Obama's 9.5% jobloss claim is BOGUS and The Economy Is Even Worse Than You Think - New England Patriots Forums - PatsFans.com Patriots Fan Messageboard
ARE YOU NEW HERE? NOT LOGGED IN? PLEASE TAKE A MOMENT TO REGISTER FOR AN ACCOUNT AND LOGIN TO REMOVE THIS WINDOW
Welcome to PatsFans.com. Do you have an account? If not - please take a moment to register for our forum and experience a much smoother experience with fewer ads, along with no longer having to see this notification window. Also learn about how you can receive a free Patriots T-Shirt from the Patriots Official ProShop by CLICKING HERE. Please enjoy your stay here, and Go Pats!
The Bureau of Labor Statistics preliminary estimate for job losses for June is 467,000, which means 7.2 million people have lost their jobs since the start of the recession. The cumulative job losses over the last six months have been greater than for any other half year period since World War II, including the military demobilization after the war. The job losses are also now equal to the net job gains over the previous nine years, making this the only recession since the Great Depression to wipe out all job growth from the previous expansion.
Here are 10 reasons we are in even more trouble than the 9.5%unemployment rate indicates:
June's total assumed 185,000 people at work who probably were not. The government could not identify them; it made an assumption about trends.
- More companies are asking employees to take unpaid leave. These people don't count on the unemployment roll.
- No fewer than 1.4 million people wanted or were available for work in the last 12 months but were not counted. Why? Because they hadn't searched for work in the four weeks preceding the survey.
- The number of workers taking part-time jobs due to the slack economy, a kind of stealth underemployment, has doubled in this recession to about nine million, or 5.8% of the work force. Add those whose hours have been cut to those who cannot find a full-time job and the total unemployed rises to 16.5%, putting the number of involuntarily idle in the range of 25 million.
- The average work week for rank-and-file employees in the private sector, roughly 80% of the work force, slipped to 33 hours.
- The average length of official unemployment increased to 24.5 weeks, the longest since government began tracking this data in 1948. The number of long-term unemployed (i.e., for 27 weeks or more) has now jumped to 4.4 million, an all-time high.
- The average worker saw no wage gains in June, with average compensation running flat at $18.53 an hour.
- The goods producing sector is losing the most jobs -- 223,000 in the last report alone.
- The prospects for job creation are equally distressing. The likelihood is that when economic activity picks up, employers will first choose to increase hours for existing workers and bring part-time workers back to full time. Many unemployed workers looking for jobs once the recovery begins will discover that jobs as good as the ones they lost are almost impossible to find because many layoffs have been permanent.
How could this happen when Washington has thrown trillions of dollars into the pot, including the famous $787 billion in stimulus spending that was supposed to yield $1.50 in growth for every dollar spent?
For a start, too much of the money went to transfer payments such as Medicaid, jobless benefits and the like that do nothing for jobs and growth. The spending that creates new jobs is new spending, particularly on infrastructure. It amounts to less than 10% of the stimulus package today.
Another $150 billion, which was allocated to state coffers to continue programs like Medicaid, did not add new jobs; hundreds of billions were set aside for tax cuts and for new benefits for the poor and the unemployed, and they did not add new jobs. Now state budgets are drowning in red ink as jobless claims and Medicaid bills climb.
You understand why Obama's 9.5% jobloss claim is BOGUS. We are not getting better.
Last edited by NEPatriot; 07-14-2009 at 01:10 PM..
DONATE TO PATSFANS.COM
RECEIVE A FREE PATS T-SHIRT AND SAVE 15% OFF WHEN YOU BUY FROM THE OFFICIAL PROSHOP!
Free T-Shirt & Save 15% Off!
Like Our Site? Please help support our site and server costs by DONATING TO PATSFANS.COM and receive a FREE PATRIOTS T-SHIRT and SAVE 15% off EVERY purchase you make from PatriotsProShop.com. You'll also receive added benefits to your account including Removing All Ads During Your Experience Here At Our Forum.
NEEDED YEARLY SITE DONATIONS: 345 | CURRENT # OF SUBSCRIBED SUPPORTERS: 98
That's because Obama is doing several important things wrong: he's increasing union power, vastly increasing government budgets, and increasing taxes.
He'll prove once again that a government can't spend its way out of a recession.
Economics. Never a liberal's strong suit. They're into empathy for approved "suffering situations," forcing people into small, unsafe cars, not accepting rational energy policies, avoiding paying taxes, and being disingenuous about supporting affirmative racism.
This has been discussed for years in this forum. It started a long time ago, I think with Nixon, altering the way government gathers and reports statistics. The Bush administration used the same methodology that the Obama administration uses.
At any rate, with 16% unemployment and 37 million people living below the poverty line, it shows what an utter disaster almost 25 years of Reaganism was. Thank God Obama is taking steps to erase that ugly legacy.
The first thing you DO when you come to this forum is TO COUNT NEPATRIOT'S threads???????
Your future is bright................
lol your a joke man, get over yourself and your opinion
I just don't like coming here and seeing 50000's post by one person, chill with it we understand you don't like Obama that's ok whats not ok is you posting every god damn thing you read, we get it dude........chill
At any rate, with 16% unemployment and 37 million people living below the poverty line, it shows what an utter disaster almost 25 years of Reaganism was. Thank God Obama is taking steps to erase that ugly legacy.
lol your a joke man, get over yourself and your opinion
I just don't like coming here and seeing 50000's post by one person, chill with it we understand you don't like Obama that's ok whats not ok is you posting every god damn thing you read, we get it dude........chill
Unlike you, i'm not here to count anybody's posts or threads. I'm here to excercise my freedom of expression and freedom of speech. I go with the flow.
You don't like what I post ? Don't read it. It's that simple. I'm not your CNN or MSNBC or ABC.
Re: Obama's 9.5% jobloss claim is BOGUS and The Economy Is Even Worse Than You Think
Unemployment is almost ALWAYS double what the claim is, the rules for counting it changed a while back. Always assume its 2x. They don't count underemployed and have an odd way of including military people to fluff the #s....
Unlike you, i'm not here to count anybody's posts or threads. I'm here to excercise my freedom of expression and freedom of speech. I go with the flow.
You don't like what I post ? Don't read it. It's that simple. I'm not your CNN or MSNBC or ABC.
Dude, I don't care what you post like I said its ok you hate Obama and its ok to have a few posts about it but god damn not 500 posts ok? you understand?
Don't pull the free speech card on me, this is a forum and a forum has rules, you need to follow them ok? You understand?
Your damn right i'm counting your posts, you don't like it? too bad its freedom of speech:P
Last edited by Mabeyitstrue; 07-14-2009 at 01:26 PM..
Obama's 9.5% jobloss claim is BOGUS and The Economy Is Even Worse Than You Think
Linear Mode
