Unemployment %, come to your own conclusion

Discussion in 'Economics' started by EMRGLOBAL, Oct 2, 2009.

  1. U.S. Unemployment reported October 2, 2009

    Todays method 9.8%

    Using the method of the 1980's calculations..the real umemployment numbers as we stand 21.4%

    Hummm...OBAMANATION .....State healthcare, Union Control and Cap and Trade to run oil prices and energy prices higher.

    The market will continue to rally .....it wouldn't surprise me.
  2. RE: The "Mkts",
    I'm starting to think if we nuked Iran, they'd shoot to the moon.
    The financial world is a strange place.
  3. clacy


    Obama Nation = ABOMINATION
  4. EMRGLOBAL, take a look:

    <img src="http://i33.tinypic.com/295fp6s.jpg" /img>

    The red line is the start of the Obamanation.
    Notice the sharp fall in the rate of job loss immediately after. The new president didn't even have time to do anything yet, and yet the rate of job loss fell very sharply anyway.
    Why? A collective sigh of relief at getting rid of Bush, maybe?

    Below, the comparable chart for this time during Reagan's term:

    <img src="http://i37.tinypic.com/2aj3km8.jpg" /img>

    Note that job losses were increasing. Job losses would continue to do so until December, 1982.
    I await your condemnation of Reagan's policies. Somehow, I think I'll be waiting a long time.

    (Click on either picture to get to the source from which the charts were derived.)
  5. maxpi


    Wow, 21.4% and no relief in sight... bad scene for workers... I saw this thing coming, I really did, I was a worker at the time, I just quit and went to trading... if somebody wants the US all messed up and the middle class gone and they have the power to do it, well, it will get done... why be in the middle class then?
  6. clacy



    It's not that the unemployment rate today is entirely Obama's fault, althoug he was a member of congress leading up to the debacle, insisting on mortgage financing for "those that cannot afford to actually pay the mortgage", and overspending in general.

    With that said, it's what he wants to do going forward that so many have a problem with. Higher taxes for the rich, an energy tax for businesses and all cosumers in the US, universal healthcare for 47 million.

    To me, that adds up to a net negative for businesses, and anyone that works and/or consumes.
  7. We'll see. Lots of proposals, outside of the stimulus not a lot has passed yet.
    My point is a simple one: if you were to be fair, you'd wait to see what happens to the economy. Ever since Reagan, my rule has been to only praise or blame the Prez for what happens from two years on into his term, because prior to that he's dealing with what he inherited.
    No one blames Reagan for those first two years, at least no one that I've ever met. What has surprised me so far is how quickly the opposition wants to jump on Obama for the economy.
    Opposing his plans is one thing. Saying that where we are now is his fault is just silly.
  8. drcha


    Thanks for reminding us all of this. The gridlock that has beset the federal govt. for most of the last 15 years is the best thing that has ever happened to this country. The less those fools on the hill do, the better.

    Of course, now the Fed has taken over and is running the joint....why are we even voting?
  9. Here is one thing that is directly tied to Obama, Kennedy, the unions and the Democrats.
    Yesterday's September labor market report was lousy by any measure, with 263,000 lost jobs and the jobless rate climbing to 9.8%. But for one group of Americans it was especially awful: the least skilled, especially young workers. Washington will deny the reality, and the media won't make the connection, but one reason for these job losses is the rising minimum wage.

    Earlier this year, economist David Neumark of the University of California, Irvine, wrote on these pages that the 70-cent-an-hour increase in the minimum wage would cost some 300,000 jobs. Sure enough, the mandated increase to $7.25 took effect in July, and right on cue the August and September jobless numbers confirm the rapid disappearance of jobs for teenagers.

    .The September teen unemployment rate hit 25.9%, the highest rate since World War II and up from 23.8% in July. Some 330,000 teen jobs have vanished in two months. Hardest hit of all: black male teens, whose unemployment rate shot up to a catastrophic 50.4%. It was merely a terrible 39.2% in July.

    The biggest explanation is of course the bad economy. But it's precisely when the economy is down and businesses are slashing costs that raising the minimum wage is so destructive to job creation. Congress began raising the minimum wage from $5.15 an hour in July 2007, and there are now 691,000 fewer teens working.

    State lawmakers are also at fault. At least 10 states have raised their minimum wages above the federal level in the last decade, largely in response to union lobbying and in the name of helping the working poor. Four states with among the highest wage rates are California, Massachusetts, Michigan and New York. Studies have shown in each case that their wage policies killed jobs for teens. The Massachusetts teen employment rate sank by one-third when the minimum wage rose by 88% between 1995 and 2008.
    #10     Oct 3, 2009