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Friday, September 05, 2008

Unemployment Rate Rises to 6.1%

The unemployment rate jumped to 6.1 percent in August, its highest level in five years, as the erosion of the job market accelerated over the summer.

Employers cut 84,000 jobs last month, more than economists had expected, and the Labor Department said that more jobs were lost in June and July than previously thought.

So far, 605,000 jobs have disappeared since January. The unemployment rate, which rose from 5.7 percent in July, is now at its highest level since September 2003.

Jared Bernstein, economist at the Economics Policy Institute in Washington, said eight months of consecutive job losses had historically signaled that the economy was in a recession.

“If anyone is still scratching their head over that one, they can stop,” Mr. Bernstein said.

Comments

Lefties love bad economic news; what’s bad for America is good for the Dems/lefties/MSM.


Save America; boycott the MSM.

robert108 on September 5, 2008 at 09:39 am

The truth: 93.9% employment.


Save America; boycott the MSM.

robert108 on September 5, 2008 at 09:40 am

The failing economy proves gop policies don’t work.

What good for America is to get the gop out.


Excuse me, you were saying?


realitybasedbob's signature
realitybasedbob on September 5, 2008 at 09:42 am

’s


Excuse me, you were saying?


realitybasedbob's signature
realitybasedbob on September 5, 2008 at 09:44 am

Just think if the Democrats weren’t forcing US employers out of work with their environmental, labor laws and other things they screw up.

It seems the economy started going backwards in January of 2007.  What happened then?


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on September 5, 2008 at 09:45 am

"realitybased"bob asserts, The failing economy proves gop policies don’t work.

And then fails to support that assertion with anything beyond 6.1 percent unemployment, a figure of which is hardly a mark of a “failing economy”.

likwidshoe on September 5, 2008 at 09:52 am

good point Lik.  I change my statement, that the economy is going backward.  It’s weakened since Jan 2007.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on September 5, 2008 at 09:54 am

Not to mention the fact that CONGRESS controls the federal budget, which is hardly the same thing as “the economy”. The two are intertwined and affect each other, but they aren’t the same thing.

But you don’t hear bob moaning about the Democrat controlled Congress and giving them blame.

Gee, I wonder why. Maybe it is because bob is a dishonest partisan schmuck.

likwidshoe on September 5, 2008 at 10:02 am

GDP grew at 3% in the second QTR.  The Dollar is strengthening, forcing oil prices back down to $100 a barrel.

The real problems we have start with high oil prices.  And the explanation for that is pretty simple--we are too dependent on foreign oil.  So either we start gassing up with corn or hydrogen or we drill for some oil.

Notice how only the last idea is actually viable.  Ethanol is simply a big handout to farmers and hydrogen powered cars are years away.  But that is the Dem’s economic policy in a nutshell.  Impractical ideas that put the environment before the American people.  Put labor unions before consumers.  Put the poor before tax payers.  And when people are out of a job because of these sorts of decisions, they are more likely to vote Democrat.

The economy grew robustly for 5 years between 2003 and now.  How does Bob explain that when using logic about failed GOP economic policies?  Note how the economy stopped growing when Dems took control and note how the markets are scared shitless and not investing any money out of fear of Barack and his economic policies.  I think investors know what is good for the economy more than poor people.  And investors know Barack isn’t good for the economy.  But he will be good for poor people in much the same way Marx was.  Until his policies destroy the economy completely and put us so far in the red, we end up like Europe.

Justin B. on September 5, 2008 at 10:04 am

It’s weakened since Jan 2007.

Only in the MSM; the actual numbers are getting stronger.  Don’t be deceived.


Save America; boycott the MSM.

robert108 on September 5, 2008 at 10:08 am

So either we start gassing up with corn or hydrogen or we drill for some oil.

Neither hydrogen nor corn ethanol are the answer.

Hydrogen because it’s not a source of power but rather a medium. (Like electricity you have to use another power source to produce it.) The other problem is that it’s a very difficult thing to contain and handle.

Corn ethanol because it doesn’t create that much new energy and it has led to higher grocery prices in addition to consuming a lot of tax dollars.

I don’t mind paying at the pump but I don’t think I should have to have money taken out of my paycheck and pay more in the grocery store.

Ethanol might be part of the answer, but it’s not going to be from corn.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on September 5, 2008 at 10:11 am

Only in the MSM; the actual numbers are getting stronger.

It was stronger in this last quarter but employment hasn’t been as strong as we’d like. 

Things would be much better if we got the liberals out of the way and quit expending capital resources on their stupid programs.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on September 5, 2008 at 10:12 am

The Democrat plan: raise taxes, refuse drilling, more economic restrictions, expanded government on all levels, socialize health care, and increase wage cost.

Idiots lap it up.

likwidshoe on September 5, 2008 at 10:13 am

Things would be much better if we got the liberals out of the way and quit expending capital resources on their stupid programs.

There is also the factor of a possible Obama Presidency.  Most investors are moving to protect their assets from his policies of confiscation of capital wealth.  A Palin/McCain victory will result in an uptick about three months after the election.


Save America; boycott the MSM.

robert108 on September 5, 2008 at 10:23 am

Hydrogen because it’s not a source of power but rather a medium. (Like electricity you have to use another power source to produce it.) The other problem is that it’s a very difficult thing to contain and handle.

Hydrogen is derived from water.  Why use a known scarce resource that is essential to human life, for fuel?  It seems insane to me.
The fuel truth is that only gasoline and diesel produce more than they cost, which is why TBoone is lying about the “transfer of wealth”; we make money from what we spend to purchase foreign oil; otherwise we wouldn’t buy it.


Save America; boycott the MSM.

robert108 on September 5, 2008 at 10:26 am

Hydrogen is derived from water.  Why use a known scarce resource that is essential to human life, for fuel?

I’m assuming you’re being facetious. 

However hydrogen for industrial uses are derived from hydrocarbons such as methane.  Producing it from electricity is easy to do, but apparently isn’t at all efficient.

And of course that begs the question what do you use to produce the electricity?

But there is plenty of water, almost oceans of it and burning it will result in regeneration of the water in the natural precipitation cycle.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on September 5, 2008 at 10:49 am

But there is plenty of water, almost oceans of it and burning it will result in regeneration of the water in the natural precipitation cycle.

Interesting point, but that is also true of auto exhaust from any hydrocarbon fuel.  The distribution of that precipitation is the problem.  In any case, oil, coal and natural gas is stored and concentrated sunlight, and are the best energy sources so far.  All the other ones cost more than they yield, which loses money.  Not a good idea.  If they worked, they wouldn’t need subsidies and mandates.

I wasn’t being facetious, btw; deriving hydrogen from any source produces more problems than it would solve, and that includes using water as a source.  We can use the hydrocarbons directly, with a higher level of efficiency.
I don’t think pumping our oceans to run vehicles is a good idea at all; in fact, I consider it to be insane.


Save America; boycott the MSM.

robert108 on September 5, 2008 at 10:56 am

That’s why I’m against solar power.  I don’t want to run the sun down.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on September 5, 2008 at 11:03 am

That’s why I’m against solar power. I don’t want to run the sun down.

Exactly why we should be using the stored and concentrated solar power in oil, coal and natural gas.  That way, we’re “saving” solar power by not using what is being freshly produced.  Good reasoning!


Save America; boycott the MSM.

robert108 on September 5, 2008 at 11:06 am
Avatar for Kevin

Isnt this Robs blog?  Anyway - There are 5.2 million job openings and 9 million unemployed.  Many experts believe that 50,000 online job boards are to blame for fragmenting the job market and making it difficult for employers and job seekers to connect.  Here’s the 3 newest sites from About.com’s top 10 Employment list:

http://www.linkedin.com
http://www.indeed.com
http://www.realmatch.com

Theres a perfect job out there for everyone!

Kevin on September 6, 2008 at 08:21 am
Proof
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12823 comments
Send a private message

That’s why I’m against solar power.  I don’t want to run the sun down.

I have it on good authority that 100% of our solar energy comes from outside the United States.

I think we need to stop our dependence on Foreign Sun.



Barack Obama: All hat and no cattle since 1997!


Proof on September 6, 2008 at 08:41 am
Avatar for Osama Obama

Government Mandated Increase Of The Minimum Wage - It’s still being phased in.

Osama Obama on September 9, 2008 at 03:38 am
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