#4
Clearly what Obama is doing now isn't working. Why isn't this page one news?
Gosh its almost as if Obama intentionally schedules his campaign style Immigration speeches right around the time these horrible economic reports are released. I dont know about anyone else but another MSNBC talking head said his speech gave her chills. Maybe I shouldnt be so cynical its probably just a coincidence. Besides its Recovery Summer Bayyybee!
#5
Of course it's "faltering," because the recovery was nothing more than another liquidity-fueled mirage. Our government has transferred trillions from savers, who earn next to zip on their accounts, to the banks, who are now sitting on massive reserves and have no intention of increasing lending. In addition, millions of households that used to have negative worth have finally started to move into saving mode.
Banks aren't lending. Consumers aren't spending-- except on their addictions such as crap food, alcohol, cigarettes, pr0n, gaming/gambling, and shiny new toys made in China by Apple and their ilk.
When an economy that was based primarily on millions of households buying $hit they didn't need with money they didn't have shifts to one based on bread and circuses, you have to take a lasting hit.
The economy is simply re-setting at a lower level. This will take at least another year. When US households finally have, in aggregate, a 9-month cushion against loss of income due to unemployment or reduced pay, THEN we will see people spending again on more than candy, nicotine and iPhones.
No, because it fell due to the number of perople simply giving up on employment searches as futility. Good job Oblahblah, Nancy, and Harry. Worst admin and congress ever?
via Hotair: The civilian labor force participation rate fell by 0.3 percentage point in June to 64.7 percent. The employment-population ratio, at 58.5 percent, edged down over the month. (See table A-1.)
In June, about 2.6 million persons were marginally attached to the labor force, an increase of 415,000 from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)
Among the marginally attached, there were 1.2 million discouraged workers in June, up by 414,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.4 million persons marginally attached to the labor force had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See table A-16.)
Posted by: Frank G ||
07/02/2010 10:11 Comments ||
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#2
it fell due to the number of perople simply giving up on employment searches as futility.
No. it fell because 100s of thousands of workers no longer qualify for unemployment benefits. Expect that number to grow into the several million in the next several weeks. The "unemployment rate" may go down, but expect a huge uptick in houses being foreclosed, cars being reposessed, etc.
Posted by: Frozen Al ||
07/02/2010 12:48 Comments ||
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#3
I guess I beat the rush, then - I gave up trying to get hired on anyplace last year, and took up freelancing. Wave of the future - independent contracting/temping? You sure as heck don't have to stick around long enough to get bored. And setting my own work hours and schedule is absolutely to be treasured.
#4
#2 - you left a gap in the sequence of events. Something about the government messing with the unemployment statistics to make things look better than they really are.
#6
Anecdotally, unexpected numbers of people are choosing to formally retire earlier than planned because they don't see the possibility of an end-of-career job and they're reaching the end of unemployment benefits.
#1
Are these guys retarded?
If you want to go to Cuba, go. Just fly through Mexico City, they don't stamp your passport when you go to Cuba. I have several family members that have gone at least once. Prices are cheap, stay in the tourist zone and you'll be safe.
Move on to job creation you idiots.
#1
Barrasso said the newly proposed commission which he said is modeled after the 9/11 Commission is needed to provide a truly unbiased bipartisan review of offshore drilling in the wake of the Gulf of Mexico spill. Obamas commission appears to me to be stacked with people philosophically opposed to offshore drilling, Barrasso said.
Ah, yes, partisan politics again trump science and engineering. Another useless commission like the one set up before it and also the 9-11 commission.
Posted by: Alaska Paul in Reykjavik, Iceland ||
07/02/2010 6:02 Comments ||
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#2
And now we'll get that oil sopped up twice as fast.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
