Unemployment Reaches 9.5 Percent, Highest in 26 Years

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diet list of 3:16AM March 27, 2010

Back in January Obama predicted the unemployment rate would go to 8% unless the the stimulus bill was passed immediately. It was passed without most Congressmen even reading the thing. And the forecasts were seriously flawed as they continue to be in other preposterous political projects.
Now it has been passed and the unemplyment rate has continued to go up to 9.5% under Obama to the tune of over 2 million lost jobs since he took office and over 500,000 of the unemployed dropping off the list in June because they no longer are even looking for a job.
Obama's Stimulus Bill was not targeted to help the economy. Instead it target tons of Liberal Democrats social re-engineering project which stimulate the political agenda, but not the fiscal agenda.
Why has only $53 billion of the stimulus package been approved thus far? NOT implemented, only approved!
Now there is talk of additional stimulus funding! That is riduculous! Just use the remainder of the $734 billion that has already been approved and put it to work creating jobs now rather than in future years for winning campaigns when it will be too late and on stupid, stupid earmarks that have no economical benefit.

Ken of WI 3:07PM July 06, 2009

This really should not have been a surprise. Jobs changes in the US are now driven by construction. Construction spending data a day earlier showed a 0.9% decline, which translated in nearly half a million jobs lost.
Mass media is not reporting on this relationship for some reason, but that shouldn't be a surprise either. Housing recovery will be key to any significant economic improvements, just as it's decline had led to the recession.
http://www.SoberLook.com

Walter Kurtz of NY 5:33PM July 03, 2009

Obama’s ill-advised $700B+ "stimulus" program is a train-wreck: these jobs figures are far worse than the ones the White House warned us about if we DIDN’T pass the bill- so it was passed, and then unemployment soars anyway?
Instead of creating jobs, interest rates were bumped up, the dollar slid... and it didn’t help anybody get any work. Much of this is due to the fact that Obama’s radical agenda has mortified almost every machine of job-and-growth creation in the country.
The One couldn’t deliver the type of "temporary, targeted, and timely" bill that he promised repeatedly- regardless of his image in the MSM as omnipotent, Obama simply lacks the the political stature to control Pelosi and Reid… who hit the trough hard, while bickering like siblings.
And the lack of GOP co-conspirators exposed Obama politically… this legislation now looks to be a HUGE gamble. When all this pork-n-welfare fails to generate any real economic gains, the Democrats will face a bloodbath in 2010.
One could even make the argument that Obama knows his legacy will be in tatters by 2012… and is just ramming through as much of his far-left agenda as he can before the day comes when people cringe at the mere mention of his name… sure seems like it.
http://reaganiterepublicanresistance.blogspot.com/

Reaganite Republican of CA 12:00PM July 03, 2009

IMHO, This news is not about unemployment, economic class, poltical party, etc..
It's the begining of a racial division. What is not explain in this article is the percentage diff from asians, whites, hispanics, and blacks?
what we dont talk about enough is that Obama represent alot of people with the "I am a victim" mantra, vice lets just shut up and goto work culture.
The different between the two is that, victim mindset needs to blame others and will do everything to make the playing field equal. But sadly, economy is not fair.. if you work hard, you will be rewarded, this is why the goto work culture will surpass the victim mindset culture. lets look at the number on race again..
welcome to the change.

Asian Bob of CA 4:21AM July 03, 2009

A simple way to Americans back to work without wasting billions of taxpayer dollars
Create American jobs by ending H-1B and L-1 Corporate Visa fraud and abuse.
And, we have the tools to make it happen. US Senate bill, S.887.
S. 887 - Senator Dubin's new bill to reform H-1b and L-1 Corporate Visa Fraud and Abuse to protect American jobs and ensure Americans get a fair chance to compete for jobs in our own country.
Congress – Support S. 887. No more American layoffs. Fix H-1b and L-1 Fraud and abuse NOW.
Americans we need your help. Insist elected officials support S.887. We must stop corporate Stop visa fraud and abuse before more Americans and lose their jobs, their homes, their savings, and their insurance.
Unemployment and Visa Workers
A criminal investigation of H-1b visa fraud, the US DOJ found
- H-1B workers OUTNUMBER UNEMPLOYED American techies
- H-1B employers DISPLACE QUALIFIED American workers and DEPRIVE U.S. citizens of employment.
- H-1B workers in Information Technology "substantially" exceeded the 241,000 unemployed US citizens in the same occupation.
And, that's the tip of the iceberg. Corporate Visa Fraud? 20%
http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9133529
How did this happen?
Corporate greed. Bottomless lobbyist funding. Microsoft H-1B lobbyist? Convicted felon Jack Abramoff.
The result of this toxic formula - Congress passed laws that make it legal for employers to lay off Americans and recruit their replacements exclusively offshore.
Why Microsoft can’t find qualified local talent and needs to go offshore?
Lay off Americans. Replace them with corporate visa workers. Solicit laid off Americans and offer 50% for their old jobs.
ACT NOW BEFORE ONE MORE AMERICAN GETS LAID OFF AND REPLACED BY FOREIGN CORPORATE VISA WORKER
Please Tell Your FRIENDS, FAMILY MEMBERS, and COLLEAGUES. Tell them to INSIST their elected officials support S 887.
Help us create American jobs by ending corporate visa abuse and fraud, and give Americans a fair chance to compete for jobs in our own country.
For more information about the bill and how together we can restore American jobs for American citizens please visit www.brightfuture.jobs.

Jobless in Seattle of WA 5:05PM July 02, 2009

I think its great how people voted for Obama because they thought that he would solve all their problems. Every month that goes by makes it harder for the Obama Administration to lay all of the nations economic problems on President Bush. Eventually, unemployment will reach a tipping point after which a majority of the public starts holding Obama accountable. Claiming that the 3/4 trillion stimulus has saved jobs is the same as arguing Michael Jackson would have died much earlier had he been in worse health. Give me a break. Its time that generation X and all of the youngsters who supported Obama realize that he is as ineffectual as all politicians. Additionally, his spending on the stimulus and proposed health care plan are sinking this country deeper and deeper into reckless debt. Eventually someone is going to have to pay for everything.

Jack Steel of NY 3:23PM July 02, 2009