unemployment starts the double dip

Discussion in 'Economy' started by saveliberty, Aug 19, 2010.

  1. saveliberty
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    saveliberty Diamond Member

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    Jobless claims rise to highest level in 9 months - Yahoo! Finance

    Employers appear to be laying off workers again as the economic recovery weakens. The number of people applying for unemployment benefits reached the half-million mark last week for the first time since November.

    It was the third straight week that first-time jobless claims rose. The upward trend suggests the private sector may report a net loss of jobs in August for the first time this year.

    Initial claims rose by 12,000 last week to 500,000, the Labor Department said Thursday.

    Homebuilders and other construction firms are laying off more workers as the housing sector slumps after the expiration of a popular homebuyers' tax credit. State and local governments are also cutting jobs to close large budget gaps.

    In a healthy economy, jobless claims usually drop below 400,000. But the recent increases in claims provide further evidence that the economy has slowed and could slip back into a recession. Many analysts are worried that economic growth will ebb further in the second half of this year.

    After growing at a 3.7 percent annual rate in the first quarter, the economy's growth slowed to 2.4 percent in the April-to-June period. Some economists forecast it will drop to as low as 1.5 percent in the second half of this year.

    Commentary: The double dip is a direct result of the repairs attempted by the current adminstration.
     
  2. Annie
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    Annie Diamond Member

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    It's been obvious to most for a long time, now some of the Keynesians are beginning to see or rename. Must say I'm glad I went to U of C, while many liberals in near all departments, they do make sure to keep some to balance:

    Obvious Failure of Stimulus Becomes Obvious Even To Economists - Hit & Run : Reason Magazine

    Links at site.
     
  3. uscitizen
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    uscitizen Senior Member

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    You think this is bad. Wait till after November when the Republicans try and cut spending.
     
  4. DiamondDave
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    DiamondDave Army Vet

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    But but but but Obama is fixing things :rolleyes: The Democratic congress is fixing things :rolleyes:
     
  5. saveliberty
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    saveliberty Diamond Member

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  6. DiamondDave
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    DiamondDave Army Vet

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    Every negative result in this administration is always labeled with the scapegoat of "unexpectedly"
     
  7. Mad Scientist
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    Mad Scientist Feels Good!

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    Many Libturds on this very board have said that unemployment is a "lagging indicator". I wonder what they think now?
     
  8. Lonestar_logic
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    Lonestar_logic Republic of Texas

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    If something doesn't happen soon the Johnson Space Center here in Houston will have to lay off as many as one thousand people.
     
  9. Claudette
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    Claudette Gold Member

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    How could you forget??

    ITS STILL ALL BUSH'S FAULT. LOL
     
  10. Avorysuds
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    Avorysuds Gold Member

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    1: You are all racist and simply hate Obama - TM

    2: Conservatives WANT things to get worse, and pray for it! - Jake

    3: This PROVES Bush REALLY screwed things up - Someone unimportant

    4: The economy was doing very well until the Republican congress filibustered it! -RW

    5: Look, a rainbow awww.... =) - All the above

    6: Wait a second, watching cnn.nbc.ABC.CBS.maddow.keith. for talking points… Then I need to listen to my daily rush.palin.beck.fox so I can debate you guys that don’t listen/watching them.
     
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    Last edited: Aug 19, 2010

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