More Good News… Unemployment Expected to Surge Above 10% Again
Posted by Jim Hoft on Thursday, May 13, 2010, 12:12 PM
Thanks Barack.
The US unemployment rate has nearly doubled under the Obama-Pelosi regime compared to the Bush or Clinton years. It is expected to surge above 10% again in the next few months.
The Hill reported:
Unemployment is likely to surge above 10 percent during the next few months as millions of “missing” workers return to the labor market.
This will pose a huge challenge for the Obama administration and congressional Democrats, who want to run in 2010 on the back of a strengthening economy.
Economist Mark Zandi expects the unemployment rate to float above 10 percent during the next few months as workers look to take advantage of improving opportunities.
“The increase in unemployment is a sign of a stronger job market, but it is also a sign of how weak the job market still is and vulnerable the recovery is to anything that might go wrong,” Zandi wrote in an e-mail to The Hill.
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Published May 24, 2012 at 8:46 pm - 87 Comments
bitterclinger commented:
Remember to remind the state-run media about the unemployed high-school and college kids that’ll be sitting around the house starting next month too. Don’t know how or if they work their way into the stats.
Just_Saying commented:
So, what’s the deal on all the jobs the TARP/stimulus funds were supposed to generate? Were those government jobs, only by Obummer-appointment??
.
sdfsdfs commented:
Obama is a failure.
Palinfan commented:
You guys just don’t understand! Rising unemployment means that recovery is right around the corner!
So does rising deficits, falling dollar, rising trade deficits, rising bank failures, rising home foreclosures, rising…
Gini commented:
“The increase in unemployment is a sign of a stronger job market, but it is also a sign of how weak the job market still is and vulnerable the recovery is to anything that might go wrong,” Zandi wrote in an e-mail to The Hill.
I must be extremely dense as I fail to understand how the job market can be both “stronger” and “weak”. One or the other, but it cannot be both.
rumcrook commented:
awesome! becuase I was really worried it would go down.
pheww what a relief./////
shibumi commented:
“I must be extremely dense as I fail to understand how the job market can be both “stronger” and “weak”. One or the other, but it cannot be both.”
It is called “newspeak” and is fully explained in George Orwell’s 1984.
/disagreeing with the media is double plus ungood!
The Caffeine Talking commented:
Worst president ever. Move over Carter. There’s a new failure in town.
flyoverland commented:
but, this is good news. right Barack? If not, its got to be Bush’s fault.
Chippy commented:
“Happy Days Are Here Again”. The Obama Administration loves turning negatives into positives using their liar czars in the MSM. Everything they do sucks.
Don Rodrigo commented:
I must be extremely dense as I fail to understand how the job market can be both “stronger” and “weak”. One or the other, but it cannot be both.
Ginni. Reread 1984, and it’ll all start to make sense. Sort of.
Militant Conservative commented:
Right now he is hitting us where it hurts. (Employment/monies). November the public is going to hit you where it hurts. Your power base will be removed. You’ll command a military that loathes you and have executive order ability. Watch out there could be recalls of other senators/congressmen. RUN fast you have till November and your a lame duck .
powder is dry.
Sandy commented:
No wonder Michelle Obama is going to campaign for the Dems by telling us Hard Times Are Coming. This is sure to put the Dems over the top — LIKE RIGHT!
Don Rodrigo commented:
Remember folks, before our “betters” could worry about trivialities like creating economic conditions that lead to dynamic job growth, they had to “strengthen our economy” by destroying our healthcare system, setting up a giant corruption scheme called “Cap & Trade,” and opening our borders up even more (as if that were possible). Never, ever disturb geniuses while they’re at work, and please give them even more of your money.
Elly commented:
Well, clearly he’s not trying hard enough. I mean we all expected it would be at least 17% – oh wait…
He excels at sucking.
November November November
d_fitz commented:
It’s all part of a strategy to create more government dependents.
BigAlSouth commented:
College graduates are not counted as they are not eligible for funemployment benefits.
Don’t forget, there is half a million census workers counted as employed, for the moment.
How will the U.S. economy do until 2012? I don’t know, it’s all Greek to me.
squeaky commented:
“the job market can be both “stronger” and “weak”. One or the other, but it cannot be both..” private sector not so swell but the public sector…..with zero-man ginning up the hiring for government jobs. didn’t they anticipate 150 plus new agencies, etc to bounce off obamacare. there will be a big need for security officers in the future……..
[Millions of jobs that were cut won't likely return
Where did the jobs go? Higher productivity
allows employers to get by with fewer workers]
http://finance.yahoo.com/news/Millions-of-jobs-that-were-apf-1022893308.html?x=0
Mary commented:
Stronger is relative. A very weak person may grow stronger without ceasing to be weak.
Zajibullah Nazi commented:
I brame Bush!
Scott commented:
But but but…We need to pass the 787 billion dollar stimulus plan to keep unemployment from rising above 8%…We have saved or created 3.5 million jobs…Classic leadership failure on the part of Obama. When you over-promise and under-deliver you lose credibility. Of course, if he had actually done something in life other than rabble-rouse welfare recipients in the backstreets of Chicago, he would know that…
Rich commented:
Wow, good thing the unemployment rate didn’t fall or superficial good news would really have been masking bad news.
Dodged that bullet just in time. (sarc off)
Robert Arthur commented:
@BigAlSouth: the unemployment rate is based on the household survey, and is not dependent on unemployment benefit status. It is simply the proportion of unemployed in the total (full time and part time) civilian labor force, determined by interviewing a sample of the US population.
Mr. President commented:
Move on. Nothing to see here……
Scott commented:
Gee, if we had an energy plan other than quixotic dreams of windmills and solar panels we could create, tens of thousands of high paying jobs…Energy is the world’s most important commodity…But alas, Obama-mao and the democrats don’t get it…We should have a Marshall plan to make this nation energy self sufficient…Instead, we dither while China, Russia, Brazil, and of course the middle east become the world’s energy oligarchy…
Chris commented:
““The increase in unemployment is a sign of a stronger job market, but it is also a sign of how weak the job market still is and vulnerable the recovery is to anything that might go wrong,” Zandi wrote in an e-mail to The Hill.”
Gosh, you’re right, Zandi–I’m sure it doesn’t have ANYHTING to do with the fact that over 45% of the unemployed have been out of work for 27 weeks or longer, and their benefits have started to expire.
Things are getting better every day!
/sarc
Estragon commented:
It is true that unemployment will continue to rise in the early stages of a recovery as people who had given up their search return to the market. This also happened in the Reagan recovery in the early ’80s.
However, the more recent trend has been for job recovery to lag severely because employers have coped with economic problems by increasing productivity, so fewer workers are required to produce an similar or even greater amount of goods or services.
The real problem for the USA, though, is the impending debt bombs – here and around the world. Our “stimulus” and “bailouts” and “reforms” have sow the seeds of future destruction of the capital markets.
“Double dip” – with a bullet.