Topic: Job losses from Great Recession about to get worse
Winx's photo
Fri 02/05/10 09:15 PM

I don't see many Illegals going without work. Every winter, there was a steady flow of them coming back towing cars and trucks full of stuff to sell in Mexico.

In the spring, They'll go back to their jobs.


The last that I've heard is that many of them went back home due to the job market here. The jobs are just not there.

msharmony's photo
Fri 02/05/10 10:40 PM

here's Rush's explaination...most of the gains were in temporary census taking jobs...

Yeah, except the problem is it's not accurate. They did include the revised number of unemployed people up to eight million instead of seven, and they did include the first wave of Census Bureau hires -- and they're going to be hiring these workers all through June and they're gonna hire a million of them. So you're going to see the unemployment rate drop because of that, but keep in mind those Census jobs are temporary. They're going to lose their jobs when the Census work is over.

They did two tricks today in addition to what I just mentioned to you. In fact, Rick Santelli on CNBC this morning said that the level of manipulation on these numbers is intensifying. Without the move to remove how many jobs there are in the marketplace, he says the rate would be 10.6% for January, and let me explain what he means. He was specific on the Obama administration lowering how many jobs are even in the total marketplace. I think they took it from 136 million and changed it down to 129 million. So if there is a smaller universe of jobs, naturally you're going to have a lower percentage of those unemployed. They have been manipulating and doing everything they can to keep this number at or below 10%, but of course this is what's called the U3 number. The U6 number includes -- and this is the number that's around 17 or 18% -- people who have stopped looking, and that number continues to expand. These are the people whose unemployment compensation benefits have expired. So this 9.7% number... We'll wait for the revisions as we always do, and we'll pound the revisions to you when they come out. The State-Controlled Media will, of course, ignore them. But folks, it's just not what it seems to be. I really wish it were. I wish that I could wholeheartedly endorse this. But everybody was stunned by this. Not just the usual experts were surprised. Everybody, and I'm wondering...




Perhaps Rush should educate himself on how the unemployment rate is figured, NOTHING to do with th enumber of jobs in the market. Has to do with how many of the employable in the agreed upon sample have applied for benefits or are unemployed. So, actually, if there are fewer jobs to disperse, that number would probably be HIGHER.

MiddleEarthling's photo
Sat 02/06/10 06:58 AM


I don't see many Illegals going without work. Every winter, there was a steady flow of them coming back towing cars and trucks full of stuff to sell in Mexico.

In the spring, They'll go back to their jobs.


When Americans can make a living wage for doing the illegal's work then we can address this. Let's see what is not paying...

How about the rich?..."20% of the people owned a remarkable 85%, leaving only 15% of the wealth for the bottom 80% "of the wealth"(a)..and I know it sounds "socialistic" to say this, but there has to be a slight levelling of wealth. The rolling back of the Dippic's tax cuts for the rich was a start but the top 20% can invest in America...help reform the economy...but they are hiding from even paying their fair share of taxes.

We see the corporations gaining power to allow them to outsource our skilled jobs, cut pay, avoid regulations. How about the Supreme Court (b) now allowing Big Corp to elect our officials?...JTC don't you people see what's happening? We've become a Corporate Socialist(c) country!....I do not understand how people can ignore this. Oh yeah, politics...gee wonder who's sponsoring THAT!?!

(a) http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
(b)http://voices.washingtonpost.com/postpartisan/2010/01/supreme_court_allows_corporate.html
(c)http://www.hinde.net/lee/blog/2008/01/corporate-socialism.html


Pfft oof...why bother.

http://www.youtube.com/watch?v=09eycPSlG4M


RKISIT's photo
Sat 02/06/10 10:00 AM
Edited by RKISIT on Sat 02/06/10 10:01 AM
bummer

Atlantis75's photo
Sat 02/06/10 11:05 AM
Edited by Atlantis75 on Sat 02/06/10 11:07 AM
US jobs data show mixed picture


Anyone looking for clarity about the direction of the US labour market will have been disappointed by the mixed picture in the government data released on Friday.

On the one hand, the unemployment rate declined from 10 per cent to a five-month low of 9.7 per cent in January, offering hope that companies are bringing in new workers as the US economy grows again.

On the other, non-farm payrolls – which are measured in a different survey – declined by 20,000 jobs last month, a disappointment compared with economists’ expectations of a flat reading or even a small gain.

“The jury is still out,” said Andrew Tilton, an economist at Goldman Sachs in New York.

One message was clear however: the recession that began in December 2007 was even more devastating to US employment than previously thought.

Friday’s data included revisions to figures from a year ago showing that 8.4m jobs were lost since the crisis started – almost 1m more than earlier estimates – a stark reminder of the extent of the problem the labour market faces.

Economists have been expecting the US labour market to begin returning to normal in the coming months amid roaring productivity and strong annualised growth of 5.7 per cent in the fourth quarter.

There were some encouraging signs beneath the headline numbers. Stephen Stanley of RBS in Connecticut said the data “confirm our conviction that the labour market is gradually turning around but wishing that payrolls would improve faster”. The average work week increased by 0.1 to 33.3 hours, while wages increased to $18.89 per hour – both reflecting trends that are expected in a labour market recovery.

On the payrolls front, US manufacturing industry created 11,000 new positions last month – posting its first monthly gain since 2007. In addition, the number of temporary workers jumped by 52,000 and retail workers increased by 42,000, helping employment in service industries – which account for the bulk of US jobs – to increase by 48,000.

But for some economists, the glass was half-empty. “Overall, output has now been expanding for about six months, yet the economy is still shedding jobs,” said Paul Ashworth of Capital Economics in Toronto. “Output and employment normally move roughly concurrently, so based on what we’ve seen so far, this is without doubt a jobless recovery.”

The growing number of “discouraged” workers – who have stopped even looking for jobs – remains a big concern. It has ballooned from 734,000 to 1.1m people over the past year – having grown last month by 136,000. Long-term unemployment – which includes people who have not found a job for 27 weeks or more – also increased to 6.3m from 2.7m a year ago.

In addition, certain industries such as construction, remain deeply troubled. It lost 75,000 jobs last month, and while some of that decrease is being attributed to cold weather, much of it reflects the precarious health of the US housing market, which is still struggling to recover.

While the decline in the unemployment rate affected many sections of the US population, workers with college degrees or higher benefited the most – with their unemployment rate falling 0.5 percentage points to 8.5 per cent. African-Americans saw their unemployment rate jump 0.3 percentage points to 16.5 per cent.

The monthly employment report is arguably the most politically sensitive measure of the health of the US economy, invariably attracting strong reactions from both Republicans and Democrats. On Friday, Christina Romer, chair of the White House Council of Economic Advisers, said the numbers contained “signs of the beginning of recovery” but were “also a reminder of how far we still have to go to return the economy to robust health and full employment”.

The Obama administration has made job creation its top domestic priority this year, recently announcing proposals, including tax breaks and other incentives to jump-start hiring.


http://www.ft.com/cms/s/0/ce92fdf2-128d-11df-a611-00144feab49a.html

18 bucks an hour? I can't even find a 10dollar/hr job!!! in CT! In 2010.

I'm not kidding! My brother has a bachelor in history and he is a security officer at a company gate, working for $11.00/hr. I have an associate in science and I got 6 years in the military behind and they won't even hire me to clean toilets.

msharmony's photo
Sat 02/06/10 11:21 AM
Average covers a LARGE number of people. If you consider the wealth of the top in this country and then AVERAGE it in with every one else,, 18 an hour seems more reasonable. It doesnt mean that we really are going to find that type of pay very easily , it is just an average between the TOP PAID and the LOWEST PAID.

Yeah, Id like to find that 18 an hour job too, although I think the census is going to pay close to that and when I figure the yearly salary for a teacher divided by the hours I will work,, I will be making close to 18 an hour too.

I will add, that I am one of few in my family in this predicament though. They have gone into fields like computer programming, medicine, acting, and even hairdressing and easily make nearly 16 or 17 hourly. I think its finding the right occupation(one in high demand and which will continue to have high demand). People will always get sick and want to look nice so medicine and hairdressing are great fields to be in.

Giocamo's photo
Sat 02/06/10 11:26 AM
two recession proof industries...
#1: Medicine
#2: The Mafia

Atlantis75's photo
Sat 02/06/10 11:48 AM
Edited by Atlantis75 on Sat 02/06/10 11:53 AM

two recession proof industries...
#1: Medicine
#2: The Mafia


#3 politicans' paycheck
#4 White House staff salary

Want to aid Haiti? Why are they asking the people, who make 12 bucks/hr for contribution when the CEOs of Bank of America or Goldman Sachs make as much in one year as the entire Haiti's GDP' purchasing power?


cashu's photo
Sat 02/06/10 07:54 PM
Edited by cashu on Sat 02/06/10 08:08 PM


I know where thee is 36 million jobs for you here in the good old USA . OBAMA doesn't care if you need one . What shall we say about this? any thing ?


Actually he does, what are you getting at? By the way, the states most unlikely to get a job: Florida, CA, Michigan, Nevada, New York, and South Carolina. Twice as many states are ABOVE the national employment average than are below it. What say you now?
ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
If he gave a $hit he'd get rid of the illegal and the people who have helped them . PRESTO 34 MILLION JOBS AND A LOT OF PEOPLE WHO BELONG IN PRISON ARE THERE .I realize some people are so smart they can't pass a 5 grade test .But they got phoney degrees any way . But I'm sure they know how to speak pompous english .
Over 500000 came across in 2009 . THATS MORE . ET HABLA ....

Dragoness's photo
Sat 02/06/10 08:02 PM
Edited by Dragoness on Sat 02/06/10 08:02 PM

here's Rush's explaination...most of the gains were in temporary census taking jobs...

Yeah, except the problem is it's not accurate. They did include the revised number of unemployed people up to eight million instead of seven, and they did include the first wave of Census Bureau hires -- and they're going to be hiring these workers all through June and they're gonna hire a million of them. So you're going to see the unemployment rate drop because of that, but keep in mind those Census jobs are temporary. They're going to lose their jobs when the Census work is over.

They did two tricks today in addition to what I just mentioned to you. In fact, Rick Santelli on CNBC this morning said that the level of manipulation on these numbers is intensifying. Without the move to remove how many jobs there are in the marketplace, he says the rate would be 10.6% for January, and let me explain what he means. He was specific on the Obama administration lowering how many jobs are even in the total marketplace. I think they took it from 136 million and changed it down to 129 million. So if there is a smaller universe of jobs, naturally you're going to have a lower percentage of those unemployed. They have been manipulating and doing everything they can to keep this number at or below 10%, but of course this is what's called the U3 number. The U6 number includes -- and this is the number that's around 17 or 18% -- people who have stopped looking, and that number continues to expand. These are the people whose unemployment compensation benefits have expired. So this 9.7% number... We'll wait for the revisions as we always do, and we'll pound the revisions to you when they come out. The State-Controlled Media will, of course, ignore them. But folks, it's just not what it seems to be. I really wish it were. I wish that I could wholeheartedly endorse this. But everybody was stunned by this. Not just the usual experts were surprised. Everybody, and I'm wondering...



Noone with any sense thinks Rush has anything important to say except racists and bigots.

Dragoness's photo
Sat 02/06/10 08:03 PM


I don't see many Illegals going without work. Every winter, there was a steady flow of them coming back towing cars and trucks full of stuff to sell in Mexico.

In the spring, They'll go back to their jobs.


The last that I've heard is that many of them went back home due to the job market here. The jobs are just not there.


And the employer base was cut back due to the awareness of the illegals working.

cashu's photo
Sat 02/06/10 08:06 PM
Edited by cashu on Sat 02/06/10 08:12 PM

Obama and the Democrats are working on jobs creation legislation to get America back to work. I think they will do the best they can with this.
ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
He hasn't done anything . Except talk and spend money saveing the rich from being late to dinner .
TYSON CHICKEN GOT RID OF THERE ILLEGALS . THEN TO GET LEGALS THEY RAISED THERE PAY SCALE BY $4. PER HOUR .

Dragoness's photo
Sat 02/06/10 08:11 PM
The predictions were bad.

If Obama stops us from going into a depression then he accomplished what he was trying to do.

We were headed for a depression and it looks like we won't see it up to this point.

cashu's photo
Sat 02/06/10 08:13 PM

The predictions were bad.

If Obama stops us from going into a depression then he accomplished what he was trying to do.

We were headed for a depression and it looks like we won't see it up to this point.
mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
BULL

Dragoness's photo
Sat 02/06/10 08:22 PM


The predictions were bad.

If Obama stops us from going into a depression then he accomplished what he was trying to do.

We were headed for a depression and it looks like we won't see it up to this point.
mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
BULL


NOT

DaveyB's photo
Sat 02/06/10 08:54 PM


The predictions were bad.

If Obama stops us from going into a depression then he accomplished what he was trying to do.

We were headed for a depression and it looks like we won't see it up to this point.
mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
BULL


LOL, how eloquent. Take of them rose colored glasses. I'm no great fan of Obama, but you think short of total collapse of our economy could get a republican to write and vote for a trillion dollar bailout?

MiddleEarthling's photo
Sun 02/07/10 08:57 AM
Edited by MiddleEarthling on Sun 02/07/10 08:58 AM

The predictions were bad.

If Obama stops us from going into a depression then he accomplished what he was trying to do.

We were headed for a depression and it looks like we won't see it up to this point.


The RW nutbaggery would LOVE to have a Depression worse than before...that's sadly the only way for them (as they see it) to regain their power....by weirdly blaming the people who are tring to help recover from the disasters of the precious GOP's rule.

Fail to win? Really?

It will be interesting this year to see them run on an obstructionist platform...

Giocamo's photo
Sun 02/07/10 09:06 AM

The predictions were bad.

If Obama stops us from going into a depression then he accomplished what he was trying to do.

We were headed for a depression and it looks like we won't see it up to this point.


we ARE in a depression...thanks to Barry and his policies and anti-business rhetoric...

Giocamo's photo
Sun 02/07/10 09:09 AM
Edited by Giocamo on Sun 02/07/10 09:12 AM
here's the facts:...from 1994 - 2006 when the Republicans controlled congress...the average annual deficit was 104 billion dollars...in the last three years when the democrats have controlled congress...the average annual deficit has been 1.35 trillion dollars...in other words...the deicits the republicans were running up on a yearly bases...the Dems are doing monthly...LOOK IT UP !!!!!

MiddleEarthling's photo
Sun 02/07/10 09:19 AM

here's the facts:...from 1994 - 2006 when the Republicans controlled congress...the average annual deficit was 104 billion dollars...in the last three years when the democrats have controlled congress...the average annual deficit has been 1.35 trillion dollars...in other words...the deicits the republicans were running up on a yearly bases...the Dems are doing monthly...LOOK IT UP !!!!!


Really? More fuzzy math...



Again, it's bizzare that the GOP ran up our deficits then blamed the DEMS for having to spend to recover from it to avoid a complete economic breakdown.