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September unemployment is 9.8 percent

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Old 10-02-2009, 10:02 AM   #1
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September unemployment is 9.8 percent

What's even scarier in this article is the talk of how many people have stopped looking for jobs.

Jobless rate reaches 9.8 percent in September - Yahoo! News

Quote:
If laid-off workers who have settled for part-time work or have given up looking for new jobs are included, the unemployment rate rose to 17 percent, the highest on records dating from 1994.

More than a half-million unemployed people gave up looking for work last month. Had they continued searching, the official jobless rate would have been higher.

All told, 15.1 million Americans are now out of work, the department said. And more than 7.2 million jobs have been eliminated since the recession began in December 2007.
Not a bashing thread. More a thankful that I have a job thread. My employer has always been a cash first business, and we have a stable client base. I am very thankful that I have my job!
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Old 10-02-2009, 10:20 AM   #2
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Re: September unemployment is 9.8 percent

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Originally Posted by firstdown View Post
So at what point do we declare that the stimulas bill didn't work or do we just keep waiting until things to turn around to declare its was a sucess?
Well to make a declaration like that you have to do a lot more digging than just looking at September's 9.8% and summarily passing judgment.

You have to analyze jobs to ascertain:

- How many people would be unemployed if the stimulus wasn't passed? Would it be more than 9.8%?

- How many people have adjusted their standard of living? For example, my wife became a stay at home mom last month. She's not looking for another job, but she doesn't want one either.

- How many jobs have been created by stimulus funds to date? How many are planned?

- How many jobs have been created/lost thanks to economic conditions. These creations/losses would happen regardless of stimulus.

It's a complicated exercise to accurately determine whether stimulus worked. Don't be a headline grabber when it comes to this stuff, focusing on the headlines leads to thoughtless debate and a lack of critical thinking.
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Old 10-02-2009, 11:07 AM   #3
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Re: September unemployment is 9.8 percent

Well said Schneed
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Old 10-02-2009, 12:20 PM   #4
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Re: September unemployment is 9.8 percent

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Job losses moderated in August, but the unemployment rate ticked up 0.1 percentage point to 9.8%, the highest level since June 1983.
There is no real way of slicing that to make it better, the current administration is failing plain and simple.
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Old 10-02-2009, 12:27 PM   #5
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Re: September unemployment is 9.8 percent

I think it's worth noting this is the time of year where a lot of seasonal employment comes to an end. College kids are back to school, and in areas like the northeast you have a lot of people laid off this time of year as contracting work, landscaping, etc. is winding down.
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Old 10-02-2009, 12:48 PM   #6
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Re: September unemployment is 9.8 percent

Quote:
Originally Posted by Schneed10 View Post
Well to make a declaration like that you have to do a lot more digging than just looking at September's 9.8% and summarily passing judgment.

You have to analyze jobs to ascertain:

- How many people would be unemployed if the stimulus wasn't passed? Would it be more than 9.8%?

- How many people have adjusted their standard of living? For example, my wife became a stay at home mom last month. She's not looking for another job, but she doesn't want one either.

- How many jobs have been created by stimulus funds to date? How many are planned?

- How many jobs have been created/lost thanks to economic conditions. These creations/losses would happen regardless of stimulus.

It's a complicated exercise to accurately determine whether stimulus worked. Don't be a headline grabber when it comes to this stuff, focusing on the headlines leads to thoughtless debate and a lack of critical thinking.
-You also have to factor in how many anti-aircraft carrier missiles the CHICOMS can buy with the interest off the money we've borrowed from them.
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Old 10-02-2009, 12:48 PM   #7
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Re: September unemployment is 9.8 percent

Quote:
Originally Posted by CRedskinsRule View Post
What's even scarier in this article is the talk of how many people have stopped looking for jobs.

Jobless rate reaches 9.8 percent in September - Yahoo! News



Not a bashing thread. More a thankful that I have a job thread. My employer has always been a cash first business, and we have a stable client base. I am very thankful that I have my job!
damn, one day i'll learn, you can't have a politics thread without bashing. I am thankful I have a job that affords me the opportunity to pay bills, provide for my kids as best I can, and at a company that will be viable for the short and hopefully long term.
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Old 10-02-2009, 12:58 PM   #8
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Re: September unemployment is 9.8 percent

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Originally Posted by CRedskinsRule View Post
damn, one day i'll learn, you can't have a politics thread without bashing. I am thankful I have a job that affords me the opportunity to pay bills, provide for my kids as best I can, and at a company that will be viable for the short and hopefully long term.
I'm glad you've a good job and your family is doing well.
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Old 10-02-2009, 01:15 PM   #9
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Re: September unemployment is 9.8 percent

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Originally Posted by Mattyk72 View Post
I think it's worth noting this is the time of year where a lot of seasonal employment comes to an end. College kids are back to school, and in areas like the northeast you have a lot of people laid off this time of year as contracting work, landscaping, etc. is winding down.
As first down pointed out, it's been getting higher all summer, but your logic is not spot on either. When kids go back to school, they vacate positions that employers usually try to fill, also, no kid files at the unemployment office. To add to this, A LOT of companies are already gearing up for black friday and the holidays and starting to train employees to know how to service customers for the holidays...sure more will occur at the end of this month, but I am already prepared for my holidays as are several other companies and replaced our student employees.

About landscaping work and contract work, that is a valid argument if all summer wasn't declining in unemployment rate. So what is the current administration doing to fix this issue? Worst rate since 83 and predicted to hit 10% by end of the year! Instead, he's off in Denmark pitching for Chicago to get the olypics, which was an epic fail since we were predicted to rival Rio, and we were first one dismissed.
I think your best argument would have been backing it up with historical data at this time of year, not blindly supporting who you voted for. We ALL know if this was Bush, this would be a public uproar and cry for impeachment...but it's Obama, therefore he's untouchable.
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Old 10-02-2009, 02:12 PM   #10
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Re: September unemployment is 9.8 percent

im really thankful i have a good job. nice try for a thread C
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Old 10-02-2009, 02:16 PM   #11
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Re: September unemployment is 9.8 percent

Since I get paid with taxpayers money, I may sweat when next year's budget is finalized. Luckily, Virginia's unemployment isn't "terrible".
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Old 10-02-2009, 02:23 PM   #12
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Re: September unemployment is 9.8 percent

I'm also thankful. I certainly am not taking it for granted. I spent a significant amount of time on the finance side of the mortgage industry, so when the bubble burst my job situation was tenuous at best. I was really stressed for a while, but I'm fortunate to have landed on my feet working for a phenomenal small company.

Working and living in Bethesda/Chevy Chase, it's easy to forget the economic climate around the rest of the country. It's so affluent, you just don't see the ill effects on a daily basis. When I was in Gainesville, Fl a few weeks ago it was really sad. So much dead real estate, and I saw a lot more homeless people than when I left that town two years ago. I also saw dozens of businesses that seemed to be doing fine a few years back that have shut their doors.
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Old 10-02-2009, 03:12 PM   #13
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Re: September unemployment is 9.8 percent

Quote:
Originally Posted by jsarno View Post
As first down pointed out, it's been getting higher all summer, but your logic is not spot on either. When kids go back to school, they vacate positions that employers usually try to fill, also, no kid files at the unemployment office. To add to this, A LOT of companies are already gearing up for black friday and the holidays and starting to train employees to know how to service customers for the holidays...sure more will occur at the end of this month, but I am already prepared for my holidays as are several other companies and replaced our student employees.

About landscaping work and contract work, that is a valid argument if all summer wasn't declining in unemployment rate. So what is the current administration doing to fix this issue? Worst rate since 83 and predicted to hit 10% by end of the year! Instead, he's off in Denmark pitching for Chicago to get the olypics, which was an epic fail since we were predicted to rival Rio, and we were first one dismissed.
I think your best argument would have been backing it up with historical data at this time of year, not blindly supporting who you voted for. We ALL know if this was Bush, this would be a public uproar and cry for impeachment...but it's Obama, therefore he's untouchable.
Whoa calm down cowboy, I'm not making this a Bush/Obama deal at all. Just talking about the unemployment rate and I tossed out a thought off the top of my head.
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Old 10-02-2009, 06:46 PM   #14
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Re: September unemployment is 9.8 percent

The recession is apparently over for everyone except California who will continue to suffer for another two years. For everyone else it's the equivalent of getting over a long illness. Your body has finally rid itself of the virus but in the process you find yourself beaten up from being sick for so long, even though you're technically healthy again.

This is going to be a great time though for young people to get hired. The economy will complete it's turnaround and the baby boomers will soon be retiring. I can't wait.
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Old 10-03-2009, 12:31 PM   #15
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Re: September unemployment is 9.8 percent

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Originally Posted by Mattyk72 View Post
Whoa calm down cowboy, I'm not making this a Bush/Obama deal at all. Just talking about the unemployment rate and I tossed out a thought off the top of my head.
COWBOY? LOL...think that's the first time I have ever been called that.

I understand you weren't making a direct connection to Bush / Obama, but if Bush was miraculously in office (obviously couldn't happen) then how would you respond to this?
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