bobbyw24
09-03-2011, 05:05 AM
Black unemployment: Highest in 27 years
NEW YORK (CNNMoney) -- The August jobs report was dismal for plenty of reasons, but perhaps most striking was the picture it painted of racial inequality in the job market.
Black unemployment surged to 16.7% in August, its highest level since 1984, while the unemployment rate for whites fell slightly to 8%, the Labor Department reported.
http://i2.cdn.turner.com/money/2011/09/02/news/economy/black_unemployment_rate/chart-black-unemployment.top.gif
__________________________________________________ ________________________________
PETER SCHIFF
This morning many on Wall Street were stunned by the big fat zero put up by the August jobs report, the worst showing in 11 months. The data convinced many previously optimistic economists that the United States will slip back into recession. I believe that we have been in one giant recession all along that was only temporarily interrupted by trillions of useless and destructive deficit and stimulus spending. Unfortunately, the August numbers will increase the talk of government efforts to stimulate the economy.
But while President Obama prepares to unveil a new plan for the Federal Government to create jobs, evidence is rapidly piling up on how his Administration is actively destroying jobs with stunning efficiency. Recent examples of this trend are enough to make anyone with even a casual respect for America’s former economic prowess hang their head in disgust.
http://lewrockwell.com/schiff/schiff135.html
NEW YORK (CNNMoney) -- The August jobs report was dismal for plenty of reasons, but perhaps most striking was the picture it painted of racial inequality in the job market.
Black unemployment surged to 16.7% in August, its highest level since 1984, while the unemployment rate for whites fell slightly to 8%, the Labor Department reported.
http://i2.cdn.turner.com/money/2011/09/02/news/economy/black_unemployment_rate/chart-black-unemployment.top.gif
__________________________________________________ ________________________________
PETER SCHIFF
This morning many on Wall Street were stunned by the big fat zero put up by the August jobs report, the worst showing in 11 months. The data convinced many previously optimistic economists that the United States will slip back into recession. I believe that we have been in one giant recession all along that was only temporarily interrupted by trillions of useless and destructive deficit and stimulus spending. Unfortunately, the August numbers will increase the talk of government efforts to stimulate the economy.
But while President Obama prepares to unveil a new plan for the Federal Government to create jobs, evidence is rapidly piling up on how his Administration is actively destroying jobs with stunning efficiency. Recent examples of this trend are enough to make anyone with even a casual respect for America’s former economic prowess hang their head in disgust.
http://lewrockwell.com/schiff/schiff135.html