Think the worst is over? Wrong. Conditions in the U.S. labor markets are awful and worsening. While the official unemployment rate is already 10.2% and another 200,000 jobs were lost in October, when you include discouraged workers and partially employed workers the figure is a whopping 17.5%.
While losing 200,000 jobs per month is better than the 700,000 jobs lost in January, current job losses still average more than the per month rate of 150,000 during the last recession.
Also, remember: The last recession ended in November 2001, but job losses continued for more than a year and half until June of 2003; ditto for the 1990-91 recession.
So we can expect that job losses will continue until the end of 2010 at the earliest. In other words, if you are unemployed and looking for work and just waiting for the economy to turn the corner, you had better hunker down. All the economic numbers suggest this will take a while. The jobs just are not coming back.
LINK HERE
British scientists testing Ukrainian 'super flu'
LINK HERE
Just trying friends and family that though. You will be labeled the negative guy, not the guy that tells it like it is.
ReplyDeleteAnyone bought the freeze dried food advertised here? Any good?
ReplyDeleteThe door buddy bar is great. My garage entry door was wimpy. Now it would take a tank to get in there.
only 200,000 lost jobs? mmmmmm Did you ever stop to think, that the reason it has gone down is that we are running on empty? If you take in to account those to old to work, to young to work, and those in jail, the unemployed, just who is going to pay the tax bill? I do think it is going to get ugly!
ReplyDeleteAlso, layoffs slow as you approach the holiday season. My benevolent employer laid off 300 on Nov 6. They won't resume the carnage until Feb 2010--oh, thank you, thank you, thank you!! The irony is that I'm bringing more money than ever.
ReplyDeleteWe made it folks
ReplyDeleteNational Debt Exceeds 12 TRILLION!
KABOOM!
www.brillig.com/debt_clock/
My TV is telling me the "recession" is over, unemployment is down, the stock market is up and GDP is forecast at 3.5%. Once we put another 40,000 troops in Afghanistan to fight them terrorist, unemployment will go down a couple a points. The recovery is on, and my TV is telling me everything is good.
ReplyDeleteThe wars are going well, the new Cap & Trade bill passed, so we can make those carbon users pay when they pollute the atmosphere with that poisonous CO2 gas and the new Health Care bill should pass this week, things are looking up here in the good ole USA!
I think these doom and gloom forecast are put out by Al Qaeda, no doubt about it.
Well, time for me to go get me my swine flu vaccine, then off to my minimum wage job at Walmart. I'm planning on buying me a 48 pack after work and watching some Monday night football!
@ 6:10 AM
ReplyDeleteWow, you must have a PHD or above. Only highly educated people get those $7.50 an hour jobs...
Living the good life are ya ?
10:23 sounds like a terrorist to me. Probably one of them Al Queso terrorist who hate us for our freedom. We sale team shirts at my Walmart. They're one of our best sellers this time of year, and like the terrorist says, they be manufactured in China, our trading partner and friend.
ReplyDeleteI'm on my lunch break now, I gotta go watch my Fox news program, so I can see what's really going on in the world. Then back to the my cashiers spot till 5:00, then it's Monday night football! YEA! God I love this country.
10:23 - best post here ever, period.
ReplyDeleteI wonder how many times you can keep saying the same thing but in different ways and keep getting praised for it? Self-congratulating nymphomaniacs.
ReplyDelete