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.