Unemployment rate predicted to move higher yet.

[Capitol Shock]

State and city governments are anticipating large layoffs due to the condition of cash strapped states and the lack of income.

We haven't seen this yet but many are predicting that it's on the way.

I predict that this will be George Bush's fault when it happens.

[SB Shock]

I continue to hear from people who manage money that the worst is not over, but it is to come.

I don't see any evidence of any hiring, but there is the constant fear of more layoffs waiting on the horizon due to a bad quarter.

[Capitol Shock]

I'm afraid that +10% unemployment is going to become the norm.

What a disaster this administration is becoming. Can you be impeached for incompetence even though everyone has pretty much figured out that it's not incompetence but intentional. Maybe treachery?

[WuDrWu]

Re: Unemployment rate predicted to move higher yet.

I predict that this will be George Bush's fault when it happens.

Way to go out on a limb there, CS. :shock:


Of course it will be Bush's fault. When will it stop being Bush's fault?

Watch for it.....the INSTANT there is job growth of any kind, it will no longer be related to Bush. It will be ALL President Obama's "fault".

[BenWSU]

Wal-Mart Stores Inc. says it is cutting 300 jobs at its Bentonville headquarters as part of a move to trim costs.

[ISASO]

Unfortunately because of their tainted past in the ugh, private sector 'for-profit' world, they are instantly disqualified as candidates for the plethora of new high-paying government jobs, especially high-level Obama administration jobs.

I wish them all luck. And remember, His Majesty Barack Obama has rescued our economy. There are 300 examples of the Obama Miracle.

[SHOCKvalue]

Wal-Mart Stores Inc. says it is cutting 300 jobs at its Bentonville headquarters as part of a move to trim costs.

Something tells me that's not going to have a great effect on NW AR's economy and it's current ~5% unemployment rate.

There are a few parts of the country which haven't been kicked in the nuts by this recession, and that's one of them.

[1979Shocker]

Unemployment rate falls to 9.7 percent

WASHINGTON - U.S. payrolls unexpectedly fell in January, but the unemployment rate surprisingly dropped to a five-month low, according to a government report Friday that hinted at labor market improvement.

The Labor Department said the economy shed 20,000 jobs after losing 150,000 jobs in December. November was revised to a gain of 64,000, up from 4,000. Annual benchmark revisions to payrolls data showed the economy has purged 8.4 million jobs since the start of the recession in December 2007.

[ISASO]

The real question is:

How many quit looking for work so the government quit counting them?

[WuDrWu]

Somewhat misleading though. A statistical anomoly didn't account for 500,000 jobs that were there last month. If I understand correctly, last month wasn't as high and this month isn't as low as reported, overall.

Job Market is still horrible. No jobs are being created. There is no reason to think any jobs are going to be created when taxes are about to go up.

Of course the federal payroll has increased in the neighborhood of 250,000 jobs which are only a drain and create nothing.

When will people learn?

[WuDrWu]

The real question is:

How many quit looking for work so the government quit counting them?

We'll never know because this White House and it's promises of "transparency" are no longer important.

"Don't pay attention to the man behind the curtain".

If ever something stupid was going to stick, it would be that.

[1979Shocker]

We'll have more of an idea on whether the job market is starting to turn around if construction starts to pick up during the spring.

[BenWSU]

In order to get counted by the government you have to file for unemployment. What about people like me that work part time as needed and could qualify for unemployment but have never filed ?

My guess is their`s 10 to 15 million people totally unemployed.

[ISASO]

The real number is around 17%. Why isn't His Transparent Majesty talking about that number?

[1979Shocker]

The real number is around 17%.

That's the number I heard when you count those that are no longer looking and those only working part time.