Unemployment Skyrockets!

Thursday, April 03, 2008

Unemployment Skyrockets!

By Rob on April 3, 2008 at 08:22 pm

That’s the big story in the media. The unemployment rate is skyrocketing! People are losing their jobs! We’re headed to a recession...according to experts and their predictions.

What they’re saying is that we’re heading back to jobless claim levels we saw in 2005...when the average unemployment rate was around 5% all year. A level most economists consider “full employment,” and one that is several points lower than the European Union.

But what does the media, and the opportunistic politicians who feed off their pessimistic reporting, care about “fact” and “reality?” It is perception that is more important than reality, and if these people can convince Americans that the economy is bad then the economy will be bad.

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Bat One
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The unemployment rate is skyrocketing!

Don’t bet on it! From CNN, of all places, comes news of the more realistic ADP Report.

NEW YORK (CNNMoney.com)—In a surprising flash of good news for the U.S. economy, businesses added jobs in March, according to a survey of private sector employers released Wednesday.

Payroll services firm ADP’s employment report showed an increase of 8,000 private sector jobs last month.

Economists were expecting a decline of 45,000 private sector jobs, according to Briefing.com.

The report showed a revised loss of 18,000 jobs in February, which was the first decline in the two years ADP has been tracking employment data.

“This is an unexpected piece of constructive news,” said Bob Brusca, an economist at FAO Economics. “It suggests that the job market isn’t getting unequivocally worse.”

“Poverty of goods is easily cured; poverty of the mind is irreparable.”

Bat One on April 3, 2008 at 09:40 pm

In the future, we need a president who will appoint a “Bubble Czar”. Someone whose only job it is is to see bubbles forming in the economy and head them off before they get too frothy.

Dot.com, real estate - any time the value of a commodity rises about its fundamental intrinsic value as an asset used for its intended purpose, and money is lended to buy that asset at its inflated price, disaster soon follows.

Bill Mitchell on April 4, 2008 at 06:14 am

Kevin
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What did everyone expect when the “minimum wage” was jacked up?

Kevin on April 4, 2008 at 08:34 am

Proof
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Hillary is telling the story on the stump, of a little boy who pushes his way through the crowd, and Hilly has to bend down to hear him say his mother works for minimum wage, and when they raised minimum wage, her employer cut back her hours!
There’s a shock for you! Who woulda thunk it?

Those who think the party or the country, will be “taught a lesson” by handing the levers of power over to the liberals will learn a lesson, but it will be at the expense of our country and her liberties. And there are no guarantees that the party or the country will come out stronger, more conservative or better positioned to win elections against the incumbent liberals.

Proof on April 4, 2008 at 08:46 am

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