10.2%

[DCortez]

We've stepped over the line...


WASHINGTON (AP) -- The unemployment rate has passed the psychological threshold of 10 percent for the first time since 1983 -- and is likely to go higher.


[url]http://finance.yahoo.com/news/Jobless-rate-tops-10-pct-for-apf-563122944.html?x=0&.v=8[/URL]

 

[SiscoKid]

I'll just copy and paste what I said about this on another board. It referenced the same article....

Quote:
October was the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.

=====================================

Gee, now let me think back, hmmmmmm....... that would be about the end of 2007. What had transpired then? What was Peelosi and Reid concentrating on?

No. 1, making sure that Bush LOST the Iraq War. That was much, much, much more important than the economy, the price of gas, the unemployment rate, or .....

Quote:
And many companies are squeezing more production from their existing work forces. Productivity, the amount of output per hour worked, jumped 9.5 percent in the third quarter, the Labor Department said Thursday.

=================================================

So why the HE11 should they hire more workers when they are surviving with the workers they have, don't have to pay more payroll taxes, and may end up having to INSURE that they have health care sometime in the future????

--------------------------------
So, what's the answer? It sure won't come until November 2010.

 

[DCortez]

I'll just copy and paste what I said about this on another board.

Are you saying you've been seeing another board?

 

[Jeff B]

10.2%

Just think what dire straights we would be in now if Comrade Obama and his posse hadn't ridden to our rescue and passed the Porkulus Bill...

What 15%, maybe 20%? Oh yeah, the Porkulus was to keep us from hitting 8%. Hmmmnnn... I guess this brings Porkulus II into play then?

Jeff B.

 

[MadMo44Mag]

Well not much to say. We knew what was going to happen and now lets get ready for hyper-inflation to start.
Now don't worry if your un-employed cause Uncle Obama will extend your un-employment out for another year and don't forget there are food stamps. Also check you local government for more aid at the state level cause there's plenty of money to go around cause there are True Americans still willing to support your sorry lazy ass's!
Oh yeah and if aunty Nancy can help you'll have free health care too!

 

[TrailDust]

The number will go higher. Just wait till the housing market makes another adjustment within the next year or so....yes, that's a personal prediction and not based from any "authoritative" source. Just my two cents.

 

[DCortez]

now lets get ready for hyper-inflation to start.

That's the part that's bothering me.

 

[oldguy]

That's the part that's bothering me.

Mine concern also,plus if we hit 15% unemployment those who are working will need to stay home to guard their valuables with the thieves we have in society home burglaries will go up like a rocket.

 

[texas1willy2]

10.2 isn't even close to the real number, that doesn't take into account self employed people in: construction, realtors, mortgage people....... or people that just get payed a strait hourly wage and aren't eligible to draw unemployment.

We could probably name jobs for thirty minutes of people that aren't working or working very little.

I've read 17% as more accurate number but, I bet it's higher than that.

 

[BurkGlocker]

Man, dont get me started on this crap. I have been looking for a job going on four months now. BK, McD's, convience stores, digging ditches, anything, and I cannot find shit. I have sold all of my guns except three, I am about to have to sell the Wii, the Xbox, the TV, and probably a car jsut to survive if this shit goes on any longer. I have only had two interviews since being laid off, and there were 70 applicants being interviewed for one of them. Not very good odds.

The only thing that looks promising is the fact that my application to the PD was accepted, but still have to wait until the 14th for the interview, and then the physical tests. At least you will always need law enforcement, right? I am not a lazy person, and its friggen killing me being at home, not earning my living. The only good thing that has come out of it is that I am making up for the three years I lost with my kids working night shift. The kids are A-B honor roll now, instead of B-C-F grades.

I can surely see the change in them... and me as well.

 

[TrailDust]

I would throw this out that once--or should I say if--economic times improve and people get back to work, it would be very smart to put a lot more money into savings. Americans the last couple of decades have put little to nothing in savings and instead buying, buying, buying. When the hard times hit, having those savings to fall back on can help so much.

atriot:

 

[oldguy]

I would throw this out that once--or should I say if--economic times improve and people get back to work, it would be very smart to put a lot more money into savings. Americans the last couple of decades have put little to nothing in savings and instead buying, buying, buying. When the hard times hit, having those savings to fall back on can help so much.

atriot:

I agree pay off all debts as soon as possible, it would appear our leaders
wish to build a rich/poor society it will bring some hard years ahead.