63,000 jobs lost this month ~ Bush says: "it's clear our economy has slowed"

[Ex Post Facto]

http://news.yahoo.com/s/ap/20080307/ap_on_go_pr_wh/bush_economy

Video: http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=6849773&ch=4226720&src=news

[Cowlesy]

He also goes on to say how he signed the stimulus package into law, and he's expecting Americans to spendspendspend!

[OptionsTrader]

The President is so wise that I believe everything he says, without question.

[Ex Post Facto]

Considering last month he said there will be no recession. I find it funny, as I have been in default payment on my morgage for nearly 6 months, and the banks have yet to even warn me, or start foreclosure. It's almost like there are millions doing the same thing and they are hiding the true real estate morgage crisis by not reporting it. Also, after being laid off, I've not been able to find a job outside of something that pays $10 an hour of which I'm told I'm overqualified to be hired. So here I am, college educated, management for over 10 years out of work.

[Sarge]

My heart goes out to you.

I do believe you are right on bigger numbers then we suspect. I noticed this am. 1,586 notices of default filed in the last 5 days in Phoenix.

With your skills you might want to check out Bed Bath and Beyond. My son works for them and they are great. If they have stores in your area you might want to check them out. The company has no debt and only opens a store when they pay for the store.

If you can get in the door, there is a lot of potential. Our son is a loss prevention manager over 16 stores. He is now the happiest I have ever seen him.

They will go through the rough time, with no debt, much better. Linens N Things just had their bonds rated junk and I think they are looking to put them out of business. My opinion.

I encourage you to talk to your loan company, and try to work out some deal so you don't get a bad credit rating as BBBY does check for any problems in hiring. If you have any equity they might be glad to try and work something out until you get a job.

At any rate, just my thoughts.

Best of Luck in finding a job soon.

[Acala]

According to the Austrian school, manufacturers and retailers of consumer goods don't get hurt as badly in economic downturns as other sectors. So a place like bed bath and beyond might be pretty good. Plus it smells good! And there are lots of soft places to curl up for a nap. And lots of women shop there. Hey! Maybe I need to go work there!

[Sarge]

Funny,

Forget the nap. If you are good, you are going to move up fast and not have time for a nap.

You are right they will not hurt as bad as they have no debt. They have so much cash they will survive. They are going head to head with LIN who's home office is in Canada.

BBBY is just opening their first store in Canada to go toe to toe with them.

[torchbearer]

Considering last month he said there will be no recession. I find it funny, as I have been in default payment on my morgage for nearly 6 months, and the banks have yet to even warn me, or start foreclosure. It's almost like there are millions doing the same thing and they are hiding the true real estate morgage crisis by not reporting it. Also, after being laid off, I've not been able to find a job outside of something that pays $10 an hour of which I'm told I'm overqualified to be hired. So here I am, college educated, management for over 10 years out of work.

I've been in the same situation actually.. I've started my own computer business and its slowly starting to pick up.
I also help out my mother with her restaurant.

But there are probably many in our position... that is the destruction of the middle class.

[Ex Post Facto]

I've been in the same situation actually.. I've started my own computer business and its slowly starting to pick up.
I also help out my mother with her restaurant.

But there are probably many in our position... that is the destruction of the middle class.

Yeah I have started my own business as well, as a result of this. I'm still looking for an actual employer unless the home business picks up enough.

[Sarge]

Your home business will not last long, if they foreclose on your house.

Check out what I suggested. Try to deal with your loan company and get an application in the works to see what happens. Cover your bases as time is running out from what you describe.

Don't hide your head in the sand. Cover all the bases at once. You still have a chance that way.

[icon124]

Considering last month he said there will be no recession. I find it funny, as I have been in default payment on my morgage for nearly 6 months, and the banks have yet to even warn me, or start foreclosure. It's almost like there are millions doing the same thing and they are hiding the true real estate morgage crisis by not reporting it. Also, after being laid off, I've not been able to find a job outside of something that pays $10 an hour of which I'm told I'm overqualified to be hired. So here I am, college educated, management for over 10 years out of work.

Stop me any time if me asking you these questions gets to personal, but I want to get a bigger understanding of college graduates going through this right now...mainly because I'm graduating in one more semester.

What was your degree, and who did you work for?
Were you in debt when you purchased your house? If not what percentage of liquid assets did you own when you compare it to the value of your home at the time of purchase.
Also, just curious...what kind of business did you start?

[HOLLYWOOD]

I know so many people out of work now, I KNOW, the US government is LYING on the FIGURES! Also, check how much of the unemployment insurance funds are being drained and how many have used the maximum unemployment amount and are headed to welfare.

HERE'S THE BREAKOUT ON THE EMPLOYMENT NUMBERS Per CNBC report:

Manufacturing Losses: 52,000

Construction Losses: 39,000

Retail Trade Losses: 34,000

Government Hires: 38,000 <=== liability (non productive)

Health Care Hires: 36,000

MISC Hires: 21,000

US Labor Dept EXCLUDES all unemployed people that have expired UNEMPLOYMENT INSURANCE (UNEMPLOYED <== DUH!)

US Labor INCLUDE ALL government EMPLOYMENT/HIRINGS (LIABILITY to TAXPAYERS/BUDGET DEFICITS, NON PRODUCTIVE, ETC <== DUH!)

Here's the US Labor Dept REVISED

Oops, we made BIG MISTAKES COUNTING - FEDERAL GOVERNMENT LABOR/PR PROPAGANDA CRAP...LOOK AT THE FOLLOWING:

December 2007 LABOR STATS:

Originally: 82,000 NEW JOBS REVISED DOWNWARD to 41,000 HALF!

January 2008 LABOR STATS:

Originally: LOSS 17,000 Revised Downward to a job LOSS 21,000

4 straight MONTHS of DECLINES in EMPLOYMENT figures! Remember, all those who have expired the maximum amount of unemployment insurance and can no longer collect, are REMOVED FROM THE UNEMPLOYMENT FIGURES!

PS: The US Military employment totals of ALL branches are included in the EMPLOYMENT FIGURES

[seapilot]

If bush ran a lemonade stand he would be selling overpriced yellow colored flouridated tap water as freshly squeezed lemons from his daddys orchard.

[jkm1864]

Yeah Bush I'll go out and spend the money or I might lock it in my safe. I hate to say if I spend it it won't be what You people have in mind. Oh but wait You should be proud of me because i'll spend it where You blow all of our money.

[DrCap]

You guys might find this link interesting, he's predicting that the actual job loss in feb was closer to at least 200k and could be as much as 2.5 million.

http://www.investorsinsight.com/thoughts.aspx

He took charts from Gary North, who wrote here recently http://www.lewrockwell.com/north/north611.html

[Cowlesy]

You guys might find this link interesting, he's predicting that the actual job loss in feb was closer to at least 200k and could be as much as 2.5 million.

http://www.investorsinsight.com/thoughts.aspx

He took charts from Gary North, who wrote here recently http://www.lewrockwell.com/north/north611.html

John Mauldin always has interesting insights.

I subscribe to his newsletter and read it every Saturday morning.

[liberteebell]

I know so many people out of work now, I KNOW, the US government is LYING on the FIGURES! Also, check how much of the unemployment insurance funds are being drained and how many have used the maximum unemployment amount and are headed to welfare.

I too know a whole lot of people out of work, and not by choice. Some of those have been out of work for a while. Those who have gotten jobs are working for way less pay or hours than their previous job and are usually NOT working in their chosen field.

I agree with you. The government is not telling us the truth.

[wirenut]

I work in the construction field and I seeing a lot companies that work with are really getting slow and slowly having to lay off a lot of people. The company I currently work for is also slowing. This don't look to good at the moment. I'm afraid if things get to bad I'll end up without a job soon.

[RSLudlum]

Do those figures just represent legal american citizens' job losses, or do they also include the illegal immigrant job losses also?? And how could we be able to differentiate?

[IChooseLiberty]

Do those figures just represent legal american citizens' job losses, or do they also include the illegal immigrant job losses also?? And how could we be able to differentiate?

Seriously! They have to be the ones hit the hardest... They've been building all of these houses.