The summer of Recovery! More unemployment numbers

@dboman (457)
United States
August 12, 2010 10:19am CST
As an unemployed college graduate, *this* close to taking a manual labor job, this topic is extremely important to me. So...here's the latest news on unemployment: Initial unemployment claims rose by 2,000 to 484,000, exceeding "economists" expectation by 20,000...the highest number since February. The overall unemployment rate stayed the same at 9.5%, but private sector employment increased by 71,000. Employment decreased by a total of 131,000 due to a drop in temporary census employment of 143,000. http://washingtonindependent.com/94565/initial-jobless-claims-rise-to-highest-level-since-february http://www.bls.gov/news.release/empsit.nr0.htm So, hearing all this, what do you guys think about Recovery Summer announced by the Obama administration in June? Isn't this the last month of summer? Does it seem like there's been an economic recovery?
1 person likes this
5 responses
@laglen (19782)
• United States
13 Aug 10
ok Dboman, time to go back to basics. When the economy is in the tank, what industries go up? Bar and liqour stores ( I am a bartender). Have you applied to work at the unemployment office? welfare office? Rentals because everybody is losing their homes. the unemployment numbers are a joke. This is not the number of people unemployed, only the number of people still eligible for unemployment benefits. There are thousands dropping daily. Any other jobs you will have to wait until the government opens new offices to employ a handful of people. Private sector is going away, there is no motivation to employ people here. Looking for a job? try India - http://economictimes.indiatimes.com/news/news-by-industry/jobs/Obamas-policies-will-send-more-US-jobs-to-India-Bobby-Jindal/articleshow/5514796.cms
@laglen (19782)
• United States
13 Aug 10
that sounds like a true winner! It would be providing a service to the neighborhood as well as stimulating the economy!
@elmiko (6640)
• United States
13 Aug 10
i think their should be a stimulus to create jobs for average working americans and not those high paid banks and bankers. if that were to happen the stimulus overall wouldn't be no where near as much as the bank bailouts that have already happened. at think its the least the government could do for the average working american.
@dboman (457)
• United States
13 Aug 10
That's what the first stimulus was supposed to be, but instead of using it for private sector it was used for government union payoffs, implementing social change, and further prolonging the budget shortfalls of the state. If the first stimulus was used for what you suggest, I think the economy would be in a much better state than it is right now.
• United States
12 Aug 10
Someone needs to tell Obama that we are NOT in an economic recovery. He was able to pull the wool over many peoples' eyes with his blatant switcheroo with the census employment numbers but he cannot use that scam anymore.
@dboman (457)
• United States
12 Aug 10
I think they're finally figuring that out. Wasn't it the Treasury that admitted recovery was slower than expected recently?
@bestboy19 (5482)
• United States
12 Aug 10
If the unemployment rate has remained the same, where is the recovery?
@dboman (457)
• United States
12 Aug 10
Good question...I'm gonna go look in the shed.
• United States
12 Aug 10
The "economist" are saying our economy is slowing back down and not recovering. The bail out and tarp money was only a band aid and that now that it has run out....we are slowing down again. Or so they say. I know I live in a state with over 12% unemployement. It hurts. people get laid off...the chance of finding a new job is slim and none and especially a good paying job. We definately are not seeing thing getting better here. If anything it seems to be getting worse. two of my neighbors are in the process of loosing their homes because they lost thier jobs. One found another one at almost 1/2 what he was making before so he can't afford the house anymore even with a new job so they are letting the house go and moving into an apartment with his family. His college degree does not mean jack right now. the number of empty houses in my neighborhood grows monthly. I don't live in a fancy neigbborhood. Just an average middle class neighborhood. There are houses in my neighborhood that have took empty for over a year. No one is buying. No one has the money. Tons of retired people in my area have taken such a big hit on their retirement accounts they have are now looking for jobs. My bag "boy" at the grocery store the other day had to be in his 70s. It is the same story all over the country. People NEED jobs...but they are not there. Not decent paying jobs where you can actually pay your bills. Did you see the report that the dollar is still dropping? It was on CNN the other day.The stock market took another dive. the economy is NOT recovering. Congress is actually talking about another round of bail outs (god help us). They need to stop putting band aids on it and fix it...but you want my opinion? They don't know how to fix it...all they know how to do is throw money at a problem and hope it goes away...if it doesn't....throw more money at it. Which causes the problems to get worse because it causes the dollar to drop further and the economy to go even further down. I feel for you. I really do. I wish I had an answer for you. But all I can tell you is you gotta do what you gotta do. You may not like the job or the pay but you gotta make money. Here you can't get manual labor jobs (and people want them badly...ANY JOB) because the illegals have taken them. Me and my family have had to really tighten down our budget to make it. Every penny counts. If hubby looses his job...God help us. Because I don't see him finding another good paying job to replace it. I don't see it getting better anytime soon. Keep your chin up and good luck to you and your family. Know that the rest of us are hurting right along with you.
@dboman (457)
• United States
12 Aug 10
Thanks for the well wishes. I'm shaking trees, hoping something is going to fall out. I think I may set a record for second interviews without a job. ;) I'm not sure what Florida's unemployment is, but construction (my field) has over 20% unemployment. I was recently told that I was second for an entry level job...the guy who was hired had EIGHT years of experience. I have noticed a larger portion of supermarket employees are no longer teenagers, but older people. I've been applying for retail jobs at $9-10 an hour, with management experience and a business minor...yet I haven't even been getting calls back. Makes you wonder who is applying for these jobs...Harvard grads? Anyways, I'm not too worried about my situation, as I know that if you work hard you'll be able to make your own way in life (even with Democrats in power). I've got a few more trees to shake and interviews to go on before I throw in the towel and start hanging duct. The dollar will continue to drop as long as the government continues to spend and borrow and keep the interest rates low. You're right that they don't know how to fix the economy, but they claim they do. Unfortunately, nice words and reassurances don't help the economy. Neither does another costly entitlement, increased taxes, and more regulations for ALL businesses. Hopefully, though, we'll make it through...even if it takes several years to get out of it.