U.S. Unemployment Rate Drops to Lowest Since December 2008

[Steven Douglas]

I find it interesting that because I have a different view on the issues I am automatically here for some nefarious scheme.

::: spitting out the idiotic words you put in my mouth :::

Once again there's the attempt to frame what I said as somehow being about the mere fact that you have or express a different view. Wouldn't that be fun to debate instead? Why, that would be so easy to knock out of the park, wouldn't it?

Three strikes, you're now being obtuse. Go back and reread, this time applying whatever comprehension and critical thinking skills you have to what I actually wrote. (Hint: part of it starts with "There's nothing wrong with contrary opinions...")

[Pauls' Revere]

Uh...I dont think so. people have stopped looking so are not counted.

http://finance.yahoo.com/blogs/the-e...165711644.html

Workers Are Discouraged

In the weakest recovery since the Great Depression, most of the reduction in unemployment from its 10.0 percent peak in October 2009 has been accomplished through a significant drop in the percentage of adults working or looking for work. Were adult labor-force participation the same today, the unemployment rate would be 9.7 percent.

Adding more than 8 million part-time workers who can't find full-time work, the unemployment rate becomes 14.4 percent. It rose above 14 percent in the wake of the financial crisis and remains stuck there.

Convincing millions of Americans they don't want a job or compelling desperate workers to settle for part-time work has been the Obama Administration's most effective jobs program.

and this part bears repeating...

Adding more than 8 million part-time workers who can't find full-time work, the unemployment rate becomes 14.4 percent. It rose above 14 percent in the wake of the financial crisis and remains stuck there.

[Pauls' Revere]

Is a Solution Even Possible?

The economy would have to add about 12.8 million jobs over the next three years—about 356,000 each month—to bring unemployment down to 6 percent. That would require GDP growth in the range of 4 to 5 percent.

Without better regulatory and trade policies, it is simply not possible to accelerate growth, create enough jobs and bring down federal deficits—all at the same time.

http://finance.yahoo.com/blogs/the-e...165711644.html

[oyarde]

Unemployment should start to rise , ea month , for the first 6 months of next yr.

[angelatc]

Yeah, I think that the number of part-time workers is going to rise, if for no other reason than Obamacare.

[jclay2]

Lol Jordan

This trolling exercise of yours is really getting funny. Next.thing you will be telling me.that government inflation numbers are overstated.

[John F Kennedy III]

Lol Jordan

This trolling exercise of yours is really getting funny. Next.thing you will be telling me.that government inflation numbers are overstated.

Inflation is a natural phenomenon.

[Pauls' Revere]

In this economy, consumer debt is at AN ALL TIME HIGH !

http://finance.yahoo.com/news/us-con...--finance.html



WASHINGTON (AP) — Americans swiped their credit cards more often in October and borrowed more to attend school and buy cars. The increases drove U.S. consumer debt to an all-time high.

The Federal Reserve said Friday that consumers increased their borrowing by $14.2 billion in October from September. Total borrowing rose to a record $2.75 trillion.

Borrowing in the category that covers autos and student loans increased by $10.8 billion. Borrowing on credit cards rose by $3.4 billion, only the second monthly increase in the past five months.

The strong rise in borrowing came in a month when Americans cut back on consumer spending, reflecting in part disruptions from Superstorm Sandy.

Many consumers may also have scaled back because of fears about the "fiscal cliff." That's the name for automatic tax increases and spending cuts that will take effect in January if Congress and the Obama administration fail to strike a budget deal by then.

Consumer spending drives roughly 70 percent of economic activity.

Economists think that it could bounce back in November. But the underlying trend remains weak because with unemployment remaining high, households don't have the incomes to spend.

Many consumers have been reluctant to build up credit card debt, which typically carries steeper interest rates than other loans.

Credit card usage has fallen sharply since the 2008 credit crisis. Four years ago, Americans had $1.03 trillion in credit card debt, an all-time high. In October, that figure was 17 percent lower.

During the same period, student loan debt has increased dramatically. The category that includes auto and student loans is 22 percent higher than in July 2008. That reflects in part the fact that many Americans who have lost jobs decided to go back to school to get training for new careers.
.

[Steven Douglas]

In this economy, consumer debt is at AN ALL TIME HIGH !

Awesome. Since debt is considered money, that means consumers have lots and lots more money.

[Tpoints]

Awesome. Since debt is considered money, that means consumers have lots and lots more money.