Unemployment Increase Is More Evidence of a Jobless Recovery
By Bonnie Erbe, Thomas Jefferson Street blog
I've written in earlier posts about the prospect of a jobless recovery. Today we see the unfortunate results of that accurate prediction made by many economists and bloggers, which few of us want to see blossom into reality. A government report released today reveals 263,000 jobs were lost last month while the president and Democratic politicians have been promising recovery and spending like gamblers at a poker chip sales booth. Say it ain't so, Barack.
Reaction to today's numbers was not good. Forbes.com posted as follows:
The talk of recession ending is confounded by one simple fact: The job market is not recovering. In September, the 22nd month since the recession began, an additional 263,000 jobs were lost, bringing the total number of unemployed to 15.1 million. The losses were worse than August, when 201,000 jobs were lost, but better than July's 304,000. The unemployment rate rose to 9.8 percent from 9.7 percent.
Yes, the rate of contraction is easing, but as Bloomberg.com reports we're still shrinking, not growing:
A report from the Commerce Department showed the worst U.S. recession since the 1930s eased more than anticipated in the second quarter. The world's largest economy shrank at a 0.7 percent annual rate from April through June, the best performance in more than a year, according to revised figures. Gross domestic product contracted at a 6.4 percent pace in the first three months of 2009.
I'm keeping my eye on oil prices. Right now they're hovering just below $70 per barrel. But even if we do start adding jobs and pull out of contraction mode, spiraling oil prices could push us straight back into contraction mode. Even $70 per barrel is too high right now. And if we don't get speculators out of the oil market, oil prices will continue to hobble the global economy.
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Tags: economy | unemployment
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Reader Comments
Interesting Article on the Recovery
I recently read an article published by CEO Q magazine on economic recovery, the new world order, and the impact of current economic policies. I thought i would share it with you as it has some very interesting facts and insights on the crisis and expected recovery.
Check it out: http://www.ceoqmagazine.com
My opinion of you Bonnie
I just read the opinion of Rosy from Texas. If you have people like this Niel Evans on your staff, I can now understand how you have whacked and goofy thoughts about what really matters. You should take care of business in your house concerning the disrespectful boy. I say boy because you cant call him a man for acting like that to his momma.
Here is a financial tip that will give you insight into the "jobless recovery" we are experiencing. If the dollar keeps falling in value, we are screwed! Real assets will always go up in value. Maybe that is why Lyndon wanted the silver out of our coins. Another democrat screwing us from beyond the grave.
Dr. Neil Evans
He is on your staff...
He wants to help kids.. save lives..
Well, I would like to give you a bit of back-ground on him... Outside of the fact that he married into MONEY and became Too Good For his own mother...
Everything I gave to him and his family was sent to the Goodwill... When I finally got the nerve to call him and ask why...
THIS is what YOUR DR... WANT TO SAVE LIVES... CARES ABOUT PEOPLE..
SAID TO HIS OWN MOTHER...
I did call late... well, 9:10 PM... to say... why did you give everything I gave you and your family for Xmas to Goodwill... He hung up on me...
He did call back... 1 minute later... and this is what your Dr... Caring person... Loving person SAID TO HIS OWN MOTHER:
How dare you call me this late... NO I F... ng dare you call me this late... I was asleep... my wife... NO my pregnant wife was asleep... My child was asleep... AND you call me about something so petty...
Don't ever call me again... I never want to see you again... and You will never see your Grand-daughter again.. and you Grand-daughter about to be born... you will never lay eyes on her..
AND when you die... none of your kids will be at your funeral... Because we all HATE you...
Right now... you are probably wondering what type of mother I was... well... I have never been arrested... I do not do drugs... I was at every PTA meeting... I was the cup-cake mom... I never left my kids in child-care... I worked my life around being with my kids at all cost...I never killed anyone... I loved my kids.. and devoted my life to them...
GEE... I was even there to pay for his books in college... NOT his DAD... JUST ME...
BUT... when he graduated Medical School... HE and HIS wife booked a Bed and Breakfast for Him, his wife, his wife's family... and his Father and Grand-mother... THE ones that PAID NOTHING... I was left on my own to book and stay alone where ever I could find...
What a great KID... What a Great SON... What a great Person...
DO I want someone so shallow to care for my friends kids... NO...
I did not raise my son to be this way... His daughter never dresses for a day that does not cost $80.00 plus... of course.. It has to be designer labeled...
I would like to go to a Dr. that I think cares about my kids life... NOT if he can pay for his daughter's new OUTFIT>
SO sad... BUT... HEY... THERE is the DAY... THE DAY when we are all peeled away... and revealed... Core revealed...
I am glad to say.. MY core is good... SAD to say that Dr. Neil Evans has been corrupted with money... and that is his only goal...
NOT LIVES... MONEY...
Harsh words from a mother that loves him... BUT as you can see from above...
I have been dealt some pretty harsh cards...
I fight for my sanity...
Do you kids hate you? Have they told you that they will not be at your funeral...???
Can you think of anything more hateful that a child could say to his mother?
This is Neil Evans
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