Unemployment up after today's report:

[glwilson]

Well... unemployment is up to a national average of 9.8% so far.

Approximately 10 states have unemployment in the range of 15% -- some with a bit more than that.

These numbers do not include the under-employed: i.e., those who are working at jobs paying far-less than they were previously. If one includes that estimate - the number is around 15% nation-wide as an average with certain state's unemployment reaching into the 20+% range.

Just look at any ten people you see and know that on average, one of them is not employed. In some states it would be one if five. That is a large number of people not buying; and having a very difficult time paying all their bills. This will result in far more defaults on loans of all types; and more businesses laying-off workers as they lose customers.

9.8% exceeded our prediction from a year ago. Around 8 months ago we raised our prediction of unemployment to reach 10%+ sometime in 2010 -- likely by the first-quarter.

This level of unemployment has serious ramifications on the overall economy's ability to recover.

The debates are "on" regarding the actions of our government and whether they made the correct "moves" to help this problem. You'll hear the Democrats reaffirming that their actions will eventually work... while more and more believe (and are possibly seeing) that it is not working; nor will work -- but will rather leave our country in precarious position of being debt-laden with little-to-no additional monetary resources to reverse the situation.

Personally, I would like to have seen far less fiscal spending; and more tax-cuts & incentives for businesses to expand their businesses.

It is my opinion that we are in the midst of a prolonged unemployment problem (on top of a credit-crisis where people own far too much debt). There is not a clear-picture or plan as to how Washington will address the lack of production of goods and services to the world. The situation paints an extremely serious situation that has no easy answers.

At this point; a large number of businesses (large and small) that we are talking to (my company speaks to thousands of businesses weekly) have indicated no intent, or interest of expanding their operations in an environment of government intervention, control, higher taxation; and "downright" animosity toward business in general. In other words... businesses are being dis-incentivized to make any long-range plans or financial commitments in fear of what our government may do that will adversely affect them. Many of these businesses are looking to move whatever operations they can out of the U.S.

We'll see how voters handle our "representatives" in Washington as this economic crisis becomes prolonged with the serious drag of unemployment and an apparent lack of true focus on incenting job creation by Washington.

One cannot expect to see a reasonable recovery when the consumer is not going to be involved; while at the same time the business-community is being punished.

Given the circumstances as they are; it is anyone's guess as to how the U.S.'s economy will recover in a meaningful manner over a reasonble period of time.

[Yellow Jacket]

I've been part of the "unemployed statistic" since January 08. Here in Georgia no one seems to be interested in hiring anyone in their sixties. I'll be 66 this coming December and beleive me, age discrimination is alive and well. You just can't prove it.

[Cajunrider]

Things are looking bleak and will remain so for a while. Tax cuts for individuals and businesses do work in stimulating the economy but I don't see either for at least a couple of years. The current regime won't hear of it. Keep your change Husien.

[NRiderUSA]

9.8% with counting method used, 17% if everyone was counted..... amazing how they can tell you the truth based on methods of lying isnt it?

"unemployment rate rose to 17 percent, the highest on records dating from 1994"
http://www.glocktalk.com/forums/show....php?t=1125783

By the way just a curious fact check, who was running the show in 1994?

[Yellow Jacket]

Originally Posted by NriderUSA

9.8% with counting method used, 17% if everyone was counted..... amazing how they can tell you the truth based on methods of lying isnt it?

"unemployment rate rose to 17 percent, the highest on records dating from 1994"
http://www.glocktalk.com/forums/show....php?t=1125783

By the way just a curious fact check, who was running the show in 1994?

"I did not have sex with that woman!"

[Cajunrider]

It depends on what "is" means.......

[glwilson]

While I see Nrider's point; unfortunately the current unemployment number hasn't been seen since 1983.

[NRiderUSA]

I just read the article this morning (on fox, but I know how some think if Fox said it they wont read it so I found it at several other sources) anyway, it said 1994.....either way the whole point is how they count and have always counted the unemployed. 9.8 from 17 is almost a half count of reality....shows the manipulation of statistics that is done to accomplish whatever it is they want to get....

[chainsaw]

Bob, I guess all that's left for us "old timers" is to be a greeter at WalMart.

[glwilson]

Originally Posted by NriderUSA

I just read the article this morning (on fox, but I know how some think if Fox said it they wont read it so I found it at several other sources) anyway, it said 1994.....either way the whole point is how they count and have always counted the unemployed. 9.8 from 17 is almost a half count of reality....shows the manipulation of statistics that is done to accomplish whatever it is they want to get....

You are correct in the manipulation of the numbers. I alluded to that in my post but won't bicker over the exact number -- but it is safe to say a lot of people are out of work, and there are going to be a lot more to come yet.

Some of the economic reporting I read provides a good argument of seeing around 15% (as the government reports it) unemployment by the end of 2010 -- just about at the time of the next elections. (Note that 15% unemployment will truly translate out to somewhere around 20% unemployment -- a number nearly approaching the great-depression's numbers.)

So... if that were to happen... be sure to look for some extraordinary speeches by your politicians and some extraordinary fiscal-spending in an attempt to sway the votes.

PS: Al, the greeter positions have a one-year waiting list in my area. So... get your app in now.

[Dave]

"We'll see how voters handle our "representatives" in Washington as this economic crisis becomes prolonged with the serious drag of unemployment and an apparent lack of true focus on incenting job creation by Washington."

Unfortunately the voters will likely be sheep and vote Republican. Most people don't even look at third parties. I've always believed there's no difference between the Democrats or Republicans.

It's time for another revolution! We've already got the Constitution. We just need to retake our country back and throw the whole lot out! State and Federal!

[Cajunrider]

I'm a card carrying Republican, in case some of you haven't figured that out yet. But that doesn't force me to vote for the Republican candidate. I research their voting records and scrutinize any candidate's record before flipping the lever over their name. The number 1 qualification is they have to be pro-life. Everything falls in behind that. I was looking at Dr. Ron Paul in the past election and will be looking at him alot more intensely if he is in the race next go round. I read his book and the man makes one hell of alot of sense. He predicted very soundly what is happening now well before the past election. His problem was the mainstream media who moderated the debates asked him questions with the sole intent of making him look like a loon, and they succeeded. :(" title="" border="0"/>

[lw]

Originally Posted by glwilson

You are correct in the manipulation of the numbers.

As the saying goes: "Figures dont lie; but Liars Figure"



Silence is acceptance. Be LOUD!!

[NRiderUSA]

The government is a living entity and is going to survive however it has to and they have perfected misdirection better than a magician can do it.

Pay no attention to the man behind the curtain gets everyone looking over there while the real thing is going on elsewhere.

We are just fleas in this circus.

[jesse]

Until we get unbiased media, no one knows any of our representatives! They can be made to look like what ever someone wants. The American people have been duped for so long now, it just comes natural. Their term Bipartisan is getting old, it is used to make someone look good or bad depending on their wants. What happened to doing what is right and telling the truth?