Put this on an Olympic scorecard: 9.8
President Obama was unavailable for comment:
The American economy lost 263,000 jobs in September — far more than expected — and the unemployment rate rose to 9.8 percent, the government reported on Friday, dimming prospects of any meaningful job growth by the end of the year.
The Labor Department’s monthly snapshot of unemployment dashed hopes that the pace of job losses would continue to slow as the economy clawed its way back from a deep recession. Economists had expected 175,000 monthly job losses.
“People have been celebrating that we’re through the financial crisis, but the underlying issues are all still there,” said Dean Baker, co-director of the Center for Economic and Policy Research. “We’ve lost trillions of dollars in housing wealth, and consumption’s going to be weak. It’s not the ’30s, but there’s really nothing to boost the economy.”
Despite help Washington’s $787 billion stimulus, state and local governments slashed 47,000 jobs in September in the face of shrinking budgets. And auto dealerships, which added jobs in August as business picked up because of the “cash for clunkers” rebate program, cut 7,100 positions last month.
Source: NYT
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Categories: fiscal stimulus
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Yeah, but just imagine what it would have been if Dear Leader wasn’t fixing all of Boooooooooosh’s mistakes? Probably at least 30%.
/sarc off
Then lagging indicator is 40 unemployed Democrat representatives next year.
Hope for Change.
The Russian judges give the US dive a 9.8!
It would have been 10.0, but the Labor Department had to take off 0.2 points for the botched landing of Barry and Michelle in Copenhagen.
Just imagine how bad it would have been if I hadn’t personally saved 343,000 jobs last month.
What a shame all the czars haven’t lost their jobs.
I struggle to recall the last time I heard any sound bite by Team Obama that blamed Bush for this mess. Could that indicate that they know that duck won’t fly anymore? No matter. They know that they’ll do their part to move the nation toward tyranny before the Republicans regain the helm in 2010. Yet, the Republicans won’t do anything substantial to undo the damage. Their function is to serve as stewards of big government until the time is once again ripe for “hope and change” – another leftward turn of the ratchet. The Republicans are the pan and the Democrats are the fire. Since the early 1900s, the American people have been doing nothing but hopping back and forth.
Without jobs I guess they did have a lot of time to celebrate. Dean Baker, co-director of the Center for Economic and Policy Research is over paid to say the least. The unemployment rate needs to go up by at least one.
40 unemployed Democrat representatives next year does sound promising-a start at least plus more than a few RINOs.
Unemployment at 9.8%, government jobs up 30,000.
When looking at the laid off who are working part time, or the peoplke who have dropped off the rolls due to benefits ending isn’t the truer unemployment rate closer to 17%?
Just goes to show that when you define the rating, this administration will do everything in its power to spin it in their favor.
And that figure doesn’t count those whose unemployment benefits have run out or who are underemployed, either working part-time jobs or jobs that don’t pay anywhere near what they were previously making.
I saw a tee-shirt that said it all:
Recession is when your neighbor looses his job.
Depression is when you loose your job.
Recovery is when Obama looses his job.
If anything, Team Obama is working vigorously to destroy jobs. New and higher taxes for the massive debt, cap & trade, and obamacare will force companies to layoff more workers. Consumers, in turn, won’t have discretionary income to spend, if they can afford essentials like housing, energy and food. New environmental laws will put manufacturers out of business and leave us unable to be energy independent.
Obama isn’t fighting unemployment because he wants us poor, on our knees, depending on the government for everything that we used to do for ourselves. It’s called building the base that elected him.
Does that number include the 45,000 that will die without insurance this year?
Apparently nobody listened to Joe Biden, when he said the stimulus package was working. I wonder if we call him a liar, will we be called racist. The sad thing is that those corruptacrats in Washington DC are still stuffing their own pockets.
cicerokid: That figure was proactively removed from the total. As was the remainder of the “American Holocaust” victims from Florida.
Double digits are here, but the obamanation administration refuses to admit it.
I’ve had to resort to submitting “jokes” to supliment my unemployment. Now, if I can just figure out how to do this an additional three times a day, five days a week, I’d feel a better about this – recovering – economy.
Yup, Kingfish, even the Uber-Obamanists at the Kos Kids Playhouse can’t avoid that fact. One “diary” title:
“Job Losses Far More than Expected. U6 Hits 17%”
(I’d add: Unexpected to whom?)
Good Morning PurplePeep:
No obligatory Amos and Andy Jokes?
I agree with this.
However, this doesn’t mean that the economy (GDP) will continue to contract.
In fact, GDP can show modest growth while unemployment continues to rise – YES, this is true.
If the next GDP report indicates the economy grew modestly, then technically the recession is OVER.
(Do NOT misunderstand this! This wouldn’t mean that the economy is good. This wouldn’t mean that the economy is recovering. This wouldn’t mean that unemployment is ok. This would simply mean that the economy is no longer contracting.)
Since the definition of recession is so grossly misunderstood, it’s possible that this news will be improperly reported by the MSM (they are always looking for a way to help Obama) and improperly understood by consumers and businesses.
Such misunderstandings could initiate new spending and investment. Such new spending and investment would boost the economy in a more significant way.
Such a boost would provide positive feedback for even more growth.
Now, factors which could curtail this possibility are Obama’s efforts (Cap&Trade, Healthcare, Tax increases), but if these efforts fail, then it’s quite possible the economy could grow significantly prior to the 2010 elections (there’s still plenty of time). If this happens, then the democrats are going to take all the credit.
Consider this fair warning.
purplepeep, wash your hands when you visit the Kos Kids playhouse and get your swine flu shot!
What will these numbers look like when the Saturn dealerships shut down? I know Barry will tell them that they sacrificed for future generations.
G’morn, Kingfish. Sorry for the lack of an A&A quote, it’s early. But I’ll understand if “you’se regusted.”
On October 2nd, 2009 at 10:57 am, Buy Danish said:
If Barry holds true to form, It will be that HE not they sacrificed…
Actually got the shot during the 1976 panic and I had a horrific something around Spring this year. My doc said it might’ve been an early H1N1 in it’s first wave. Didn’t go in or take anything for whatever it was, just really coughed myself crazy for a week-10 days until I got better. Other than my twice-a-year high BP check, I avoid doctors. At any rate, I figure I got the pigflu covered.
As for the Kos kidz site, 7th son, au contraire – it’s healthy. Haven’t you heard – laughter really is the best medicine!
corona: Right, they didn’t “Stick the landing,” but they will definitely “Stick us, the taxpayers!”
Did you see the Drudge link to the Missouri billboard? Priceless.
http://www.kctv5.com/news/21176602/detail.html
I think the narrative is shifting so that Bush is out of the picture and we will be told that what we are seeing now is the long awaited completely discrediting of the capitalist system and only full and complete socialism can save us. FDR was able to milk the “Hoover/GOP” did it line for six years before there was a backlash, but Hoover did his bungling for a good three years before FDR took over. Bush’s visible bungling was for a far shorter period and milking it until 2010 is not going to work. Nevertheless, this is not necessarily bad news for the Big O. By changing the “narrative,” which he must and wants to do, he feeds his base and keeps the right off-balance. Much as I like to envision a rout of the democrats in 2010, the “Capitalism is gonna get yo momma, only Socialism can save us” line might well fly.
http://www.shadowstats.com
In The Clinton Years, they decided to change what constitutes unemployed.
We have been living under fraudulent data ever since then.
The real unemployment rate is around 20%.
another site: http://www.clms.neu.edu/
Chicago, epic fail.
Love it.
I live in a big Dem county in Missouri-not KC- and I’m starting to see and hear the negatives about The Won.
Now if this can translate to votes in 2010 I’ll start thinking we are making progress.
I’ll go out on a limb and predict “JOB INCREASES MEANS OBAMA PLAN WORKING!” headline in mid November as retail stores hire seasonal help. And then fire them all right after the new year.
Libs are so predictable.
Stimulus…. they mean national paving projects. Anyone notice the number of paving jobs underway? You’d think the people responsible for spending that money would have thought of a way to create longer lasting jobs with it. Not one time projects.
What a waste.
I think you are right, bt. Demagogues availing themselves of bad economic times (never let a good crises go to waste) will push the nation to Socialism, or worse. For decades, the two principal parties have been used (a la pressure from above and below) to prepare the American citizen for a post-Constitution oligarchy. The ultimate goal is a one world government. At some point, the power behind the Republicans and Democrats will see or manufacture their chance and go for it. You correctly assessed the “value” of a big Republican win in 2010. On the surface it looks great, but this is illusory. It is designed to lull us back to sleep so that the Republicans can quietly expand government’s role in our everyday lives. Even the most conservative Republican accepts how grotesquely bloated the Federal government has become. There are probably exceptions to this and some are worse than others, but definitely the Republican party is not the answer to our problems. The question is what are we going to do about this? How can we best direct our efforts to turn it around? Prayer to God for direction is the first thing we must do!
Actually they’re using him to justify their nonsense – most recently they’re claiming it’s ok for Obama to have several dozen czars because Bush did it too.
On the flight back from copenhage, after barry was informed of the loss of the chicagobased olympics, combined with the unemployment rate, and the senators that refused to read the healthcare bill, barry hussein was heard to have said, “WHY GOD WHY!? WHY YOU WANNA BUILD ME UP JUST TO TEAR ME DOWN?! I WANNA DIE!! I WANNA DIE!!!”
I hear he watches southpark….
Hard for me to blame Obama for this. This all started years and years ago.
NAFTA in action – thanks, bipartisianship.
The Constitution allows for tariffs for a flipping reason.
Where’s your evidence that free trade caused the collapse? Would you also blame job losses on labor-saving machinery? Economically, they have the exact same effect.
Who are these bunch of mediocre EXPERTS?
They always find the results UNEXPECTEDLY higher or lower; never on the mark!
Fire them all!
First the manufacturing compaines move overseas to take advantage of cheap labor. The U.S.A becomes a service oriented market. Then they move all the service oriented jobs overseas to take advantage of cheap labor. The foreign economies expand with thier production of consumer items while ours shrinks. The U.S. education system grinds to a halt as there are no jobs for well educated people, all the doctors, engineers and management personnel are imported. Then we have a massive market crash. The world suffers becuause we, the American consumer can no longer consume and all those foreign enterprises begin to fail. We only have ourselves to blame, by not controlling the 545 people who work for us.
Mach1Duck: I agree with your insightful post. We must rid ourselves of these congressional parasites. I’m now so disgusted that I’ll vote for just about anyone who isn’t an incumbent. I’m so SICK.OF.THEM.ALL.