3. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Notice this comes out AFTER the elections.

    [​IMG]
     
  4. Wry Catcher
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    Wry Catcher Platinum Member

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    WASHINGTON – The unemployment rate has surpassed 10 percent for the first time since 1983 — and is likely to go higher.

    Nearly 16 million people can't find jobs even though the worst recession since the Great Depression has apparently ended. The Labor Department said Friday that the economy shed a net total of 190,000 jobs in October, less than the downwardly revised 219,000 lost in September. August job losses were also revised lower, to 154,000 from 201,000.

    But the loss of jobs last month exceeded economists' estimates. It's the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.

    Reagan has been in office for two years in 1983; Job loss began ten months before Obama took office. Of course the right wing continues to lie, rewrite history and bloviate the bull shit. Right Frank?
     
  5. Toro
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    Toro Diamond Member

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    I have not yet looked at the numbers but unemployment often spikes at the bottom of a recession because those who have left the workforce and are not counted in the survey come back into the workforce to look for jobs.

    That may be happening here, or it may be that things are getting worse, I don't know. However, don't assume that the general trend towards a bottoming in employment conditions is in any way changing simply because the rate of unemployment spikes.

    However, unemployment is likely to stay high for some time.

    As for NFPs, 190k were lost but the prior two months were revised upwards by 90k, giving a net gain of -100k, the lowest level in a year.
     
  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    What about all those jobs saved or created?
     
  7. CrusaderFrank
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    CrusaderFrank Diamond Member

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    ObamaCare and Cap & Trade are each going to add 4% to the total Unemployment
     
  8. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    I got a raise, therefor my job was saved. :lol:
     
  9. CrusaderFrank
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    CrusaderFrank Diamond Member

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    How many brothels has ACORN opened?

    How many underage Illegal Alien prostitutes have found work, a home and a voter ID card thanks to Democrats?
     
  10. Maple
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    Maple Senior Member

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    Well Toro, that's a very optimistic opinion but to tell you the truth, I talk to people all day long on the days I work and I have yet to see anyone get a job. College grads are getting very frustrated, some colleges have even cancelled their work fairs, business is not recruting, even dental colleges are not able to place their recent grads. It's a pathetic situation out there and I live in one of the states that has been hit hard, but not nearly as hard as many others.

    The White House spins these terrible numbers and when they do that, they anger the American people, because we are the ones living it.

    We have a growing tent city springing up in my area and winter is coming on.
     
    Last edited: Nov 6, 2009

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