Unemployment reaches 9.5%

[LittleNemoNES]

The pace of job losses quickened in June after slowing just a month earlier, casting a shadow over the Obama administration?s attempts to stanch months of declines in the labor market.

nytimes

This is really worrisome. At first I thought we had shaken off Great Depression-like soup kitchens but now I'm thinking that if something drastic doesn't happen, we could eventually get there.

Most of the men I know are unemployed (construction, etc) and are self-employed; I don't think they are reflected in the 9.5% so realistically this number could be MUCH higher.

 

[Vette73]

Its seems to be getting better in some parts but employement is one of the last things that changes when you have a upturn. So looking at it is not a good idea if we are getting better or not. By the time it starts to come down you pretty much know things are better.

 

[SammyJr]

After shock from the bank collapses. That's what happens when you let unregulated mortgage brokers make shitty loans and package them as top notch securities.

We're still building around here and the homes are selling before they're done, but then our local banks and credit unions aren't run by complete shitheads.

 

[Squisher]

14.1% in Michigan

 

[Deleted member 4644]

We are in deep trouble. It will get worse.

 

[StageLeft]

Best graph EVER

 

[Genx87]

Originally posted by: Skoorb
Best graph EVER

To quote Joe Biden "We guessed wrong".
To quote Obama "We didnt realize we were in as bad of shape as we were in Feb".

Sure instills a sense of confidence in me, does it in you?

 

[StageLeft]

Originally posted by: Genx87

Originally posted by: Skoorb
Best graph EVER

To quote Joe Biden "We guessed wrong".
To quote Obama "We didnt realize we were in as bad of shape as we were in Feb".

Sure instills a sense of confidence in me, does it in you?

Yeah lots. Like Bernanke and Paulson who didn't see any of this coming now trying to solve it, it's fantastic. Last Feb Bernanke was still talking about the possibility of avoiding a recession and here we are in the worst one in our lifetimes (even the old members). Great stuff.

 

[Rebel44]

Real unemloyment is higher than 9.5%

U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force....................... 5.1 %

U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force.... 6.2 %

U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate).......... 9.5 %

U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers............................... 10.0 %

U-5 Total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers....................... 10.8 %

U-6 Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.. 16.5 %

 

[Andrew1990]

buu buu buuut Obama said it wouldnt get this high with the stimulous. Just goes to show you we are fucked.

 

[Specop 007]

Man, good thing Obama spent those billions upon billions upon billions. Imagine how bad it would be if we had thrown some 2 trillion down the fucking hole! :disgust:

 

[StageLeft]

Originally posted by: Specop 007
Man, good thing Obama spent those billions upon billions upon billions. Imagine how bad it would be if we had thrown some 2 trillion down the fucking hole! :disgust:

No need to imagine. The graph tells us unemployment would be at about 8.2%.

 

[Lemon law]

Everyone seems to be missing the point, the last time we were in a similar situation, when Hoover was running things and did basically nothing to arrest the slide, unemployment went up rapidly and quickly hit 25%.

Skoorb's graph is just a wild guess and no one knows where unemployment would be now if Obama and congress had not taken the steps they did. But I certainly feel unemployment would be much higher if he did not.

 

[Specop 007]

Originally posted by: Skoorb

Originally posted by: Specop 007
Man, good thing Obama spent those billions upon billions upon billions. Imagine how bad it would be if we had thrown some 2 trillion down the fucking hole! :disgust:

No need to imagine. The graph tells us unemployment would be at about 8.2%.

Right but the graph was made before they knew how bad it really was. Obviously when you distribute propaganda it absolutely has to support your positions and actions. The graph you posted does not, so we can simply consider it flawed and await more updated propaganda justifying the wealth redistribution done thus far.

 

[Suspicious-Teach8788]

Originally posted by: Rebel44
Real unemloyment is higher than 9.5%

U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force....................... 5.1 %

U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force.... 6.2 %

U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate).......... 9.5 %

U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers............................... 10.0 %

U-5 Total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers....................... 10.8 %

U-6 Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.. 16.5 %

where do you get this?

 

[OCGuy]

Millions of saved and created jobs!



Fuck the "stimulus."

 

[OutHouse]

didnt Team Obama say we would never reach 10% unemployment?

 

[Hacp]

Originally posted by: Citrix
didnt Team Obama say we would never reach 10% unemployment?

No, he said that we would be at 10% if the stimulus didn't pass. Well it passed and it looks like it didn't work.

 

[dyna]

1. Housing tax credit
2. Energy tax credit
3. Cash for clunkers
4. Cap and trade energy tax

404, job creation not found.

 

[bamacre]

Originally posted by: Lemon law
Everyone seems to be missing the point, the last time we were in a similar situation, when Hoover was running things and did basically nothing to arrest the slide, unemployment went up rapidly and quickly hit 25%.

Hoover did "basically nothing?"

Some might disagree with you.

Maybe instead you meant Harding?

 

[Drako]

Originally posted by: dyna

1. Housing tax credit
2. Energy tax credit
3. Cash for clunkers
4. Cap and trade energy tax

404, job creation not found.

I can't wait to see all the jobs that will be created when UHC kicks in.

 

[Hacp]

Originally posted by: Drako

Originally posted by: dyna

1. Housing tax credit
2. Energy tax credit
3. Cash for clunkers
4. Cap and trade energy tax

404, job creation not found.

I can't wait to see all the jobs that will be created when UHC kicks in.

I'm guessing millions of jobs will be saved.

 

[Rebel44]

Originally posted by: DLeRium

Originally posted by: Rebel44
Real unemloyment is higher than 9.5%

U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force....................... 5.1 %

U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force.... 6.2 %

U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate).......... 9.5 %

U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers............................... 10.0 %

U-5 Total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers....................... 10.8 %

U-6 Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.. 16.5 %

where do you get this?

Bureau of Labor Statistics
http://www.bls.gov/news.release/empsit.t12.htm

 

[senseamp]

Originally posted by: Skoorb
Best graph EVER

Most economist agree that without the recovery plan, the "actual" part would be a hell of a lot worse.

 

[PrinceofWands]

When you hit 15% let me know...that's what we've been at for months.