Still A Jobless Recovery

[Meister]

The unemployment numbers came out this morning. Were still not out of the woods, and the stimulus still isn't working.

Bad news on the Initial Claims for Unemployment Insurance front. Last week initial claims rose for the third week in a row, rising 8,000 to 480,000.

In addition, last week's numbers were revised up by 2,000. The 4-week moving average of claims, which given the inherent volatility of the weekly numbers is generally considered a better measure, rose by 11,750 to 468,750.

Initial Jobless Claims Up Again: Feb 4, 2010 | iStockAnalyst.com

 

[Toro]

Probably will be for awhile.

 

[Avatar4321]

Maybe the problem is that people are sitting around waiting for a job to come to them or for someplace to hire them instead of asking what they can do to create their own job.

 

[Annie]

The markets didn't like the news:

Dow Jones Industrial Average(DJI: ^DJI)
Index Value: 10,002.18
Trade Time: 4:04pm ET
Change: 268.37 (2.61%)
Prev Close: 10,270.55
Open: 10,273.12
Day's Range: 9,998.03 - 10,273.12
52wk Range: 6,440.08 - 10,767.20

Flirting with the 9k mark again.

 

[Xenophon]

There hasn't been a recovery.

 

[Avatar4321]

There hasn't been a recovery.

I tend to agree. Specifically because i think people are waiting around for work instead of starting their own.

 

[Xenophon]

Barry is going forward with Stimulous II.

That should just about finish us off.

 

[Xenophon]

It really should have its own thread, but here it is...

Dow Down 4% for 2010 After Brutal Selloff - CNBC

With today's decline, the Dow is now down more than 4 percent for the year.

The selloff left a lot of anxiety in the market heading into tomorrow's session — and the jobs report. There was some buzz on the floor that this may be the beginning of a full-blown correction, which would be a 10-percent drop from January's highs. The level to watch is 1,035 on the S&P.

'Recovery' my ass.

 

[Annie]

There hasn't been a recovery.

No there hasn't and likely the unemployment figures are worse than they currently appear:

Bloomberg.com: TV and Radio

When the private sector keeps shedding jobs, while government at all levels keeps hiring at a phenomenal rate, there's going to be an implosion. It's like they refuse to acknowledge that the public understands who it is that pays for all those jobs.

 

[Meister]

In my opinion, Xenophone is exactly right, there is no recovery. The stimulus jobs created were fudged by this aministration to the point of lies with phantom districts, and phantom jobs. It's no more than smoke and mirrors, and this president didn't have the where with all to appoint qualified people for his administration. He went with his ideology instinct, it just showed that he wasn't ready for primetime.
Americans know that government doesn't create jobs....the private sector creates jobs.

 

[Mr Natural]

America no longer has the industrial base needed to support it's population.

Ten percent unemployment will be the new norm from here on out.

 

[Meister]

America no longer has the industrial base needed to support it's population.

Ten percent unemployment will be the new norm from here on out.

Really? I haven't heard that from anyone else, but you. Care to explain?
Is it that bigger government involvement means higher unemployment?