View Full Version : Jobless Claims Plunge!
Guest
11-25-2009, 08:56 AM
Just got a breaking news text from the AP. "Weekly claims for jobless benefits plunge to 466,000. Lowest level in more than a year"! Can it be the dreaded "stimulus" is actually starting to work??? Do we have the "audacity of hope"???
I personally know that friends of mine that were out of jobs are finding them and people's houses are starting to sell for after being stagnant for quite a while.
President Obama is a visionary. A rare bird in the "I want it yesterday" mentality of this country. He's putting us on the right path for sure. :clap2:
Go ahead... start the attacks! :):duck:
Guest
11-25-2009, 09:22 AM
Just got a breaking news text from the AP. "Weekly claims for jobless benefits plunge to 466,000. Lowest level in more than a year"! Can it be the dreaded "stimulus" is actually starting to work??? Do we have the "audacity of hope"???
I personally know that friends of mine that were out of jobs are finding them and people's houses are starting to sell for after being stagnant for quite a while.
President Obama is a visionary. A rare bird in the "I want it yesterday" mentality of this country. He's putting us on the right path for sure. :clap2:
Go ahead... start the attacks! :):duck:
The banner headline on this mornings Cincinnati Enquirer, Tuesday November 25 2009, states "Regional joblessness up slightly" and further says " October rate reaches 9.6%."
Usually Indiana and Kentucky and Ohio are very similar when it comes to published unemployment numbers.
I am uninformed on this. Jobless claims. Does unemployment money run out after a certain period for an individual? It could be that people are still out of work and have used up all of their unemployment.Perhaps they no longer can make claims.
I shouldn't be here in political. I really don't know what I am talking about.
I hope you are right Chelsea. I hope things are getting better.
Guest
11-25-2009, 10:37 AM
Also from AP, 1 hour ago.
"But the continuing claims figure does not include millions of people that have used up the regular 26 weeks of benefits typically provided by states, and are receiving extended benefits for up to 73 additional weeks, paid for by the federal government."
"Economists expect 145,000 payroll job cuts for November, a slight improvement from the net loss of 190,000 jobs last month. But the economy must add 125,000 jobs a month just to keep the unemployment rate from rising."
"The jobless rate hit a 26-year high of 10.2 percent in October and many economists believe the recovery will remain so weak that the jobless rate will keep rising, possibly topping 10.5 percent by the middle of next summer."
"Some analysts cautioned against reading too much into the sharp drop in unemployment claims. They noted that part of the improvement reflected large seasonal adjustment factors, which smooth out changes that normally occur at certain times of the year."
"Federal Reserve policymakers worried at their November meeting that the unemployment rate could remain elevated for several years, according to minutes of the discussions released Tuesday."
"Recent reports indicate employers are continuing to lay off workers. Struggling Internet company AOL last week said it plans to cut up to 2,500 jobs, more than a third of its work force, once it is spun off from the media conglomerate Time Warner Inc. And Hartford, Conn.-based health insurer Aetna Inc. said it will cut 625 jobs, or nearly 2 percent of its staff, and will make similar job cuts in the first quarter of 2010 due to the lagging economy and the potential impact of health care reform."
The true thing that's continuing to plunge is Obama's approval ratings.
Guest
11-25-2009, 10:59 AM
Also from AP, 1 hour ago.
"But the continuing claims figure does not include millions of people that have used up the regular 26 weeks of benefits typically provided by states, and are receiving extended benefits for up to 73 additional weeks, paid for by the federal government."
"Economists expect 145,000 payroll job cuts for November, a slight improvement from the net loss of 190,000 jobs last month. But the economy must add 125,000 jobs a month just to keep the unemployment rate from rising."
"The jobless rate hit a 26-year high of 10.2 percent in October and many economists believe the recovery will remain so weak that the jobless rate will keep rising, possibly topping 10.5 percent by the middle of next summer."
"Some analysts cautioned against reading too much into the sharp drop in unemployment claims. They noted that part of the improvement reflected large seasonal adjustment factors, which smooth out changes that normally occur at certain times of the year."
"Federal Reserve policymakers worried at their November meeting that the unemployment rate could remain elevated for several years, according to minutes of the discussions released Tuesday."
"Recent reports indicate employers are continuing to lay off workers. Struggling Internet company AOL last week said it plans to cut up to 2,500 jobs, more than a third of its work force, once it is spun off from the media conglomerate Time Warner Inc. And Hartford, Conn.-based health insurer Aetna Inc. said it will cut 625 jobs, or nearly 2 percent of its staff, and will make similar job cuts in the first quarter of 2010 due to the lagging economy and the potential impact of health care reform."
The true thing that's continuing to plunge is Obama's approval ratings.
President Obama and the top economists already said that it would take a minimum of 18 mos. for the unemployment rate to start to drop. It's only been a year. Let's give it, at the very least, the time allotted.
Also, I can't shed any tears over AOL or any insurance company. First, I lost all respect for AOL when they outsourced their support to the middle East. After all they are named "Amercia On Line". I dropped them immediately. And I have no tears for the insurance industry that has been gouging us for years. Sorry, you cry for them. I'll take Health Reform with the Public Option included. (And it will be, soon or later!) Mark it down, as Bucco would say. :)
Guest
11-25-2009, 11:03 AM
Wait a minute. President Obama said unemployment wouldn't go above 8.5% if they passed the stimulus plan. Opps.
And I have no tears for the insurance industry that has been gouging us for years. Sorry, you cry for them.
Yes, all those people loosing their jobs. Too bad for them I guess, they deserve it.
Funny how you attack insurance companies for gouging us but biggest gouger of them all gets a free pass. Maybe if the government didn't confiscate so much of what we earn, people could afford health care and wouldn't need the government hand- outs?
Funny little cycle isn't it. Take from the earners and redistribute it to others. Problem is the earners are getting thrown out of work and are no longer paying taxes that pay for the hand-outs.
What's the Liberal answer? Higher taxes and more government programs. There's common sense for you.
Guest
11-25-2009, 11:21 AM
Wait a minute. President Obama said unemployment wouldn't go above 8.5% if they passed the stimulus plan. Opps.
Yes, all those people loosing their jobs. Too bad for them I guess, they deserve it.
The only jobs created or saved are in their minds. How many jobs were created or saved in districts that do not exist? I can't recall the source of the article but I read this week where the actual unemployment rate is closer to 17%.
Guest
11-25-2009, 03:30 PM
Please do not rely on job numbers or any other numbers you get from this administration if you plan to use them in making any important decisions.
Guest
11-25-2009, 05:00 PM
Forget the political stripes...this recession was some three years in the making and it will take at least that long to recover. The history of previous economic downturns supports this view..
So many of us here in The Villages are fortunate -- we're no longer in the labor market. I'd hate to be job-hunting now!
Presidents have less impact on the economy (up or down) than is generally thought or assumed.
There are many reasons for this recession...derivatives, greed among many, deregulation of the financial services industry, poor management by the Big Three, etc.
Guest
11-25-2009, 06:40 PM
Forget the political stripes...this recession was some three years in the making and it will take at least that long to recover. The history of previous economic downturns supports this view..
So many of us here in The Villages are fortunate -- we're no longer in the labor market. I'd hate to be job-hunting now!
Presidents have less impact on the economy (up or down) than is generally thought or assumed.
There are many reasons for this recession...derivatives, greed among many, deregulation of the financial services industry, poor management by the Big Three, etc.
Well said.
Now I need to get OUT of political. I got 7 on that test posted here.
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