Recovery Blunder: Jobs Picture Gets Worse
by PubliusFrom the Associated Press:
The employment picture is looking bleaker as applications for jobless benefits rose last week to the highest level in almost six months.
It’s a sign that hiring is weak and employers are still cutting their staffs.
First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. Analysts had expected a drop. That’s the highest total since February.
Initial claims have now risen in three of the last four weeks and are close to their high point for the year of 490,000, reached in late January. The four-week average, which smooths volatility, soared by 14,250 to 473,500, also the highest since late February.
Analysts said that the unexpected rise in claims suggests hiring in August won’t be much better than July. The economy added a net 12,000 jobs last month after excluding the loss of temporary census positions. That’s not nearly enough to reduce the unemployment rate, which is currently 9.5 percent.
The jobless claims report “represents a very adverse turn in the labor market, threatening income growth and consumer spending,” Pierre Ellis, an economist at Decision Economics, wrote in a note to clients.
The prospect of more layoffs added to this week’s grim outlook for the economy, which began Tuesday when the Federal Reserve lowered its assessment of the recovery.
Read more here.
Email this to a friend | Print |
Share on Facebook
| Tweet this
| 
Follow Us on Twitter
Subscribe via RSS
Got a Tip?
96 Comments
Worse.
and worser, and worst………
What incentive does business have to expend capital, for any reason, during these times of Governmental uncertainty in the midst of the worst Crisis of Confidence since Herbert Hoover?
Everything is relevant, and everything is perspective. We are not in a Recession, or in an Economic Slowdown due to those facts alone. We ARE in a Crisis of Confidence. This Crisis of Confidence thusly created the Economic Downturn and the Recession. That is the root cause., and will continue unabated until such time as Obama is shown the door.
Recovery Summer
I can hardly wait to see how badly they spin this. They are really getting dizzy!!!
Wonder why the job market is so bad? Could it be the "Tax and Spend Liberals" robbed The People's Treasury? Could it also be the Obama Admin's "power grabbing" of big chunks of America in their quest to Re-distribute our Economy and Freedoms into a Dictatorship?
Now it will be followed up with the "Bleeding heart Liberals" with their sob stories to tug at the strings of those who still believe that coniving, insulting approach.
Where Statism exists, free market forces are crippled. Government intervention causes the worst kind of uncertainty….the manufacturer doesn't know what to make, the farmer doesn't know what to plant, the investor must become extraordinarily risk-aversive. Statism is an absolute, documented, undeniable malediction, as evidenced by unemployment and GDP stats now, as well as by even a cursory study of the rise and fall of nations throughout history.
Liberals have not learned the lessons of the late 1930's. I'm starting to think that they don't have the capacity to learn *anything* of value.
Obama… the worstest President evah! Take that, Bush!
Looks like the only "Recovery Summer" taking place will be the GOP's soon-to-be majority.
Do you think Obama, Beiden and their merry fools have figured out it takes more than a catch phrase like "Recovery Summer" to actually make things happen? Typical liberals– all feelings and no actions to back them up. While the Obamas vacation and have a good time all over the place we the American people are screwed like stray dogs in Chinatown.
Picture caption,
Obama supporters line up for bonus package.
Looks like we're going to have to wait for that Recovery Summer until November
And they are cutting food stamps to bribe the teachers union? Oblabla and Co. are still in full campain mode almost 2 years after the election. Their latest slogan for recovery summer is "IT COULD BE WORSE" or "IF IT WAS STILL BUSH IT WOULD BE WORSE".
It's like they want rioting in the streets!
Just as obama planned. We must find a way to repay him for all the damage he is causing.
But but, with the new HIRE program employers are required to report EVERY job filled, even if it's seasonal, part-time help, even if the worker comes back to the job every year, even if they only work a few hours each week, as a new job CREATED. Why are the employment figures so dismal even when the "books are cooked"? Hmmmm…..back to the drawing board for BHO and his mystical band of merry men, to find new and improved tactics of deceiving the American public. I think I have to vomit now……………………….+Hanzo+
But the Telepromper-in-chief says "The Recession is over"
How can such an elegant and eloquent man be so wrong?
Never Fear! Cap and Trade will save the day!
Look how well they are doing with GM, how can they fail?
/sarc off
Somebody needs to explain to numbnutz ObaMao that his pinko commie crap is shockingly ANTI-BUSINESS!
But he would not listen…
Yup Cowboy, nothing will get better until he is gone. I hope we get a minor improvement in Nov when the worst in congress and senate are defeated, but until we get a REAL POTUS and not an empty suit full of marxist/progressive shiite… All bets are off.
This is only going to get worse too. The problem (besides high taxes, high regulation and other job destroying policies) is that the Democrats won't stop tinkering. That creates uncertainty. Who in their right mind would hire at a time when they don't know what the Democrats are going to do to them next?
Also, with it not being clear if the Bush tax cuts will expire, no one is going to hire anyone until they know what their tax situation will look like.
Combined with all the new taxes and the massive amounts of new regulations the Democrats have concocted, they've created a perfect storm of job destroying idiocy.
I saw on Morning Joe this morning that Wall Street is bailing on the Democrats. It was hilarious watching Scarborough, Mike Barnicle and Jim Cramer of CNBC trying to spin it with a happy face. They were shitting bricks.
Stimulus Package.
A box of condoms and a watermelon.
Batten down the hatches, it is going to get much worse, and I am afraid a long time before things turn around.
Damn the progressives.
LOL dont forget the union *member* need that viagra
Why all the hate, folks? Everyone knows that hiring is a trailing indicator. Timmy Geitner said so. What he didn't say was that it will continue to trail until Barry Hoover's sent packing and grown-ups start to clean up the mess these Marxist adolescents have created.
Attack of the 50 Foot Pelosi
http://vimeo.com/13373582
"It's like they want rioting in the streets!"
It's not "like" they want rioting in the streets. They're counting on it.
Welcome to Funemployment, America! This is The Summer of Recovery! Feel the Stimulus! Does it send a thrill down your leg as well? (sarcasm off)
Hey David, I know you don't think for a nanosecond that BHO is ANYTHING but anti-business, and shockingly at that. Damn the midterm elections, full speed ahead with the Progressive/Marxist/Fascist freedom-destroying, anti-capitalist and, dare we say, ANTI-AMERICAN agenda from Hell that the traitors in the current regime are following. There, I said it. I feel better now.
+Hanzo+
Yes they are counting on riots in the streets. Never let a good crisis go to waste. Once it starts they will executive order disarming the citizens and shut down the first amendment. Its all in the play book.
Its already started. Notice all the gadsden flags in this crowd. Sarc!
http://www.ajc.com/news/atlanta/30-00030-000-line...
The next "crisis" is starting to warm up. Multiplying debt. Choking job creators. Seizing industry. Massively expanding government. Tolerating enemies. Stiffing allies. The America-hater-in-chief continues his fundamental transformation of American society, based on invaluable wisdom gleaned from his years of community organizing, and tutoring from various marxist radicals. What could go wrong.
…and now they are talking about another BILLION for the Union Teachers and Union Government Employees …ban the Unions. These guys are beyond "out-of-control" …the only "stimulus" I see on the horizon is revolution.
Our recovery begins when we finally realize that government spending is not a stimulus. If it was a stimulus then it would reduce our economy's dependency upon government spending over the long run. This means the spending would create an increase in the demand schedule for capital investment and an increase in the demand schedule for labor while it actually served to reduce future spending and the size of government.
This hasn't happened and won't happen. Mr. Obama and his liberal-progressive allies are about to learn what happens in the Age of the Internet to politicians who con the American public. Unlike years gone by when the liberal media could protect these people by providing false information or failing to report the actual outcomes at the time (FDR, LBJ and Carter being prime examples), the emergence of the Internet means that the facts will in fact become known in the current window of reporting. This is why liberal media outlets have seen their viewership and subscription bases fall precipitously and now Americans are realizing these liberal politicians are not public servants at all – they are self-serving criminal cult members who have been playing us.
The only real issue before us is whether or not we are willing to allow this to continue or contrive those solutions that will end this forever.
Choose.
This is what you get when 93% of an administration have never held or created a private sector job. Witless eggheads, who don’t know it unless they read it in a book. We are in heap big trouble until these clowns are gone!
Hey Andrew! We’re all going to work for the government…don’t you know!
Silly wingnuts! Didn't you read Big Brother's latest pronouncement? The worst of the recession is over! Because the Callow Poseur in Chief said so! You know he'd NEVER lie to you… don't you?
…
DON'T YOU?
The Crisis of Confidence is not the root cause. It is the Fed's expansionary monetary policy.
And not enough fuel to cook em once they ram cap and trade thru.
If that's the case, then I want my vacation up front!
"U.S. Jobless Claims Unexpectedly Climb to Five-Month High"
What do the experts see that the rest of us don't that makes it be "unexpectedly"?
I don't get it.
Impeachment comes to mind
We the Taxpaying citizens of the US need a conservative to come forth and pound the sh!t out of this Marxist president with this one simple, 4 word question…
WHERE ARE THE JOBS?????
It is a very simple task to perform AND by using Alinsky rules, very effective.
Rule 13. Pick the target, freeze it, personalize it, and polarize it.
Seems more like that Bananarama song:
"It's a cruel … cruel … cruel summer"
You're putting way too much thought into this. It's obviously Bush's fault.
I was only surprised when Obama got elected. After that everything that has happened is like a poke in the eye with a sharp stick covered in salt.
I will take the bad news as it is, because the worst news is that we are stuck with a new king for life.
Jimmah must be getting antsy. Carter is remembered for being number 1 at one thing only, and Obama is dead set on taking it from him.
Just wait until the Bush tax cuts expire on Jan 1, 2011. Small businesses (if there are any left) will lay off more people and hang on to their money( if they have any of that left).
Rush has been predicting collapse for the middle of next year if they don't extent the tax cuts.
"Recovery Summer" has been officially postponed until 2011… 2013 if Obama refuses to pull a Clinton (or not end up impeached and imprisoned)
LOL! Great plan!
One of the stocks I've been trading took a huge hit yesterday and today a report issued showed they're expanding US layoffs and moving the business to Mexico where there's a far less fascistic govt and far less tax strangulation.
Americans continue to lose jobs because of democrat policies. Working Americans, democrats are only qualified to run methadone clinics and bath houses, never vote for a democrat to any position of power or influence.
On the bright side, the Mayans used to have a guy like Obama calling for "shared sacrifices" that was much more unpleasant.
Having said that, I am not familiar with Kenyan traditions and rituals regarding sacrifice.
.
Maybe you and I should get together on election night to help each other pass the time. Do you have our black panther outfits or do I?
How many days until the mid-terms? That's 891 more days of insomnia!
Speaking of Jimbo Cramer, I happened to catch Mad Money yesterday, WOW what an
amateurish acting job of BS he delivered.
Something along the line……..this is EXACTLY what is to be expected, I'm not one little bit surprised.
It was painful to watch.
.
Why should they expect things to get better? Zero's still president, dems still control congress.
Duuuhhhhh!!!
I feel better that you said it too Hanz,…….thank goodness you're back…….
.many of us are fresh out of indignation.
.
No joke mugi………way too much thought,…………..although I must say I admire those who can
still think at all after a year of outrageous outrage.
.
Not to worry, I heard salmonella bacterium has been discovered to KILL cancer cells.
Hell I was planning on eating my chicken raw from now on anyway.
.
So the Census bubble has burst? Why would anyone start a small business with this Regime wanting more and more from you?
And that guy should be the head of the Republican Party………………..chirp chirp…….crickets!
Where IS Steele?…….perhaps promoting his book in the Bahamas?
.
And you said it so well that I am saying it again!!!!!!!
I don't think for a nanosecond that BHO is ANYTHING but anti-business, and shockingly at that. Damn the midterm elections, full speed ahead with the Progressive/Marxist/Fascist freedom-destroying, anti-capitalist and, dare we say, ANTI-AMERICAN agenda from Hell that the traitors in the current regime are following. There, +Hanzo+ said it.
I feel better now too!!!! ;^)
This is a Robert Downey, Jr. recovery, this first 3 recoveries are just for show
The recession has still gotta be Bush's fault!
But, but, but Just yesterday, Baracky the Keyan said that the recession was mostly over and we've turned the corner. Who are we to believe….?
You can only kick the unemployed so many times before they start rebelling…like in November's payback.
Who was it that said to "flood the welfare system"?
Funny how they spin away with their heads in the sand and think the public does not see the truth. Of course the continued problems turning the econ around will somehow, yet again, be foisted wholly onto Bush.
I see stuff like this and smile … miss me yet? http://www.facebook.com/photo.php?pid=6894887&...
and yet….all the Obamites I know still tell me what a wonderful President he is…..so far reaching, so historical, sooooo cool.
It could be worse and it will be.
Wait for it……………..
,,,,,,,,Wait for it…………….
This is Bush's recession !!!
Now leave Hussein Obama alone !
/sarc
/spit
obama never wanted jobs to increase. It would reduce the number of people dependent on the government. Just what he and the trolls want. It gives them more control over their lives and he is failing. Thank God for the American people.
Imagine how bad it would be without the Recovery Summer. Why we might be at 100% unemployment. Obama has saved tens of millions more jobs!
/sarc
but it all sounded so fantastic in the classroom.
An Obungi stick.
Bush's fault!
Hey Andrew….nice to have you back!
Thanks. Glad to be back!
If Obama manages to get re-elected, I don't thing it'll be because he "fakes" a Clinton center move, because no one would believe that a socialist of his caliber would be sincere in doing that.
I think that he'd win by sheer voting blocks: -Unions, College kids, minorities, Welfare & unemployment recipients, some women, muslims, global warming people, people who mistakenly believe that Obama is the "gravy train" for them, anyone connected with Mexico, Progressives, and anyone with a thirst to dominate America through Re-distribution of Wealth & power.
I still have a BURNING QUESTION that no one has answered! Have the Voter Roles, across the nation been PURGED? If not, the deceased, and other ineligible voters remain on automatic!
This worries me all the time because the purging of the "motor voter rolls" has to BE REQUESTED! IN EACH DISTRICT. Who's going to request it in every district? especially the DEM STATES!? GOP members, Help!
It's an overlooked critical detail mugiwara and onecompone. I hate those votes going to Obama needlessly. That is my concern. Voter Fraud!
Yea man. Im blind in one eye and havin a hard time seeing out of the other, Using my common sense goggles to navigte thru this ocean of fools.
I'm not so much worried about the dead voter turnout. Dead Ted wasn't even able to rouse enough of his fellow deceased to keep his seat in Democrat hands, and the people weren't nearly as pissed at 0bama in January as they are now. I'm more concerned with the inevitable "crisis" that requires elections to be "postponed"…
"Have the Voter Roles, across the nation been PURGED? If not, the deceased and other ineligible voters remain on automatic! "
Neither party will push for this as it has the potential to hurt local and state elections; however, on the bright side with more states pushing to remove the Electoral College from presidential elections only San Francisco, New York City, Chicago and other well-known liberal bastions will be the voice of the people. (/sarc)
In all honesty there are so many things that must be done both before and after the 2010 / 2012 elections on all levels (local, state and federal) if we hope to peacefully take back control of our nation. As it stands even if a new congress gets elected will they push to curb their Cadillac benefits? Will they push to clamp down on voter fraud? Will they push back on lobbyist? Will they have the courage to end entitlement programs that are crippling our nation? Can or should we ever have trust/faith in a politician to uphold their word?
Unfortunately, I don't see much hope even after the elections because of the massive hold that special interest groups have on government that we'll never be free from their reigns. If you include those who have been raised under the guise that "they're owed" by the government, anchor babies for the past couple of decades and the recent aggressive push for amnesty of 20+ million illegals will elections even matter? Keep in mind that even if conservatives are successful at defeating this progressive push, progressivism will just go back underground diligently working and buying its time until it's safe for them to resurface with a new plan of domination.
In one respect, we should be grateful that the November elections are getting so close. Otherwise, I suspect we wouldn't be too far from rioting in the streets. At least we have a little Hope(tm) that we can survive until Thanksgiving.
I can't remember a time when average people were this angry about our government, and that includes the Summer of Love. And I mean really angry. People have just about had enough of this.
Unfortunately I agree with your assessment of the depth of corruption in our Government. I guess that Term Limits, and new blood are the best hope; and the Tea Party momentum!
Unfortnately I agree with your assessment of our bleak position. I guess that Term Limits and new Constitutionalists are our best hope going forward. Thank God for the TeaParty movement!
Scary thought. Bring on the TeaParty in full regalea!
'It's like they want rioting in the streets!"
We MUST keep the lid on it for 83 days. If large scale rioting takes place Obama will be very happy to cancel the elections and that will cause total collapse. We must reign in our emotions and use the POLLS to eradicate the PROGRESSIVE AGENDA.
But the defunding of his minions will commence with a new right wing Congress. I suggest an 80% budget reduction for the Whitehouse for openers.
The classroom they went to was in the Little RED Schoolhouse and they had SPECIAL BOOKS.
They have been swimming in the Kool-Aid vats again!
"People have just about had enough of this." And the TAXPAYERS sure as HELL have!
Obama's new campain slogan: "HOPIUM, IT DOES A BODY GOOD"
He will be marketing this as a sports drink, I believe…..
The MOOshelle version will be "Diet Hopium" so we never has beeg fat arses…
He needs to be replaced PRONTO!
LG, I love seeing Conservatives turning Alinsky's Rules back on the Libs. Normally, they can't handle that. They stumble and stammer, and usually fall apart. They just can't believe that we are using their methods…on THEM.
I don't understand why it took Conservatives so long to figure out that all these knuckleheads were just using a little bitty communist book all these years.
WHAT? Hanz is BACK???
About danged time!
Welcome home, stranger…
Barry-Bop is our number one man
He has such a great plan
To save the economy and jobs to create
And in spare time to spew constitutional hate
I hope his voters now realize he is an artiste du scam.
The sad thing about waiting for Obama to get our of office is that this country was specifically designed so that Americans would not have to live hanging on the words of the king. The president should be someone who comes on TV occasionally and gives a nice pep talk, and then keeps the fairly meager bureaucracy in check. Occasionally, he might need to open up a can of whoop-ass on the poor schlubs who cross us, that is about the extent of it. Instead, we have a bunch of megalomanical low-lifes micro-managing our existence. We are hitting the breaking point of the test of Americans' patience. The Democrats better hope they are kicked out of office. There will be a comeuppance fools.
You summed it up nicely in just two sentences. While I agree with you that the current unemployment rate cloud does have a silver lining, watching friends, family and neighbors who are in that group is rough and bound to get rougher before things really rebound, which really won't happen big time before the 2012 election. My friends across the street are barely hanging on. The neighbor next door has had to take in her daughter and grandkids. My son, a recent vet, just finished his Masters Program and is looking everywhere and anywhere for work. He buys some groceries and has done a massive amount of work on my home. Being Alaskan, he is very good at a lot of things. As for me, I am lucky in many respects. Though I am unemployed, I am also retired from a former job, so I am getting by……just. I need a new(er)car. In order to get one I am sending or hand carrying my resume to every new and used dealer in the area for full or part time office work. With a offer to work for minimum wage or less if a new(er) car can be part of the deal after 6 month to 1 year. Gotta think outside the box. While times are not as bad as they were in my mothers time, they are bad enough. So in the meantime, people should give to food banks, charities, and help in any way that they can. About the only really good thing I can see from all of this is that people have learned a valuable lesson from the past few years that will stay with them all the rest of their lives. And like the song says "We Won't be fooled again."
The clown, Chris Matthews, is never going to live that "thrill down the leg" comment down. I hope and expect it to be engraved on his headstone one day in the distant future. LOL
I've got an idea!
http://chicagohopeandchange.com/CHContent/CHComic...
Hey there Tex, good to be back, and to be a thorn in the collective side of trolls everywhere! +Hanzo+
Let's start releasing some of that pent-up indignation, 1CP. I've got enough for eveyone!
+Hanzo+
You must be logged in to post a comment.