OK, a little over the top, but, you know that is the thought going through the vacuous heads of liberals everywhere
Employers throttled back on layoffs in July, cutting just 247,000 jobs, the fewest in a year, and the unemployment rate dipped to 9.4 percent, its first decline in 15 months.
It was a better-than-expected showing that offered a strong signal that the recession is finally ending.
The new snapshot, released by the Labor Department on Friday, also offered other encouraging news: workers’ hours nudged up after sinking to a record low in June, and paychecks grew after having fallen or flat lined in some cases.
To be sure, the report still indicates that the jobs market is on shaky ground. But the new figures were better than many analysts were expecting and offered welcomed improvements to a part of the economy that has been clobbered by the recession.
Isn’t that special? Only 247,000 jobs lost. I wonder how the AP handled something similar, via Gina Cobb?
The nation’s unemployment rate shot up to 6.4 percent in June, the highest level in more than nine years, in an economic slump that has added nearly a million people to jobless rolls in the past three months.
Businesses slashed 30,000 jobs in June for the fifth straight month, with cuts heavily concentrated in the nation’s factories, the Labor Department reported Thursday.
Oh, wait, it really isn’t similar. It’s been a long time since I had math class, but, if memory serves, 9.4>6.4 and 247K>30K. The rest of the article was just as hysterical and over the top. Back to the current article
“There’s clearly been a turn for the better. The worst is behind us in terms of layoffs. Now we need to see more hiring,” said economist Ken Mayland, president of ClearView Economics.
247,000 lost is a turn for the better? Maybe in Liberal World, but, in Reality Land, we are all wondering what the Generational Theft Act, along with all the other insane Democrat policies are actually accomplishing.
An elevated unemployment rate could become a political liability for President Barack Obama when congressional elections are held next year. The last time the unemployment rate topped 10 percent, the party of the president — then Ronald Reagan’s GOP — lost 26 House seats in the midterm elections in 1982.
Obama has urged Americans to be patient and give time for his $787 billion stimulus package of
And that is what it is all about: protecting President Neophyte.
PS: the Yahoo News version of this story has an interesting permalink: http://news.yahoo.com/s/ap/20090807/ap_on_bi_go_ec_fi/us_economy?suck_it
Double PS: over at Ace Of Spades, Slublog writes
It’s great to see the bleeding slow, but I wish the reason for it were different. Basically, unemployment went down because the rate of layoffs slowed; employment did not increase. People are not getting hired, they’re just getting fired in lesser numbers.
Yay?
Exactly.
Crossed at Right Wing News and Stop The ACLU
NasDaq is up 33% since Obama became our POTUS The DOW has been soaring it is now at 9400, which is about 17% higher than when he became POTUS AND about 45% higher than when it bottomed out at 6500 6 weeks after he took over and not long after the stimulus was passed. That job loss was the best in 15 months. Teach maybe you have forgotten that under your Dear Leader the Dow fell 20% from when he took over and before he left.
* The unemployment rate going down ?
* The stock market is moving up ?
* Economist predicting that the recession is coming to an end?
* Banks starting to lend to each other again ?
* Home sales are rising in some parts of the US ?
Does that prove that Obama’s economic policies are working!!
Don’t bet on it!!
Remember these events just a short year ago…..
* The collapse of Countrywide,Ameriquest, Indymac Bank
* Federal takeover of Fannie Mae and Freddie Mac,
* The propose a $700 billion emergency bailout TARP program
* Washington Mutual seized by the Federal Deposit Insurance Corporation,
* The Dow Jones Industrial Average caps its worst week ever with its highest volatility day ever recorded in its 112 year history
* Lehman Brothers collapses
* The US Federal Reserve lends $85 billion to American International Group (AIG) to avoid bankruptcy.
* The US government agrees to rescue Citigroup
* Economists start talking about a second great depression
* The collapse of….excuse me? hmmm….you sure…oh…
Ah, Excuse me….
That all took place under the Bush administration?!
…..Never mind.
“We have hit bottom and are on the upswing.â€
Anyone want to note that saying? Heard that one before? How about this one:
“Definite signs that business and industry have turned the corner from the temporary period of emergency that followed deflation of the speculative market were seen today.â€
Sound familiar?
Those are both statements of the Hoover administration, made in late 1929, before the Great Depression got into full swing.
Wow…. the astroturfers are out in force today.
“There’s clearly been a turn for the better. The worst is behind us in terms of layoffs.”
There’s still a few hundred thousand more layoffs coming in the auto industry alone. So based on the above prediction, I’d highly recommend stearing clear of “ClearView Economics!”
“NasDaq is up 33% since Obama became our POTUS The DOW has been soaring it is now at 9400, which is about 17% higher than when he became POTUS AND about 45% higher than when it bottomed out at 6500 …”
That should tell you a number of things, one of which, is that the market is rising too fast. There are always bull-runs in bear markets. This is nothing new. There’s nothing here to be excited about.
Businesses aren’t suddenly booming and making loads of cash again, which means earnings aren’t rising as fast as the market either. Corporate earnings are the basis of stock value. Yes, they can trade all over the place, but just like water, they seek their own level – earnings.
Ah, Excuse me…That all took place under the Bush administration?
Yeah, but so what? The game isn’t between us … it’s us vs. them!