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Posted: 6/6/2008 4:34:23 AM EST
Just saw it on Foxy news. It's recession time boys.

Oh shit I forgot, everything is fine, and we need an economics class.
Link Posted: 6/6/2008 4:36:05 AM EST
Yay!!



Don't worry...

<­BR>
OBLAMA GONNA SAVES US!!1!
Link Posted: 6/6/2008 4:37:13 AM EST

Originally Posted By gonzo_beyondo:
Yay!!



Don't worry...

<­BR>
OBLAMA GONNA SAVES US!!1!



I'm not worried at all, according the arfcom economic expert league, everything is fine!
Link Posted: 6/6/2008 4:38:09 AM EST
[Last Edit: 6/6/2008 4:42:52 AM EST by skygod]
Didn't we post growth last quarter?

EDIT:

U.S. Loses 49K Jobs in May; Rate Jumps to 5.5%
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Rate This Recommend Email this Story | Respond to Editor | Print

SEND FOXBusinessDigg It StumbleUpon Newsvine Reddit The government reported the U.S. lost 49,000 jobs in May as the unemployment rate rose by the largest amount since February 1986.

The Labor Department reported the fifth consecutive month of declines in nonfarm payrolls. The decline was better-than-expected however, as economists had been expecting a 60,000 job decline for last month.


The unemployment rate, which is calculated separately by a survey of households, soared to 5.5% in May. Wall Street had only been expecting a slight rise to 5.1%. It's the highest the rate has been since October 2004.

The government reported that the number of people classified as unemployed jumped by 861,000 last month to 8.5 million. According to the Bureau for Labor Statistics, the increase in unemployed people is a reflection of job cuts as well as new and returning job seekers. It also said the unemployment uptick was "disproportionately large" among 16 to 24-year olds.

The U.S lost more jobs in May than in April, when the government reported a more modest 28,000 job decline. In March the Labor Department reported an 88,000 job loss.

While the labor situation has weakened amid job cuts in the construction, financial and manufacturing sectors, experts have said employment has not fallen off the map.

Thanks to the ongoing housing slump, the construction sector took the biggest hit in May, shedding 34,000 jobs. Over the past seven months the nation has lost 320,000 construction positions.

Manufacturing continued to lose jobs, posting a 26,000 job decline last month.

On the upside, the health care industry continued to add employees. The sector expanded by 34,000 jobs in May.

The government also said average hourly earnings rose by 5 cents, or 0.3%.

www.foxbusiness.com/story/markets/economy/loses-k-jobs-rate-jumps/


Yea 5.5 is just terrible.

Link Posted: 6/6/2008 4:38:11 AM EST
In on the first page.

In before the shit storm.

In before Dave_A.

Popcorn?
Link Posted: 6/6/2008 4:38:29 AM EST
In before the sarcastic "sky is falling" nonsense.
Link Posted: 6/6/2008 4:38:52 AM EST
We elect NeoCons and Liberals that take over a third of the GNP for the cost of government from the productive economy and then we wonder why there are no jobs.
Link Posted: 6/6/2008 4:41:07 AM EST
OST

page one

Link Posted: 6/6/2008 4:41:23 AM EST
[Last Edit: 6/6/2008 4:44:39 AM EST by JIMBEAM]

Originally Posted By patriot73:
Just saw it on Foxy news. It's recession time boys. No it's not

Oh shit I forgot, everything is fine, and we need an economics class. Yes you do


5.5% unemployment isn't that bad. When you come our of an era of record low unemployment an icrease like we are seeing now doesn't mean shit.



Link Posted: 6/6/2008 4:43:36 AM EST

Originally Posted By JIMBEAM:

Originally Posted By patriot73:
Just saw it on Foxy news. It's recession time boys. No it's not

Oh shit I forgot, everything is fine, and we need an economics class. Yes you do





Link Posted: 6/6/2008 4:44:24 AM EST
Everything is fine. The jobs that are being lost are non-essential jobs that foreigners can do cheaper. It's a good thing, globalism.
Link Posted: 6/6/2008 4:45:11 AM EST
isnt 5.5% still relatively low?
Link Posted: 6/6/2008 4:45:40 AM EST

Originally Posted By Matt_The_Hokie:
isnt 5.5% still relatively low?



Compared the the 70's yes
Link Posted: 6/6/2008 4:46:54 AM EST
[Last Edit: 6/6/2008 4:47:34 AM EST by sixgunsblazing]
OMG!
it went from 5% unemployment to 5.5%

OMGWTF OH Teh NOES!!!





Link Posted: 6/6/2008 4:49:11 AM EST
[Last Edit: 6/6/2008 4:52:11 AM EST by JIMBEAM]

Originally Posted By patriot73:

Originally Posted By Matt_The_Hokie:
isnt 5.5% still relatively low?



Compared the the 70's yes


Don't you mean compared to the 70's, 80,s and early 90's.

If you want to see a problem look at Europe's rate.

Link

IF you really want to see a recession or depression let the dems raise taxes on fuel and implement a carbon tax on business.



Link Posted: 6/6/2008 4:50:38 AM EST

Originally Posted By JIMBEAM:

Originally Posted By patriot73:

Originally Posted By Matt_The_Hokie:
isnt 5.5% still relatively low?



Compared the the 70's yes


Don't you mean compared to the 70's, 80,s and early 90's.

If you want to see a problem look at Europe's rate.



Yeah, 70's 80's and early 90's were rosey times. Eurpoepean governments meddle far more into the private sector that our gubment does (yet) and that could be to blame.
Link Posted: 6/6/2008 4:53:49 AM EST
How does our country calculate unemployment?

Does it count every unemployed person?

Does it count every unemployed person who is looking for work?

Does it count people who are getting unemployment checks?

Does it count people who are unemployed but aren't getting unemployment checks?

Does it count people who should be employed in a certain job at a certain rate (professional, college educated, construction, etc) but have to work at McDonalds as there is no employment for them in those fields?



Originally Posted By JIMBEAM:
Don't you mean compared to the 70's, 80,s and early 90's.

If you want to see a problem look at Europe's rate.

Link Posted: 6/6/2008 4:54:55 AM EST

Originally Posted By patriot73:

Originally Posted By JIMBEAM:

Originally Posted By patriot73:

Originally Posted By Matt_The_Hokie:
isnt 5.5% still relatively low?



Compared the the 70's yes


Don't you mean compared to the 70's, 80,s and early 90's.

If you want to see a problem look at Europe's rate.



Yeah, 70's 80's and early 90's were rosey times. Eurpoepean governments meddle far more into the private sector that our gubment does (yet) and that could be to blame.



I think you missed the point or my sarcasm meter is broken. Unemployment was much worse then. 5.5% isn't that bad.
Link Posted: 6/6/2008 4:57:25 AM EST

Originally Posted By JIMBEAM:

Originally Posted By patriot73:

Originally Posted By JIMBEAM:

Originally Posted By patriot73:

Originally Posted By Matt_The_Hokie:
isnt 5.5% still relatively low?



Compared the the 70's yes


Don't you mean compared to the 70's, 80,s and early 90's.

If you want to see a problem look at Europe's rate.



Yeah, 70's 80's and early 90's were rosey times. Eurpoepean governments meddle far more into the private sector that our gubment does (yet) and that could be to blame.



I think you missed the point or my sarcasm meter is broken. Unemployment was much worse then. 5.5% isn't that bad.


I think you missed my point that things are not yet that bad, but bad and getting worse and will continue to spiral down until we see a gas price and hosing market correction.

With some of you guys, it won't be until people are eating tree roots that you acknowledge that you are wrong and have been wrong.
Link Posted: 6/6/2008 4:59:30 AM EST
Link Posted: 6/6/2008 5:02:25 AM EST
5.5% is not bad. Look up "natural rate of unemployment".

Link Posted: 6/6/2008 5:02:44 AM EST

Originally Posted By patriot73:

Originally Posted By JIMBEAM:

Originally Posted By patriot73:

Originally Posted By JIMBEAM:

Originally Posted By patriot73:

Originally Posted By Matt_The_Hokie:
isnt 5.5% still relatively low?



Compared the the 70's yes


Don't you mean compared to the 70's, 80,s and early 90's.

If you want to see a problem look at Europe's rate.



Yeah, 70's 80's and early 90's were rosey times. Eurpoepean governments meddle far more into the private sector that our gubment does (yet) and that could be to blame.



I think you missed the point or my sarcasm meter is broken. Unemployment was much worse then. 5.5% isn't that bad.


I think you missed my point that things are not yet that bad, but bad and getting worse and will continue to spiral down until we see a gas price and hosing market correction.

With some of you guys, it won't be until people are eating tree roots that you acknowledge that you are wrong and have been wrong.


Lighten up Francis.

Eat tree roots? Right.......


Link Posted: 6/6/2008 5:03:08 AM EST
I live in a pretty small town that only has a once-a-week newspaper. This week there were two+ pages of help wanted ads in the classified section.
Link Posted: 6/6/2008 5:03:14 AM EST

Originally Posted By stockshift:
5.5% is not bad. Look up "natural rate of unemployment".



or check my link.

Link Posted: 6/6/2008 5:03:49 AM EST

Originally Posted By JIMBEAM:

Originally Posted By stockshift:
5.5% is not bad. Look up "natural rate of unemployment".



or check my link.



Nein, I will not be Rick Rolled again!!!!!!!

Link Posted: 6/6/2008 5:04:19 AM EST
[Last Edit: 6/6/2008 5:46:10 AM EST by Bubbles]

Originally Posted By Dance:
Everything is fine. The construction jobs that are being lost are non-essential jobs that foreigners can do have been doing cheaper. It's a good thing, globalism.


Fixed it for you.

Seriously, that is one problem with comparing today's numbers with those from the 70's and 80's. The jobs that illegals have been taking for cash over the last few years aren't counted, as they're not filing for unemployment (employer never paid benefits on them). So, the real number of jobs lost has been higher, they're just not tracked.
Link Posted: 6/6/2008 5:08:26 AM EST

Originally Posted By Bubbles:

Originally Posted By Dance:
Everything is fine. The construction jobs that are being lost are non-essential jobs that foreigners can do have been doing cheaper. It's a good thing, globalism.


Fixed it for you.

Seriously, that is one problem with comparing today's numbers with those from the 70's and 80's. The jobs that illegals have been taking for cash over the last few years aren't counted, as they're not filing for unemployment (employer never paid benefits on them). So, the real number of jobs lost has been higher, they're just not tracked.



Bingo! Babyboomers believe everything is relevant to what they know. They have zero concept of the world changing around them. As a builder who NEVER employed illegals I and many others got railroaded by the change in labor laws this years, no more 1099's because the recipients (Mexicans) weren't matching up with the 1096's. In my business, it is more common that they have fraudulent SS numbers then no numbers at all.
Link Posted: 6/6/2008 5:29:54 AM EST
ahhh, I guess this is clintons fault, or obamas and he isnt even in office yet, the executive admin.
Link Posted: 6/6/2008 5:42:07 AM EST
I refuse to partcipate in recessions, never have never will
Link Posted: 6/6/2008 5:46:41 AM EST

Originally Posted By AssaultRifler:
I refuse to partcipate in recessions, never have never will


best quote ever, best icon ever
Link Posted: 6/6/2008 5:51:30 AM EST

Originally Posted By patriot73:

Originally Posted By gonzo_beyondo:
Yay!!



Don't worry...

<­BR>
OBLAMA GONNA SAVES US!!1!



I'm not worried at all, according the arfcom economic expert league, everything is fine!



Dont let your heart be troubled patriot73 just move to a better area.
Link Posted: 6/6/2008 5:52:49 AM EST

Originally Posted By GrIlLa:

Originally Posted By patriot73:

Originally Posted By gonzo_beyondo:
Yay!!



Don't worry...

<­BR>
OBLAMA GONNA SAVES US!!1!



I'm not worried at all, according the arfcom economic expert league, everything is fine!



Dont let your heart be troubled patriot73 just move to a better area.



Definately in the long term plans.
Link Posted: 6/6/2008 5:59:55 AM EST
Obviously, some of the youngn's on this site have never experienced anything but economic boom times. (The last 25 years)

Unemployment at 5.5%? Ha! That's still boom times.
Link Posted: 6/6/2008 6:04:51 AM EST

Originally Posted By patriot73:

Originally Posted By Matt_The_Hokie:
isnt 5.5% still relatively low?



Compared the the 70's yes


Don't they consider that pretty much full employment? The 5.5% is the welfare tit suckers and lazy asses.
Link Posted: 6/6/2008 6:06:19 AM EST
So 94.5% of the people have a job and i'm supposed to believe the sky is falling?
Link Posted: 6/6/2008 8:35:29 AM EST

Originally Posted By sixgunsblazing:
OMG!
it went from 5% unemployment to 5.5%

OMGWTF OH Teh NOES!!!







Like a missing nail in the shoe of a race horse. Like a clock that loses only 5 minutes per day.

If you don't have perspective, small numbers seem insignificant.
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