Jobless claims rise by largest amount in 3 months
"Applications for unemployment benefits rose to 471,000 last week, up by 25,000 from the previous week, the Labor Department said Thursday. It was the first increase in five weeks and the biggest jump since a gain of 40,000 in February."
Each week the Media spoon feeds us their Economic Growth Propoganda. Times are bad and that isn't going to change any time soon. Jobs still going away. Yesterday there was another AP Story on how foreclosures are rising again. No Job = can't make the house payments. This is a viscous downward cycle.
I think most of us have realized that this jobs/economy problem isn't going to end any time soon. But the spending has got to end. Borrowing and spending is just making everything worse.
I won't blame Obama for a lack of jobs... because clearly he can not create jobs. Government jobs are a drain on society and just hurt the economy.
There is really nothing Obama can do to make it better but get out of the way... let businesses that should fail... fail, and stop the spending.
Leave it to the wingnuts to desparately try to find (or create) a cloud to put around a silver lining.
Here's the facts.
There was a gain of 290,000 jobs.
That's up from a revised 230,000 jobs in March.
That's the best monthly gain since March 2006.
After 2 years of job losses, the economy has gained jobs in 5 of the last 6 months.
There have been job gains this year of 573,000 jobs.
This number is inflated by 66,000 temp jobs working on the census. Aven if you take those jobs out, it's a half-million jobs gained so far this year.
Those are the facts. Here's my opinion. The wingnuts are going to do EVERYTHING they can between now and November to deceive, conceal, distort and confuse the jobs picture. I'd be happy if they gave credit where it's due and then made conservative suggestions how to improve the real situation for the millions out of work. But it's not happening that way, and that should tell you something about who to trust.
I am not siding with anyone on this issue as I have not done the research to verify either claim but I am wondering if every thing is as great as the left would have us believe where is the evidence. Where in what state or city or town is unemployment and lost jobs not taking a toll on American citizens.
If things are so great why are the welfare lines getting longer every day?
Never mind the people in line. Concentrate on the numbers, 60% of the lines only account for 47% of the out of work population. In 2009 34% of all welfare recipients used 85% of full welfare benefits, and 10% of the population create 90% of the problems. Everything is fine, go to the mall and buy stuff.
Do not think that will be happening any time soon. My wallet was the first hit and will be the last to recover from our wonderful economy.
I don't understand?? The economy and job numbers say you should be doing just fine. Oh, I know, you must have a lot invested in the stock market. I'm with you Ohma. I don't care what anyone says. I can physically see the frustration about the economy from people first hand.
jobs are always last to recover from a recession. the job market will open slowly as it is. too much concentration on numbers does nothing, it's a numbers game. there are jobs out there.
If more people took the initiative to branch out on their own in some way, shape or form, then the job problem would not be a problem. However, some people are simply stuck in the rut they are in, because they do not know any better.
Investment is returning to the USA. The Australian Dollar has dropped dramatically in the last week with the flight of money back to the USA.
Australia has the strongest economy in the developed world, and so the drop in value of the AU dollar is a sure sign that America is on the mend.
The fall of the euro has other causes, but also indicates that money is flowing back to the USA as well.
Jobs are the last to move up in a rebounding economy so the current jobs created in the US is a sign that the economy is on the mend.
It always amazes me that there are people who blindly follow the leader just because he is the leader. reminds me of a herd of lemmings.
Florida reached 10%. Here is a link of daily job losses. Your job may be next.
Florida could be considered a special case because of the recent oil spill. No one knows what the total cost to communities will be. If jobs are down and people are nervous about their future employment no one can blame them. It is a sad business. I have been to Florida. I liked it there. I wish all the affected communities well and hope they won't be too badly hurt.
Me too. Florida is a special case. I see Halliburton was involved in the spill. I wonder if they watered down their job like they did in Iraq?
Nothing they did there seems to work. All the infrastructure built by them in Iraq appears to be sub standard, so I would expect their morals haven't changed overnight.
I am afraid you could be right there Earnest.
Admin will most likely get to the bottom of it. Someone screwed up badly, and track record provides a good starting point when looking to see who it was. It was amusing to watch BP Halliburton and the other party (can't remember who) playing a school-yard game of passing the buck!
Lol Yeah, because the oil spill obviously only affected jobs in Florida and no where else. zzzzzzzzzzzzZZZZZZZZZZZzzzzz
I don't think anyone was making that statement ediggity. Of course other parts of the USA would also be affected by the oil spill. Sea food restaurants who get their fish and oysters from Florida would be affected. The overall economy would take a hit because everything is linked in some way or another. It will be years before the total damage to businesses is realized if at all.
Here's what Nobel Prize economist Paul Krugman had to say about unemployment and the national deficit today--
http://www.nytimes.com/2010/05/21/opini … ef=opinion
And for deficit hawks here's are area that could stand some cutting--state and local public pensions--
http://www.nytimes.com/2010/05/21/busin … on.html?hp
In Yonkers, more than 100 retired police officers and firefighters are collecting pensions greater than their pay when they were working. One of the youngest, Hugo Tassone, retired at 44 with a base pay of about $74,000 a year. His pension is now $101,333 a year.
Enlarge This Image
Chris Maynard for The New York Times
Edward A. Stolzenberg collects $222,143 a year, one of the biggest New York State pensions.
How can states get beyond the outrage and fix their public pensions?
WORKING OVERTIME Yonkers has arranged for its police officers to put in overtime as flagmen on Consolidated Edison construction sites. Though a company is paying the bill, Yonkers is reporting the work as city overtime to the New York State pension fund, thereby increasing future payouts.
It’s what the system promised, said Mr. Tassone, now 47, adding that he did nothing wrong by adding lots of overtime to his base pay shortly before retiring. “I don’t understand how the working guy that held up their end of the bargain became the problem,” he said.
Despite a pension investigation by the New York attorney general, an audit concluding that some police officers in the city broke overtime rules to increase their payouts and the mayor’s statements that future pensions should be based on regular pay, not overtime, these practices persist in Yonkers.
The city has even arranged for its police to put in overtime as flagmen on Consolidated Edison construction sites. Though a company is paying the bill, the city is actually reporting the work as city overtime to the New York State pension fund, padding future payouts — an arrangement at odds with the spirit of public employment, if not the law.
The Yonkers experience shows how errors, misunderstandings and wishful thinking are piling hidden new costs onto New York’s public pension system every year, worsening the state’s current fiscal crisis. And the problem is not just in New York. Public pension costs are ballooning everywhere, throwing budgets out of whack and raising the question of whether venerable state pension systems are viable.
In fact, the cost of public pensions has been systemically underestimated nationwide for more than two decades, say some analysts. By these estimates, state and local officials have promised $5 trillion worth of benefits while thinking they were committing taxpayers to roughly half that amount.
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