More media spin on unemployment

posted at 11:36 am on March 11, 2010 by Ed Morrissey

New jobless claims dropped an entire 1.2% from last week to this, 6,000 down from 468,000 last week.  The new figure is slightly higher than analyst expectations, but either way, it’s basically statistical noise from a relatively constant level of joblessness.  How did the AP report it today?  Guess:

The number of newly laid-off workers requesting unemployment benefits slipped last week, the latest sign the employment picture is slowly brightening.

The Labor Department said initial jobless claims fell by 6,000 to a seasonally adjusted 462,000. That’s close to Wall Street analysts’ estimates of 460,000, according to Thomson Reuters, and the second straight drop.

The figures come after other mildly positive news on employment. Job openings rose in January to their highest level in almost a year, the department said on Tuesday. And the unemployment rate was unchanged at 9.7 percent in February, the department said last week, better than analysts expected. The jobless rate hasn’t risen since October.

Last week’s news wasn’t “mildly positive” at all.  It was a continuation of bad news.  The reason the overall rate didn’t go upward wasn’t because job losses had stabilized but because of movement of discouraged workers out of the work force.  The U-6 category, combining the unemployed with the marginally attached workers and part-time workers who want to work full time,  had dropped from 17.4% in October to 16.5% in January.  It went back up to 16.8% in February, as did the U-4 number from 10.3% to 10.4%.

This report also uses the weather for a reason for the increases in unemployment in February, but fails to explain how that’s still impacting initial jobless claims more than three weeks later.  After all, these are people losing their jobs now, not three or four weeks ago.  Three months ago, new jobless claims hit their low mark of 434,000, and we’re now up 6.5% over that on a weekly basis.  That’s not due to storms or the weather (remember, this data is seasonally adjusted anyway) but to a stagnant economy that’s not producing jobs.  Also, February’s weather wouldn’t have impacted the longer-term U6 and U4 numbers.

There isn’t much difference between 462,000 and 468,000 in new jobless claims week to week for any rational analysis.  While it’s an improvement to the 6,000 who didn’t lose jobs this week, it’s otherwise a status quo.  Until that number gets to around 325,000, we will not be experiencing any net job creation, and that’s the only “brightening” for which we’re looking.


Related Posts:

Breaking on Hot Air

Blowback

Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.

Trackbacks/Pings

Trackback URL

Comments

When Bush was President, job gains of 150,000 were reported by the press as “anemic”.

It is just shameful how the press has chosen sides, and is openly advocating lies in the service of the prevailing ideology.

IronDioPriest on March 11, 2010 at 11:38 AM

C’mon, Ed. Remember how we lost 750,000 jobs in January 2009? As long as we’re nowhere near that number, everything is great.

/sarc

Doughboy on March 11, 2010 at 11:39 AM

Payroll is the more important number. As long as fewer people receive a paycheck, especially from private employers rather than a government agency, this economy is going no where.

Skandia Recluse on March 11, 2010 at 11:40 AM

And traditional media is not losing popularity, it is just that their appeal is becoming more selective.

H/T Spinal Tap

Vashta.Nerada on March 11, 2010 at 11:40 AM

The only brightening happening is that freight train at the end of the tunnel…

PatriotRider on March 11, 2010 at 11:41 AM

This is great news for America………….

……….Dingy Harry

Knucklehead on March 11, 2010 at 11:42 AM

I personally know of two large companies that have given WARN notice in the last 6 weeks, which means they are planning fairly large scale lay offs.

time to take bets: will the MSM report this as “unemployment picture better than if US had total unemployment” or just “beats having cancer”?

LASue on March 11, 2010 at 11:43 AM

Were any Massa Massages involved on these job numbers.

Mr. Joe on March 11, 2010 at 11:43 AM

If the economy keeps improving at this rate only 5,500,000
will lose their job n the next 12 months.

Red Bennet on March 11, 2010 at 11:43 AM

I see the red head girl put her bunny suit back on…Is this good or bad????????

SHARPTOOTH on March 11, 2010 at 11:44 AM

Payroll is the more important number. As long as fewer people receive a paycheck, especially from private employers rather than a government agency, this economy is going no where.

Skandia Recluse on March 11, 2010 at 11:40 AM

Tell me about it. The gov’t spent more on entitlements alone last month than they took in.

Vashta.Nerada on March 11, 2010 at 11:44 AM

Wait until May/June 2010 when 3 million students – largely O’Bambi voters – enter the job market and can’t afford to leave Mom’s basement.

honsy on March 11, 2010 at 11:45 AM

The number of newly laid-off workers requesting unemployment benefits slipped last week, the latest sign the employment picture is slowly brightening.

It’s a flesh wound!

amerpundit on March 11, 2010 at 11:45 AM

BREAKING: Unemployment disaster slightly less abysmal than a week ago.

Great. Break out the champagne ripple.

hillbillyjim on March 11, 2010 at 11:45 AM

If only PBHO would pivot toward job creation or something.

Bishop on March 11, 2010 at 11:45 AM

On the other hand, continuing jobless claimed rose by something like 37,000 last week.

MarkTheGreat on March 11, 2010 at 11:45 AM

I’m sure Obama has created lots of jobs involving selling the contents of your home on eBay. I guess that’s a job.

RBMN on March 11, 2010 at 11:46 AM

I just found out the school district I work for is eliminating all the regional offices and replacing those employees with a staff of approximately 25 workers. When even the public sector is cutting back, you know times are tight.

Of course, I also live in Texas where we’re a lot more fiscally responsible.

Doughboy on March 11, 2010 at 11:46 AM

We -only- lost 60,000 jobs last month. That’s awesome. But when Bush was creating 200,000 jobs during his term that was just awful. – Liberal trolls

lorien1973 on March 11, 2010 at 11:47 AM

You would think a pink bunny could get a job in a shopping mall this time of year.

WashJeff on March 11, 2010 at 11:47 AM

Payroll is the more important number. As long as fewer people receive a paycheck, especially from private employers rather than a government agency, this economy is going no where.

Skandia Recluse on March 11, 2010 at 11:40 AM

The economy is going somewhere: into the toilet. But wait! The best is yet to come! Fill up my FreightLiner’s tanks with Hope and Change, and it will deliver the food from California to the eastern seaboard. Maybe. I sure hope so. Just in case, I am designing a harness that will accommodate 200 federal civil servants, and they can pull the damn thing over the Rockies.

shaken on March 11, 2010 at 11:48 AM

When Bush was President, job gains of 150,000 were reported by the press as “anemic”.

It is just shameful how the press has chosen sides, and is openly advocating lies in the service of the prevailing ideology.

IronDioPriest on March 11, 2010 at 11:38 AM

Just for kicks I did a search for “Bush job growth and came up with over 1,000,000 hits and I stopped looking after the 4th page since all were negative. I did a search for “Obama job growth” and came up with over 8,500,000 hits. After the 3rd positive page I stopped looking. You crazy conservatives thinking the press is somehow biased.

txaggie on March 11, 2010 at 11:48 AM

The new figure is slightly higher than analyst expectations,

So does that mean it was unexpectedly?

Unemployment bunnies hardest hit.

Both the Toledo city government & Toledo Public Schools are preparing for layoffs.

rbj on March 11, 2010 at 11:49 AM

If the idiots in DC don’t get their collective heads out of their asses, this is but the beginning.

Nobody’s investing, small businesses can’t get loans, more jobs are fleeing our shores daily…and on, and on.

Oh but we’ve got to do something about health care.

Well here’s an idea; do something about the job hemorrhage, and more people will have health insurance.

hillbillyjim on March 11, 2010 at 11:49 AM

We -only- lost 60,000 jobs last month. That’s awesome. But when Bush was creating 200,000 jobs during his term that was just awful. – Liberal trolls

lorien1973 on March 11, 2010 at 11:47 AM

Oh, and those jobs under Bush were further discounted because “they were all at McDonalds”.

I remember having those conversations with the liberal muttonheads quite well.

Midas on March 11, 2010 at 11:49 AM

No bias there. Wonder how many would vote Bush back into office…..when the unemployment rate was – as the MSM like to portray “shocking” at around 5%.

GarandFan on March 11, 2010 at 11:49 AM

Detroit has the right idea: transform city land into farms.

See, things really are going to work out, the libs finally get to create their dream of a subservient agrarian society filled with stolid but uneducated plowmen.

Bishop on March 11, 2010 at 11:50 AM

Wait until May/June 2010 when 3 million students – largely O’Bambi voters – enter the job market and can’t afford to leave Mom’s basement.

honsy on March 11, 2010 at 11:45 AM

And let’s not forget the Federal pokulus funds dry up for the states in July. The states will finally be force to confront their budget issues. This will mean job cuts. This is happening in my school district and surely will happen in IL’s state government.

WashJeff on March 11, 2010 at 11:51 AM

Related: Earthquke situation in Chile brightens.

forest on March 11, 2010 at 11:51 AM

So if an alcoholic drinks 1.2% less in a given week (say, he skips one beer), can he be considered a ‘recovering’ alcoholic?

Liam on March 11, 2010 at 11:52 AM

They didn’t stop beating their wives, but now they beat them less severe.

J_Crater on March 11, 2010 at 11:52 AM

Related: Earthquke situation in Chile brightens.

forest on March 11, 2010 at 11:51 AM

lol, perfect.

Midas on March 11, 2010 at 11:53 AM

If you want to see how bad it really is, check out this website.

The number of layoffs in schools, hospitals and store closings is really sad.

Knucklehead on March 11, 2010 at 11:53 AM

And let’s not forget the Federal pokulus funds dry up for the states in July. The states will finally be force to confront their budget issues. This will mean job cuts. This is happening in my school district and surely will happen in IL’s state government.

WashJeff on March 11, 2010 at 11:51 AM

I guess these states are hoping that the remaining $500 billion or so in the Porkulus slush fund will be used to bail them out. Come to think of it, what exactly is that money earmarked for? Do we even know?

Doughboy on March 11, 2010 at 11:54 AM

Its 21.6%!
=========================

http://www.shadowstats.com/

—————————
—————————

Unemployment Remained 20% Higher In States Won By Obama vs States Won By McCain
=======================

http://palinyoubetcha2012.com/wordpress/?p=2397

canopfor on March 11, 2010 at 11:54 AM

Detroit has the right idea: transform city land into farms.

See, things really are going to work out, the libs finally get to create their dream of a subservient agrarian society filled with stolid but uneducated plowmen.

Bishop on March 11, 2010 at 11:50 AM

Worked well for the Soviets… oh wait.

Odie1941 on March 11, 2010 at 11:55 AM

Oh joy, more good news to send Harry Reid dancing naked in the streets over.

pilamaye on March 11, 2010 at 11:55 AM

I wonder if the filthy lying coward in the White House thinks that continued bad news and massive radical socialist programs will make him as beloved as FDR was in his own time. I got news for the rat bastard traitor. He’s seen as too much of the problem to ever get the kind of credit FDR did in his own time. Plus FDR was only physically disabled. Obama is an effing R word.

highhopes on March 11, 2010 at 11:56 AM

I’m one of those claims that went down. I don’t get unemployment. No UEI filing, means one less person claiming joblessness.

I bet a majority of those claimants just don’t claim anymore and has nothing to do with if they found a job.

Tim Burton on March 11, 2010 at 11:56 AM

Most ridiculous media economic spin of the day comes from the Washington Post:

Rise in Washington area unemployment seen as good sign for economy’s recovery

Yes. You read that correctly.

A rise in the unemployment rate is a “good sign” because people believe they’re going to find work. Therefore, they’re moving from the U-6 to the unemployed category.

They don’t actually find work because Obama hasn’t created any jobs (nor can he, unless they’re government positions). Nor does he know how to. But some are no longer discouraged (until, of course, they can’t find work again). So we’re saved.

So that’s a “good” sign.

Of course, when Bush was presiding over five years of end-over-end job GROWTH (net gains) each month, the growth was called “anemic” and was characterized as nothing to be proud of.

Just thought it would be useful to remind the WaPo and Obamacrats how they reported job GROWTH several years ago in the comparative age of plenty under a different administration.

Good Lt on March 11, 2010 at 11:57 AM

If you want to see how bad it really is, check out this website.
The number of layoffs in schools, hospitals and store closings is really sad.
Knucklehead on March 11, 2010 at 11:53 AM

“Great news, nothing closed on March 7th!”

-Harry Reid

Bishop on March 11, 2010 at 11:57 AM

Its a Hopey/Changey Nightmare!
==================================
Failed Bank List

http://www.fdic.gov/bank/individual/failed/banklist.html

canopfor on March 11, 2010 at 11:58 AM

Barack Obama on Current Unemployment statistics in America————————–
Hopey call SarahCuda,a Senator!

http://www.youtube.com/watch?v=JsLwUoG2Ds0

canopfor on March 11, 2010 at 12:02 PM

Doctor, good news the patient that had a fever of 105 is down to 104.9. I think it’s time to discharge him since he is obviously cured.

angryed on March 11, 2010 at 12:02 PM

Oops,should be,Hopey calls SarahCuda a Senator!

canopfor on March 11, 2010 at 12:03 PM

You crazy conservatives thinking the press is somehow biased.

txaggie on March 11, 2010 at 11:48 AM

Ah, got it! If it ranks high in google, it’s true.

katablog.com on March 11, 2010 at 12:04 PM

Tax collection revenue is telling. Just saw a piece online indicating that Vermont’s tax revenue is down 18% thus far this year. This, on top of an already deficit heavy financial situation, will only get worse. For the record, Democrats are in control of the State House in Montpelier and have been for several years. The Republican Governor is basically a figurehead – a “grand opening ribbon cutter”.

If people don’t work, they don’t make any taxable income and, therefore, don’t pay any taxes!

GoldenEagle4444 on March 11, 2010 at 12:04 PM

Gibbs on rising unemployment could be worse uncut

http://www.youtube.com/watch?v=PG8e_MLrHZE

canopfor on March 11, 2010 at 12:05 PM

Rise in Washington area unemployment seen as good sign for economy’s recovery

Good Lt on March 11, 2010 at 11:57 AM

We are always been at war with Eurasia too.

angryed on March 11, 2010 at 12:06 PM

unexpected!!

kringeesmom on March 11, 2010 at 12:07 PM

See, things really are going to work out, the libs finally get to create their dream of a subservient agrarian society filled with stolid but uneducated plowmen.

Bishop on March 11, 2010 at 11:50 AM

I thought they looked to Mao, not Pol Pot.

rbj on March 11, 2010 at 12:07 PM

Come to think of it, what exactly is that money earmarked for? Do we even know?

Doughboy on March 11, 2010 at 11:54 AM

I have NO idea, but I am sure it will be well spent. :-/

WashJeff on March 11, 2010 at 12:07 PM

The unemployment in my home county is now 14.1%.

tarpon on March 11, 2010 at 12:09 PM

I blame the drop on the tornadoes yesterday.

Dusty on March 11, 2010 at 12:11 PM

Oh, and the Toyota recall.

Dusty on March 11, 2010 at 12:12 PM

the latest sign the employment picture is slowly brightening.

Still cloudy from where I’m sittin.

faol on March 11, 2010 at 12:13 PM

But I fully expected this.

Dusty on March 11, 2010 at 12:13 PM

Oh, and the Toyota recall.

Dusty on March 11, 2010 at 12:12 PM

http://www.youtube.com/watch?v=rwBhKzFEVi4

faol on March 11, 2010 at 12:15 PM

slowly brightening

Didn’t CNN use the same word ‘brightening’ on their political ticker blog (two days ago), when describing unemployment? Funny that.

The Facts: Unemployment is scary high. It’s scary that the Dems are still focused on Obama’s Healthcare to save his presidency; they do NOT care about all the jobless people. Look at the House Democrats today; locked in a closed-door room with Pelosi fighting (bribes?) over healthcare.

Sure hope the AP has lots of sunny words to describe Obama/Dems high unemployment, they’re gonna be writing about it for a lonnnnnnng time.

TN Mom on March 11, 2010 at 12:16 PM

Rush is on now about unemployment!

canopfor on March 11, 2010 at 12:17 PM

Over a trillion dollars in new borrowing and spending by the federal government, and the unemployment rate has not changed.

Can we please throw Keynes in the trash now?

rockmom on March 11, 2010 at 12:17 PM

If people don’t work, they don’t make any taxable income and, therefore, don’t pay any taxes!

GoldenEagle4444 on March 11, 2010 at 12:04 PM

A hell of a lot of small businesses aren’t reporting. I’m arguing right now with a client who doesn’t want to send me a 1099 for several thousand dollars in commisions they paid me last year. A relative of mine is a CPA and he reports booming business in tax avoidance by businesses and individuals right now.

rockmom on March 11, 2010 at 12:20 PM

It is unexpected!

Opposite Day on March 11, 2010 at 12:22 PM

You would think a pink bunny could get a job in a shopping mall this time of year.

WashJeff on March 11, 2010 at 11:47 AM

WashJeff: *Rolls eyes*,ya,but its a union thing!:)hehe.

canopfor on March 11, 2010 at 12:22 PM

Has anyone seen the Liberal F$#$%^&*(^%$#%^&* kn plan!!

canopfor on March 11, 2010 at 12:23 PM

“relatively constant level (rate of increase) of (new) joblessness”

burt on March 11, 2010 at 12:32 PM

Things are so much better but income tax revenue is falling like a stone. Do I believe my lying eyes or the DNC propaganda arm the MSM.

jukin on March 11, 2010 at 12:34 PM

How many GOVERNMENT jobs have been added since Obama was sworn in?

Star20 on March 11, 2010 at 12:39 PM

According to the soooooooper jeanus Robert Gibbs 640,000.

jukin on March 11, 2010 at 12:40 PM

At least if I lost my job I could go fishing.

Oh… wait…

crazy_legs on March 11, 2010 at 12:42 PM

Ah… missed that last night. Oh well.

crazy_legs on March 11, 2010 at 12:43 PM

“And the unemployment rate was unchanged at 9.7 percent in February, the department said last week, better than analysts expected.”

..unprecedented?

VoyskaPVO on March 11, 2010 at 12:51 PM

We have reached a point in this country where many businesses cannot afford to hire the staff they need to run their businesses.

I work for a major retail store. The staffing has been cut to the bone, not a single extra sales associate on the floor and those still working have had hours cut back to two to three short shifts a week.

Jvette on March 11, 2010 at 12:53 PM

This type of spin is pretty much all the Obama administration has left since it’s policies are an absolute failure.

The Obama administration has done little to nothing that it’s “Hope and Change” campaign promised:

“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.”


Obama later joined his Democratic colleagues in voting en bloc against raising the debt increase.

Obama,2006


Since Obama took office…the debt limit has been raised over 5 times to about 15 trillion dollars……


White House Budget Director Orszag: “Elevated Deficits Are Beneficial”

White House Budget Director
Peter Orszag, Feb. 26, 2009

When our deficit was around 400 billion under Bush…the democrats said Republicans were ‘destroying the future for our children” and placing ” irresponsible economic debt” on future generations…..

Since the democrats took over Congress in 2006 our deficits are close to 2 trillion dollars with projections of over 1 trillion dollars a year for decades to come.


Republicans averaged around 100 billion a year while democrats are racking up 220 billion a month.

Obamna’s democratic economic geniuses call this “Beneficial”

democrats are constantly telling Americans we need to open our minds and listen more to the International community….
…..well here is what they are saying:

“China has woken up. The West is a black hole with all this money being printed. The Chinese are buying raw materials because it is a much better way to use their $1.9 trillion of reserves. They get ten times the impact, and can cover their infrastructure for 50 years.”

..looks like the liberals are the ones with the closed minds.


Unemployment is sky high,Deficits in the trillions,Taxes going through the roof,The Dollar becoming null and void,Foreign investors pulling out of America,GM,Chrysler,and Banks being taken over by the government ,and the President has this to say about his failed stimulus:

That is why I have moved quickly to work with my economic team and leaders of both parties on an American Recovery and Reinvestment Plan that will immediately jumpstart job creation and long-term growth. …

STIMULUS MATH: $246,436 cost per job so far…

What recovery? Unemployment shoots past 10 percent
By JEANNINE AVERSA and CHRISTOPHER S. RUGABER, AP Economics Writers

3.7 million jobs lost since the signing of the stimulus!!!!!


On March 5, 2010, Senator Harry Reid said, “Today is a big day in America. Only 36,000 people lost their jobs today, which is really good.”

Obama said if we did nothing…unemployment would shoot to 9% and millions of jobs would be lost……if we pass the stimulus,unemployment will only reach 8% and it will create 3 to 4 million jobs.

….By Obama’s own standards…the stimulus has been an incredible failure……
Instead of admitting this …..Obama gives us this drivel:



In a little over one hundred days, this Recovery Act(stimulus) has worked as intended…

Obama statement regarding the stimulus
Radio address,July 11, 2009

Instead of addressing the failure of their own policies and their contribution for getting us into this mess….Mr. 57 states decides it’s better to BLAME BUSH…


“I don’t want the folks who created the mess to do a lot of talking; I don’t mind cleaning up the mess, just don’t do a lot of talking”

Barack Obama
Aug. 8, 2009 , Virginia speech


…As usual…the reality is 180′ from the liberal talking points:


According to the AP, Obama and his liberal friends did help create this mess:


FACT CHECK: Obama disowns deficit he helped shape
By CALVIN WOODWARD, Associated Press Writer Calvin Woodward, Associated Press Writer

WASHINGTON – “That wasn’t me,” President Barack Obama said on his 100th day in office, disclaiming responsibility for the huge budget deficit waiting for him on Day One.
It actually was him — and the other Democrats controlling Congress the previous two year

…When democrats could not lie and spin their way out of their failed “Hope and Change” policies…..the “smart ones” had to admit:

“The figures we worked off of in January were the consensus figures and most of the blue chip indexes out there,” Biden said. “We misread how bad the economy was,

VP Joe Biden on ABC’s This Week,
July 5,2009

…..probably the only factually true statement made by this administration so far.

….over and over and over and over democrats (with help from their activists friends in the press) want America to “not believe their lying eyes”…….

The best their activists friends in the press can do is say day after day after day “it could be worse!!!”……

…..how low the bar has been set so that liberals can spin their failures into faux success stories.


…Thank God the “adults” are in charge!!!

Baxter Greene on March 11, 2010 at 1:09 PM

“The number of newly laid-off workers requesting unemployment benefits slipped last week, the latest sign the employment picture is slowly brightening.”

Eventually, every company runs out of workers to lay off.

percysunshine on March 11, 2010 at 1:24 PM

We have reached a point in this country where many businesses cannot afford to hire the staff they need to run their businesses.

I work for a major retail store. The staffing has been cut to the bone, not a single extra sales associate on the floor and those still working have had hours cut back to two to three short shifts a week.

Jvette on March 11, 2010 at 12:53 PM

This is happening almost everywhere except at the Toyota service departments.

The recalls have been a huge boost for them.
The average 80 hr. work week they bill by has skyrocketed to over 240 billing hours a week (in Greensboro,NC)…..


…..the problem is I can’t find one single technician,service writer,or service manager that has actually found a problem with any of these cars!!!

I deal with over 4 Toyota accounts and none of them….absolutely none of them have “fixed” a car that they found a gas pedal problem with.

It is a running joke in the dealerships that the White House has whipped this up to help out Chrysler/GM.

…a manager or dealership owner might have a reason to lie about this…but the mechanics don’t really give a crap except for the fact that they are getting paid out the ying-yang to fix cars that have no problems….

…..they state that many of the earlier complaints were done by senior citizens that routinely hit the gas pedal when they think they are hitting the brake.
…there have been a few with sticking gas pedals but nothing to warrant the witch hunt being put on by the Obama administration.


…but it has certainly snowballed from there.

The press…just like these “unexpected” articles on unemployment,are more concerned about carrying water for Obama than they are in actually investigating and relaying factual information to the American people.

Pravda is sure to be jealous of this fawning admiration by our press without anybody having to be shot and killed like Putin does.

Baxter Greene on March 11, 2010 at 1:24 PM

A relative of mine is a CPA and he reports booming business in tax avoidance by businesses and individuals right now.

rockmom

I have heard of small businesses and even construction companies paying part-timers cash under the table for the benefit of the firm AND the employees who can continue collecting unemployment all the while,

honsy on March 11, 2010 at 1:56 PM

BREAKING: Unemployment disaster slightly less abysmal than a week ago.

Great. Break out the champagne ripple.

hillbillyjim on March 11, 2010 at 11:45 AM

Don’t think the unemployed can even afford Boone’s Farm…

lovingmyUSA on March 11, 2010 at 1:59 PM

The overall unemployment picture from all the links I spammed Ed and AP with look “alarming” actually.

States have consumed their stimulus money and will begin laying off public sector workers this week and many states have announced they will defer income tax checks to individuals and businesses until July first. What will the unintended consequences of that be?

Add to that the fact that over two million new college grads will enter the workforce in May and the temporary government workers, including those working on the census will get laid off.

Several experts have said in articles for places like CNBC, FBC say unemployment and the economy will take a double dip.
None of them expect employers to start hiring anytime soon.

It really looks like we merely hit a ledge on the way to the bottom.

As long as the private sector is poisoned by Bozo and the clown posse, the situation will continue to deteriorate.

Finally the House and the Senate have each passed TWO job bills none of which are resolved into law nor effective. Instead the dems are entirely focused on their mad quest for Obamunistcare and their orgy of power.

While the American people are left to rot.

dogsoldier on March 11, 2010 at 2:02 PM

I have heard of small businesses and even construction companies paying part-timers cash under the table for the benefit of the firm AND the employees who can continue collecting unemployment all the while,

honsy on March 11, 2010 at 1:56 PM

Just wait until BarryCare forces businesses to give part timers full medical benefits. This kind of black market activity is going to explode.

(This is also bad news for Social Security, as people being paid off the books aren’t paying SS taxes.)

MarkTheGreat on March 11, 2010 at 2:58 PM

Add to that the fact that over two million new college grads will enter the workforce in May

dogsoldier on March 11, 2010 at 2:02 PM

My eldest is in that boat. She’s graduating with a teaching degree from a small school in FL. She’s going to Cambridge to get a masters.

MarkTheGreat on March 11, 2010 at 3:00 PM

Anyone object if I brag on my kids a little?

MarkTheGreat on March 11, 2010 at 3:00 PM

Anyone object if I brag on my kids a little?

MarkTheGreat

Go for it!

honsy on March 11, 2010 at 3:33 PM

MarkTheGreat on March 11, 2010 at 3:00 PM

Go for it! I hope she finds work right away. You must be feeling really proud!

dogsoldier on March 11, 2010 at 3:41 PM

lovingmyUSA on March 11, 2010 at 1:59 PM

Might be time to break out my gramps plans on building a white lightening still. Then you don’t have to worry about the cost of Ripple or Boones.

chemman on March 11, 2010 at 4:52 PM