Nations Jobless Rate Jumps To 9.8%

[gman0046]

Obongo remains helpless to stem the Nations job losses as the unemployment rate jumps to 9.8%. Lets see how Roger Perry spins the latest and continuing failed presidency.

[Buzz]

This is a really great looking employment curve. We are in the same place we were a year ago. Read it and weep.

[WaterDogRem]

Wonder what the graph & rate would look like if people didn't receive two years of payments to be unemployed?

[Nate_C]

we'll be OK
I just heard biden say that when people spend their unemployment checks that that creates jobs.
My goodness,,,,genious

Pete

He is right. If you want to inject money into the economy unemployment benefits are a good way to do it. Nearly 100% of the money gets spend (Tax cuts often get saved). It also improves consumer confidence by removing some of the desperation. Which gives the economy a short little boost.
In the end about the only thing the government can do to help the economy in the short term is spend or give people money to spend. Now whether or not we should do so with a 1.6 Trillion deficit is a whole other question. This isn't Obama's fault or even Bush's, it is ours the American people. For a decade we spend money we didn't have now demand along with jobs has crashed. it will just take time.
Sorry but the conservative solution of tax cuts and spending cuts would end up being marginally less effective in the short run.

[menmon]

He is right. If you want to inject money into the economy unemployment benefits are a good way to do it. Nearly 100% of the money gets spend (Tax cuts often get saved). It also improves consumer confidence by removing some of the desperation. Which gives the economy a short little boost.
In the end about the only thing the government can do to help the economy in the short term is spend or give people money to spend. Now whether or not we should do so with a 1.6 Trillion deficit is a whole other question. This isn't Obama's fault or even Bush's, it is ours the American people. For a decade we spend money we didn't have now demand along with jobs has crashed. it will just take time.
Sorry but the conservative solution of tax cuts and spending cuts would end up being marginally less effective in the short run.

Welcome Nate! It is nice to hear someone else that has a clue.

[menmon]

Wonder what the graph & rate would look like if people didn't receive two years of payments to be unemployed?

It would look even better because after unemployment benefits expire, these people are no longer in the equation. If Obama wanted to make this number look good he would have never extended the period. Good thing he cares about the people that can't find a job as opposed to worrying about getting re-elected.

[david gibson]

It would look even better because after unemployment benefits expire, these people are no longer in the equation. If Obama wanted to make this number look good he would have never extended the period. Good thing he cares about the people that can't find a job as opposed to worrying about getting re-elected.

dont be so quick with that rosy opinion. although i commend him and am glad he reached across the aisle for once, it is still political in that he knows he has a better chance for re-election with a centrist approach to get the independents than he does with the radical approach and keeping the far left happy. he already suspected that i think and nov. 2 cemented it in his head. he has to gamble on being able to replace the soros-type money though, and therein lies his waterloo.

if you think that any politician always has the little guy's benefit in his priorities you are sadly mistaken and very niave. they only have their back when they need their vote.

[Cody Covey]

Oh my ,,your kidding me right. No wonder this countries so screwed up.

Producing jobs stimulates the economy.
giving people money so they can pay the bills does absolutely nothing except prolong the enevitable.

pete

It's actually pretty basic economics. While I don't agree that people should have unemployment benefits as long as they do now, you can't say that we need to cut taxes because we would save $35 a paycheck and then in the same breath say that unemployment checks which here are a minimum of 120 bucks a week do nothing for the economy.

One thing I am confused about and it may just be a Washington state thing but i don't think so is you have to apply for a minimum of 3 jobs a week and keep a log of them. Are we really thinking people have applied for 300+ jobs and not found a single job offer?

[ducknwork]

Are we really thinking people have applied for 300+ jobs and not found a single job offer that pays better than sitting on your duff?

Yes...Hence the problem...unemployment and welfare is too comfortable of a place to be. Make people start sacrificing and making tough choices like my grandparents did in the 30s. Those job offers will look a lot better then...