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Obama Wars
See other Obama Wars Articles

Title: Unemployment rose in 43 states last month
Source: Breitbart & AP
URL Source: http://www.breitbart.com/article.php?id=D9DCVDT80&show_article=1
Published: Jan 22, 2010
Author: Christopher S. Rugaber
Post Date: 2010-01-22 14:44:47 by Badeye
Keywords: None
Views: 11515
Comments: 49

Unemployment rose in 43 states last month Jan 22 02:05 PM US/Eastern By CHRISTOPHER S. RUGABER AP Economics Writer

WASHINGTON (AP) - Unemployment rates rose in 43 states last month, the government said Friday, painting a bleak picture of the job market that illustrated nationwide data released two weeks ago. The rise in joblessness was a sharp change from November, when 36 states said their unemployment rates fell. Four states—South Carolina, Delaware, Florida and North Carolina—reported record-high jobless rates in December.

New Jersey's rate, meanwhile, rose to a 33-year high of 10.1 percent while New York's reached a 26-year high of 9 percent.

Analysts said the report showed the economy is recovering at too weak a pace to generate consistent job creation.

"A lot of states that had started to add jobs (in November) gave up those gains in December," said Sophia Koropeckyj, managing director at Moody's Economy.com.

Texas and Georgia lost more jobs in December than they had gained the previous month, she noted, while Arizona and South Carolina lost nearly as many as they had gained.

That is consistent with nationwide trends. Employers shed a net total of 85,00 jobs in December, the government said earlier this month, after notching a small gain of 4,000 jobs in November.

In another nationwide trend, long-suffering states like California and Michigan saw their jobless rates stabilize even as they continued to bleed jobs. That's because thousands of frustrated workers gave up hunting for work and dropped out of the labor force, which means they aren't included in the unemployment rate.

California lost 38,800 jobs. But its unemployment rate was unchanged at 12.4 percent, the fifth-highest in the nation. That's because 107,000 people, or 0.6 percent of the state's workforce, gave up and stopped job-hunting.

Michigan shed 15,700 jobs, but 31,000 people left the labor force. That caused the state's jobless rate to fall slightly, to 14.6 percent from 14.7 percent. Michigan has the nation's highest unemployment rate.

Nationally, more than 600,000 people left the labor force in December, according to government data. The large exodus from the labor force indicates that "unemployment is a lot worse than the numbers suggest," Koropeckyj said.

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Begin Trace Mode for Comment # 23.

#1. To: All (#0)

Why the Democrats are heading to a blow out loss, and Obama heading into historical oblivion alongside Jimmy Carter is contained in the above.

Its the economy, Mr Messiah...

Badeye  posted on  2010-01-22   14:45:50 ET  Reply   Untrace   Trace   Private Reply  


#2. To: Badeye (#1)

Its the economy, Mr Messiah...

Wasn't job creation a lagging factor during the Bush administration, both of them?

How long into Reagan's administration (unemployment reached 10.8%) before job creation reduced unemployment?

lucysmom  posted on  2010-01-22   15:15:15 ET  Reply   Untrace   Trace   Private Reply  


#3. To: lucysmom (#2)

Wasn't job creation a lagging factor during the Bush administration, both of them?

How long into Reagan's administration (unemployment reached 10.8%) before job creation reduced unemployment?

Bush didn't see much above 7 percent and the two tax cuts caused job creation, which my company benefitted from greatly. We opened in November of 97.

Not sure about Reagan. Know it turned around quickly due to his tax cuts. Its the only proven way to stimulate job growth consistently in my view. Thats why Dems in the House are now calling for Obama to extend, not 'sunset' Bush tax cuts. It would bring venture capital back out on the table.

Badeye  posted on  2010-01-22   15:44:43 ET  Reply   Untrace   Trace   Private Reply  


#5. To: Badeye (#3)

The Reagan recovery was delayed because the tax cuts weren't enacted immediately. The Carter recession continued into the Reagan administration, you don't turn an aircraft carrier like you turn a canoe.

High interest rates continued thru much of the 80s, I remember our 401K reached for 10% rates near the end of the decade by signing up with higher risk insurance companies for fixed rate stuff. They defaulted. Took me awhile to get my very small deposit back (no one with a brain cell is heavily into fixed stuff) and even longer to get paid the $.02 cents of interest I was owed.

I fixed their wagon, I didn't cash the check. It cost them far more to look for the 2 cents than it was worth to cash it.

My Dad used to hate it when the corporate accounts were off by 2 cents and a whole team had to work until midnight until they found the mistake.

reaganisright  posted on  2010-01-22   15:55:10 ET  Reply   Untrace   Trace   Private Reply  


#8. To: reaganisright (#5)

It was tough finding work in 81 and 82. I was working two jobs, putting my way through the police academy back then.

Badeye  posted on  2010-01-22   16:18:25 ET  Reply   Untrace   Trace   Private Reply  


#9. To: Badeye (#8)

We had Bethlehem Steel here locally in Baltimore with tons of employees but by the '80s was on it's last leg. Can't compete when a janitor can make 50K/year with OT back in those days. I think the Chinese own the shell of what's left.

I had a secure job and actually bought a house heading into the Carter recession, 14% interest!

The Reagan tax cuts were delayed and so was the recovery. Stock market kicked up in Aug 82, ahead of the cuts, stock market always looks out 6-9 months. Notice how much it is down lately - Zero's legacy.

He might be thrown out as an illegal alien but only if the Rats get PO'd enough to fear for their own hides. Scott Brown increased the chances of this bigtime.

I feel like a damn fool, I was thinking about investing in Bendix, Intel or Motorola in Aug '82 and couldn't decide which one. All could've doubled my money by April '83.

reaganisright  posted on  2010-01-22   16:50:09 ET  Reply   Untrace   Trace   Private Reply  


#10. To: reaganisright (#9)

I recall it now...what that has to do with today, two decades later, isn't clear, but whatever.

Badeye  posted on  2010-01-22   16:53:38 ET  Reply   Untrace   Trace   Private Reply  


#18. To: Badeye (#10)

I recall it now...what that has to do with today, two decades later, isn't clear, but whatever.

You can't get by as a company overpaying employees, someone will undercut you. The Big Steel unions held a gun to Pres Ford's head in '76 and received a too large wage increase and idiot union workplace restrictions.

50K for a janitor was more than the best engineers I worked for made in the early '80s. I had friends that were engineers at BS and they made 1/2 what some janitors made because of "rules".

Guess what, the layoffs started as soon as the recession hit, Beth Steel was a huge employer and they were dropping employees and then engineers with many years on the job and keeping my younger friends. That ended just before they had enough years to qualify for a pension and were axed a couple months short.

Worst part I remember the '76 steel strike and told these guys it would kill the auto industry because the Japanese didn't buy from American mills back then. Took awhile, thankfully Ford is still standing. And they actually owned their own steel plant which I think they sold.

reaganisright  posted on  2010-01-23   14:13:11 ET  Reply   Untrace   Trace   Private Reply  


#21. To: reaganisright (#18)

Unions destroyed manufacturing in this nation. We can't compete when you pay somebody 77 bucks to put six bolts on a transmission, or pay janitors 50k per year...or pay for a 'job bank' and GM for union deadbeats. Thats why I so enjoyed my work late in the 80's, breaking strikes.

Badeye  posted on  2010-01-24   15:47:02 ET  Reply   Untrace   Trace   Private Reply  


#23. To: Badeye (#21) (Edited)

Why is it that manufacturing fled to socialist countries where workers are... wait for it...unionized? And I challenge you to buck up the company on which a worker made 77 bucks an hour for assembly line work which is 160k a year.

war  posted on  2010-01-24   20:13:10 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 23.

#24. To: war (#23)

Why is it that manufacturing fled to socialist countries where workers are... wait for it...unionized?

Which are the most powerful unions in China, India and Mexico?

Ibluafartsky  posted on  2010-01-24 20:17:00 ET  Reply   Untrace   Trace   Private Reply  


#25. To: war, Badeye (#23)

And I challenge you to buck up the company on which a worker made 77 bucks an hour for assembly line work

http://www.cnsnews.com/Public/Content/article.aspx?RsrcID=39499

Union Workers at Big Three Automakers Average $73 an Hour

Tuesday, November 18, 2008

By Pete Winn, Senior Writer/Editor

Any more stupid-ass questions, moron?

Ibluafartsky  posted on  2010-01-24 20:22:38 ET  (1 image) Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 23.

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