“Unexpected” Unemployment? (Sept 09)
Today I am flying the 1st Navy Union Jack. I fly this flag when Liberty or Freedom are at risk. The nation’s unemployment figures came out on Oct 2nd 2009 and they are, once again, “shocking” and “unexpected.”
Liberty Threatened
Yes they are “shocking” … but “unexpected?” Here’s the analysis and numbers.
WASHINGTON (MarketWatch) — The nation’s job losses accelerated in September, driving the unemployment rate to a 26-year high of 9.8% and casting a cloud over the incipient
recovery, economic data showed Friday. Nonfarm payrolls fell by a greater than expected 263,000 in September, the Labor Department reported. It marked the 21st consecutive month of job losses. Since the recession began in December 2007, 7.2 million jobs have been lost and the unemployment rate has doubled. Details of the report were almost universally dismal, with the number of unemployed people rising by 214,000 to 15.1 million. And of those, 5.4 million have been out of work longer than six months, accounting for a record 35.6% of the jobless. More than a half a million people dropped out of the labor force, and the employment participation rate fell to 65.2%, the lowest in 23 years. The average duration of unemployment rose to 26.2 weeks, a record high.
Unemployment Facts from US Bureau of Labor Statistics – Sept 2009
- Unemployment at 9.8%
- 263,000 jobs lost in Sept 2009
- lost 4.1 million jobs since the beginning of this year
- 7.2 million since January 2008
- unemployment above the national rate for teenagers (25.9 percent),
- single mothers (11.6 percent)
- construction workers (17.1 percent)
- hotel and restaurant workers (11.4 percent)
- unemployed & underemployed workers = 17 percent, up from 11.2 percent
- Government workers also had the lowest unemployment rate, 4.2 percent
- Teenagers: 25.9 percent
- Construction workers: 17.1 percent
- Blacks: 15.4 percent
- Hispanics: 12.7 percent
- Single moms: 11.6 percent
- Adult men: 10.3 percent
- Whites: 9 percent
- Retail workers: 9 percent
- Adult women: 7.8 percent
- Married men: 7.4 percent
- Married women: 5.8 percent
- Government workers: 4.2 percent
- 7.2 million jobs have been lost and the unemployment rate has doubled.
- number of unemployed people rising by 214,000 to 15.1 million.
- 5.4 million have been out of work longer than six months, a record 35.6% of the jobless
- More than a half a million people dropped out of the labor force
- the employment participation rate fell to 65.2%, the lowest in 23 years
- The average duration of unemployment rose to 26.2 weeks, a record high.
Source: U.S. Bureau of Labor Statistics
Wall Street Journal: Job losses moderated in August, but the unemployment rate ticked up 0.1 percentage point to 9.8%, the highest level since June 1983. But another more comprehensive gauge of unemployment ticked up even more. The government’s broader measure, known as the “U-6″ hit 17% in September, 0.2 percentage points higher than August. The U-6 figure includes everyone in the official rate plus “marginally attached workers” — those who are neither working nor looking for work, but say they want a job and have looked for work recently; and people who are employed part-time for economic reasons, meaning they want full-time work but took a part-time schedule instead because that’s all they could find. (U-6 defined at this link)
Socialism? Lets look again at the government takeover of Chrysler: Under the federal court ruling, 65% of Chrysler is now owned by the federal government and the United Auto Worker’s union. Fiat owns only 20%. The other 15% is till privately owned and presumably will be traded on the stock market. Obama smiles and says he doesn’t want to run the auto industry. How is this “bailout” working?
Socialism? Lets look at the government takeover of G.M., how’s that working? General Motors and the United Auto Workers union have waged war against each other—sometimes hot, sometimes cold—for most of the past 80 years. One of the few things on which they collaborated, sadly, was undermining Saturn, which began as the boldest effort to reform the dysfunctional dynamics of their relationship. On Wednesday, GM decided to close Saturn, putting 13,000 employees on the street. So that bailout is not working either!
Socialism? Cash for Clunkers …Edmonds: Suffering from a Cash for Clunkers hangover after August’s party, September is on track to be the year’s lowest rate of car sales, Edmunds.com forecasts. “The best month of the year for car sales is being quickly followed by what could be the worst month of the year,” said Edmunds.com CEO Jeremy Anwyl. “Cash for Clunkers was supposed to prime the pump, but that is a physics concept, and economics is quite different. Demand has dropped off significantly since the program ended.” So this didn’t work either did it?
Interactive Map by state from UnemploymentStats.org HERE
(Try this map, it is very well done.)
Bottom Line
The present course we are on is not working. The stimulus has had no affect, jobless rates continue to rise, people are dropping totally out of the workforce because they cannot find jobs. In January, the Bush Tax Cuts stop, which means higher taxes which will exacerbate the unemployment problem. If Health Care Reform goes into effect, there’s another “tax” … and then there is Cap and Trade, a huge tax on EVERYONE (not just those with incomes over $250,000!). We are in SERIOUS trouble and all this administration and congress can do is increase the burden onto the shoulders of the taxpayer which will only further depress the economy and job market. If these people were TRYING to make this happen, the policies they are implementing would be the way to do it … today’s statistical data is proof.
Shocking, but hardly Unexpected! Shocking yes, but not unexpected from THIS administration. The greater the economic crisis the more people turn to the government for help, and the more government help we get, the deeper into socialism we sink. Socialism is what these people want, these people represent the “radical” left. The proof of their intent is in the above analysis and data and their total “seeming” inability to alter the course. The figures today are SHOCKING, but they are not UNEXPECTED … this is exactly what the left wants … a march toward socialism at the expense of the American workers and citizens. Liberty and Freedom are indeed at risk from these people.
Call it what it is, it is socialism, (1) This is socialism we are experiencing and (2) it is not working, (3) continuing to do the same things, making it worse, either means you are an idiot or it is part of a plan. The figures and analysis above are the simple proof. Also, the fact that they keep trying to throw taxpayer money at the problems (without any accountability) proves they really do not want to fix it.
It is Socialism. If you want socialism, then you are we are on the correct economic track. But if you voted for Obama and the Democrats in this congress, and you are out of a job, or retired and worried about your retirement income, then I have to ask …
How’s that Hope and Change working for you?
15,000,000 jobless citizens are thinking about that right now!
Americans do not like Socialism!
