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Title: ABC News Unemployment Rises to 9.2 Percent in June, Employers Add Only 18000 Jobs (The Obama Depression)
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URL Source: http://abcnews.go.com/Business/unem ... r-department/story?id=14020360
Published: Jul 8, 2011
Author: ABC News
Post Date: 2011-07-08 08:51:39 by no gnu taxes
Keywords: None
Views: 12357
Comments: 32
The Labor Department's employment report, released this morning, showed the unemployment rate increased to 9.2 percent, with employers adding 18,000 jobs in June. But employees and employers still face a dilemma over the nation's skills gap. The unemployment rate in May was 9.1 percent, after nonfarm payroll employment grew by a modest 54,000 jobs, much fewer than the 110,000 jobs economists expected to be added. Stephen Bronars, senior economist at Welch Consulting, said many economists had grown more pessimistic since the May report, forecasting 80,000 jobs for June. "People were overreacting to that bad news," Bronars said. "I'm a little more optimistic than what I think consensus is." Bronars said the Labor Department's monthly jobs reports have shown increasingly that the state of the labor market differs depending on one's education, experience and training. "If you have the right skills, the labor market has been improving substantially over the last year. For people who lack those skills, especially those who may only have a high school degree, they're going to still struggle in the labor market." PHOTO: A job seeker looks at a bulletin at the Texas Workforce Commission's Workforce Solutions of Greater Dallas job resource center in Richardson, Texas, July 5, 2011. LM Otero/AP Photo A job seeker studying a bulletin board at the... View Full Size PHOTO: A job seeker looks at a bulletin at the Texas Workforce Commission's Workforce Solutions of Greater Dallas job resource center in Richardson, Texas, July 5, 2011. LM Otero/AP Photo A job seeker studying a bulletin board at the Texas Workforce Commission's Workforce Solutions of Greater Dallas job resource center in Richardson, Texas, July 5, 2011. Obama Answers Speaker Boehner's Tweeted Question at Twitter Town Hall Watch Video Bill Clinton: ABC Exclusive Interview Watch Video Hidden Talents Save U.S. Jobs Watch Video According to the 2011 Annual Talent Shortage Survey, 52 percent of U.S. employers in January said they had difficulty finding people with the skills they needed to fill positions. "That might sound paradoxical or counterintuitive with a high unemployment rate, but the fact is there's a talent mismatch," Melanie Holmes, vice president at ManpowerGroup, which surveyed about 40,000 employers in 39 countries in January, said. "There might be people looking for work, but they don't have the skills people are looking for." The job skills gap and how to close it remains a "hot topic," said Holmes. "We've got to cut the deficit, but we can do that while making investments in education, research and technology that actually create jobs," President Obama said in his weekly radio address Sunday. The president was also asked several questions related to entrepreneurship, job creation and training during the first White House Twitter Town Hall meeting this week. And advanced manufacturing and job creation often come up in discussions about U.S. competitiveness, unemployment and reducing the nation's deficit. The global average of employers reporting difficulty in filling jobs is 34 percent, while in U.S. neighbor Canada it's 29 percent. It's not clear what's contributing to the difference in employer responses internationally, but the weakening U.S. dollar and strengthening loonie -- the Canadian $1 coin -- has meant a higher cost of living in Canadian cities. Vancouver, Montreal and Calgary all rank higher than Los Angeles, the most expensive city in the U.S., with the cost of living in Toronto equal to that of New York, according to the Worldwide Cost of Living Report published by the Economist Intelligence Unit Thursday. According to the Manpower Group survey, the most difficult jobs to fill in the U.S. were those in the skilled trades -- carpenters, plumbers and electricians. Holmes said she suspected that skilled trade jobs have become "aging professions" in which the number of new workers is not keeping pace with the number of those retiring or exiting. "I don't think a lot of young people are waking up and saying, I want to be a plumber, though that's definitely anecdotal," she said. "Many high school students -- and their parents -- do not aspire for them to attend a technical school or get an apprenticeship for a trade. Many people want to go to a four year college."
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#1. To: no gnu taxes (#0)
President Obama will discuss the latest spike in the unemployment rate at 10:35 a.m., according to a change in the White House schedule. The Labor Department said today that the jobless rate increased from 9.1% to 9.2% in June, which saw a rise of only 18,000 jobs. The bad news comes as Obama tries to negotiate a deal with Republicans to increase the nation's $14.3 trillion debt ceiling while reducing federal spending. Republicans quickly jumped on the bad numbers. House Speaker John Boehner, R-Ohio, said, "today's report is more evidence that the misguided 'stimulus' spending binge, excessive regulations, and an overwhelming national debt continue to hold back private-sector job creation in our country." Former Obama spokesman Bill Burton, in a tweet, said the new jobs reports underscores the need to increase the nation's $14.3 trillion debt ceiling, lest the government default. "At this point imagine the absolute market catastrophe if Republicans let the country default," Burton wrote. "It's time the GOP steps up to the plate." Obama is going to explain Kenyanomics to ya.
Obama's watch stopped on 24 May 2008, but he's been too busy smoking crack to notice.
Inherited...big oil...tax cuts for the rich...inherited...I've made progress...don't return to failed policies...corporate jets...blah blah
Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??
Goolsby: "We already knew this." Another CT!!!!
Stunner: NFP Up Just 18K, Unemployment Rate 9.2%, Household Survey Down 445,000, Birth Death +131,000 Submitted by Tyler Durden on 07/08/2011 08:30 -0400 * Unemployment Absolute disaster. Jobs lost since 2000. When we needed 200 000 per month just to stay even.
Further Quantitative Easing needed!!! first Time QE heard. November 2008...LMFAO DCWallStUSEMpire Clueless....
Hey conservative scum bags, how come tax cuts for the rich have not trickled down? It's been over 30 years since this idea was made fact. When will it actually happen?
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
If we had respect for the above skilled trades rather than an attitude that these traditional union jobs are held by over-paid parasites or suitable for illegal-immigrants-who-do-the-work-Americans-won't-do, there would be more young people signing up.
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
After the Bush tax cuts, the share of the money paid by the rich actually went up.
Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??
So why has the money from the rich who are paying less taxes now trickle down yet? One more time: Hey conservative scum bags, how come tax cuts for the rich have not trickled down? It's been over 30 years since this idea was made fact. When will it actually happen?
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
Trickle down - HA! The study's authors-Andrew Sum, Ishwar Khatiwada, Joseph McLaughlin and Sheila Palma-write that from the start of the recovery through the end of the first quarter of 2011, national income increased by $505 billion. But none of that growth came from a rise in aggregate wages and salaries. That despite a 5.7% increase in productivity. Thirty years ago - what happened then. Reagan Revolution?
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
It is the scumbag Republican/conservatives who get upset any factory worker makes anything above starvation wages. In fact I can find hundreds of posts on conservative forums where people were cheering the collapse of the American auto industry because it would place all those "overpriced" workers out of a job.
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
Yes it did, however... The researchers compare this recovery to other post-recession periods since 1975. Of the four, only one-2001-03-saw corporate profits account for more than half (53 percent) of national income growth. And in 1991-92, corporate profits' share was minus 1 percent, while aggregate wages and salaries accounted for 50 percent.
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
One doesn't have to look further than this forum.
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
The tax cuts were back in 2003 and was succeeded by 5 straight years of an expanding economy. The collapse was caused by you leftard dumbasses who insisted on giving NINJ mortgages to illegal aliens and ghetto thugs and empowering the GSEs to buy tons of such loans and dump them into the securities market.
Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??
Of course that has been shown to be false over and over again. The question is, are you part of the propaganda dispensing elite, or a boot-licking lackey?
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
No, it hasn't. No CRA, no empowering of the GSEs, no collapse, period.
Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??
When the US sends another shuttle to the ISS. And Unicorns fly out of my butt...;}
The question is, are you part of the propaganda dispensing elite, or a boot-licking lackey? Mental Health Laws were repealed, I believe under Reagan so that 1000's of patients were let loose on the streets.... some went into the Economics Field of endeavor...;} or this... " The question is, are you part of the propaganda dispensing elite, or a boot-licking lackey?" One or the other....8D
Teleprompter on line Ups and downs, tough headwinds.
Obama's watch stopped on 24 May 2008, but he's been too busy smoking crack to notice.
Yes it has. One more time, just for you Start with the most basic fact of all: virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie. That’s right — most subprime mortgages did not meet Fannie or Freddie’s strict lending standards. All those no money down, no interest for a year, low teaser rate loans? All the loans made without checking a borrower’s income or employment history? All made in the private sector, without any support from Fannie and Freddie. Look at the numbers. While the credit bubble was peaking from 2003 to 2006, the amount of loans originated by Fannie and Freddie dropped from $2.7 trillion to $1 trillion. Meanwhile, in the private sector, the amount of subprime loans originated jumped to $600 billion from $335 billion and Alt-A loans hit $400 billion from $85 billion in 2003. Fannie and Freddie, which wouldn’t accept crazy floating rate loans, which required income verification and minimum down payments, were left out of the insanity. There’s a must-read study by staff members of the Federal Reserve Bank of New York analyzing the roots of the subprime crisis that came out in March. I don’t think it got much attention then as the conclusions seemed uncontroversial at the time. But now that Washington politicians are trying to rewrite history, it should be mandatory reading for every American interested in knowing how we got here. www.nakedcapitalism.com/2...h-to-corporate-crime.html The source of your mis-(or dis)information appears to be this During a discussion of proposed financial regulatory reform on the April 20 edition of Fox News' Hannity, Fox News contributor Dana Perino stated: PERINO: If you look at the poll yesterday from Pew Research Center, 80% of the American people don't trust the government, nor do they trust the other big institutions that are in their lives, including the banks. And at the end of the day, when they step back and you start peeling back the layers, anybody paying attention, they might watch President Obama's speech on Thursday and be impressed, but then also they might realize that he was the one who was defending Fannie Mae and Freddie Mac that led to this crisis in the first place. mediamatters.org/research/201004200057 “The most brilliant propagandist technique will yield no success unless one fundamental principle is borne in mind constantly - it must confine itself to a few points and repeat them over and over” Joseph Goebbels
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
mediamatters.org...... Hell, why don't you just cite PRAVDA and have done with it? LMAO. No WONDER you're such a sheep.
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead.
LMAO. No WONDER you're such a sheep. Yes, my commissar. Only party approved sources will be used in the future - not.
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
While the credit bubble was peaking from 2003 to 2006, the amount of loans originated by Fannie and Freddie dropped from $2.7 trillion to $1 trillion. Don't know what that's supposed to mean as the GSEs don't originate loans. But anyway: http://www.investopedia.com/articles/economics/08/fannie-mae-freddie-mac-credit-crisis.asp#axzz1RWsFG6OL http://winteryknight.wordpress.com/2009/02/22/democrats-caused-the-recession-and-republicans-tried-to-stop-it/ http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1424456 http://www.africanexecutive.com/modules/magazine/articles.php?article=3586 http://ezinearticles.com/?Fannie-Mae:-The-Foundation-of-the-Subprime-Crisis&id=6311655
Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??
And Canada is actually creating jobs at a faster clip than the US, but then they don't have the Republican party to contend with.
He's rather queenly and regal today, dontchathink?
Sorry, that was the right article and the wrong link. The correct link follows: www.businessweek.com/inve...08/09/fannie_mae_and.html Fannie Mae and Freddie Mac were victims, not culprits
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
He exhibits the tendency everyday but has been especially lovely the past couple of days.
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
Things are not going to get better until the chief business hater is booted from the Oval Office.
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead.
“How strangely will the Tools of a Tyrant pervert the plain Meaning of Words!” -- Samuel Adams -- More of your cut and paste, but even the old guys had you described to a 'T'.
He projects all over the place and apparently hasn't a clue.
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
Canada will collapse when the US does. They'll have a better climate though...;} img]http://www.investmenttools.com/images/wfut/crb/bdi_cl.gif
Obama looks at 9.2% unemployment, speaks at 10:35 a.m.
"We (government) need to do a lot less, a lot sooner" ~Ron Paul
#2. To: hondo68 (#1)
Obama looks at 9.2% unemployment, speaks at 10:35 a.m.
#3. To: no gnu taxes (#0)
#4. To: All (#3)
#5. To: All (#4)
#6. To: hondo68, no gnu taxes, mcgowanjm (#1)
(Edited)
#7. To: no gnu taxes (#0)
"Many high school students -- and their parents -- do not aspire for them to attend a technical school or get an apprenticeship for a trade. Many people want to go to a four year college."
#8. To: Godwinson (#6)
#9. To: no gnu taxes (#8)
After the Bush tax cuts, the share of the money paid by the rich actually went up.
#10. To: Godwinson (#6)
Hey conservative scum bags, how come tax cuts for the rich have not trickled down? It's been over 30 years since this idea was made fact. When will it actually happen?
#11. To: lucysmom, no gnu taxes (#7)
"Many high school students -- and their parents -- do not aspire for them to attend a technical school or get an apprenticeship for a trade. Many people want to go to a four year college."
#12. To: no gnu taxes (#8)
After the Bush tax cuts, the share of the money paid by the rich actually went up.
#13. To: Godwinson (#11)
In fact I can find hundreds of posts on conservative forums where people were cheering the collapse of the American auto industry because it would place all those "overpriced" workers out of a job.
#14. To: Godwinson (#9)
#15. To: no gnu taxes (#14)
The collapse was caused by you leftard dumbasses who insisted on giving NINJ mortgages to illegal aliens and ghetto thugs and empowering the GSEs to buy tons of such loans and dump them into the securities market.
#16. To: lucysmom (#15)
Of course that has been shown to be false over and over again.
#17. To: Godwinson (#6)
When will it actually happen?
#18. To: lucysmom (#15)
Of course that has been shown to be false over and over again.
#19. To: no gnu taxes (#0)
"We (government) need to do a lot less, a lot sooner" ~Ron Paul
#20. To: no gnu taxes (#16)
No, it hasn't.
#21. To: lucysmom (#20)
www.nakedcapitalism.com...
-- Joseph Goebbels --
#22. To: Capitalist Eric (#21)
Hell, why don't you just cite PRAVDA and have done with it?
#23. To: lucysmom (#20)
#24. To: mcgowanjm (#4)
When we needed 200 000 per month just to stay even.
#25. To: lucysmom (#22)
Yes, my commissar. Only party approved sources will be used in the future - not.
#26. To: Capitalist Eric (#21)
www.nakedcapitalism.com...
#27. To: mininggold (#25)
#28. To: no gnu taxes (#0)
"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899
#29. To: lucysmom (#22)
“How strangely will the Tools of a Tyrant pervert the plain Meaning of Words!”
-- Samuel Adams --
-- Joseph Goebbels --
#30. To: Capitalist Eric (#29)
#31. To: mininggold (#30)
#32. To: mininggold (#24)
And Canada is actually creating jobs at a faster clip than the US, but then they don't have the Republican party to contend with.
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