U.S. unemployment rate hits a five-year high

[4dmin]

http://www.msnbc.msn.com/id/26558445

The jobless rate jumped to 6.1 percent in August, from 5.7 percent in July. And, employers cut payrolls for the eighth month in a row. Job losses in June and July turned out to be much deeper. The economy lost a whopping 100,000 jobs in June and another 60,000 in July, according to revised figures. Previously, the government reported job losses at 51,000 in each of those months.So far this year, job losses totaled 605,000.

discuss.

[Sport1.3]

What lazy bums

[Mike Lowrey]

Discuss...

[4dmin]

looks like Bushes are pretty used to screwing up the US by your graph

hasn't been this high since 94'

[okra1981]

George H. Bush left it the highest it had been in about eight years and Clinton knocked it down to the lowest it was in the entire 27 year period. I wonder why I'm such a Democrat now, hmm.

[Motivation]

Yeah, those of us who are lucky enough to have a job should be thankful! My brother just got laid off today. Been with his company four years, and he has a 2 1/2 year old son... It's hard out there.

[4dmin]

that's all more a reason not to vote McCain . I got laidoff last nov best of luck to him

[Vteckidd]

Man you guys dont know how to read sh!t

Instead of just going by numbers you hear on the news, why not do some research into what it ACTUALLY MEANS.

In a capitalist society, 95% of the people working is near PERFECT. We have been around the number for the last 15 years.

6.1% Unemployed is not a BAD NUMBER, whats bad is that it wasnt the 5.8% they were expecting.

It has NOTHING to do with BUSH. It has EVERYTHING to do with retail sales tanking in the last 2 months because people arent spending any money with gas prices so high an the housing market sucking a$$

You gonna blame Hurricane IKE on Bush too?

Anyone hear that Obama is now for offshore drilling? what a backbone he has :lame:

[Vteckidd]

FYI Retail Sales make up roughly 70% of our economy

[BTLFED]

Man you guys dont know how to read sh!t

Instead of just going by numbers you hear on the news, why not do some research into what it ACTUALLY MEANS.

In a capitalist society, 95% of the people working is near PERFECT. We have been around the number for the last 15 years.

6.1% Unemployed is not a BAD NUMBER, whats bad is that it wasnt the 5.8% they were expecting.

It has NOTHING to do with BUSH. It has EVERYTHING to do with retail sales tanking in the last 2 months because people arent spending any money with gas prices so high an the housing market sucking a$$

You gonna blame Hurricane IKE on Bush too?

Anyone hear that Obama is now for offshore drilling? what a backbone he has :lame:

Oh noes! Sounds like that last democrat that ran!

[alpine_aw11]

Anyone hear that Obama is now for offshore drilling? what a backbone he has :lame:

More like Obama is for ganking some votes on the premise that he's for offshore drilling. He won't do it.

[okra1981]

Didn't the numbers change recently because some people on unemployment gave up last year. I remember a news story that said that the unemployment rate dropped suddenly over a two month period because people in the unemployment line stopped showing up because they didn't see much hope. This caused the unemployment agencies to stopped listing them as unemployed even though new jobs hadn't been created.
All I know is that I can't afford to go to any retail store and buy anything. I have a degree and have been working as a temp for over a year with little hope of doing much better any time soon. The only reason the unemployment rate isn't rising as people lose their jobs here, is that jobs are being created because we can't keep our noses out of war while too many problems are going on here.
Republicans keep talking about a change in Washington, last I checked, that's who got us in the situations we're in now. How can you demand a change in something that you already control? I think the change we need isn't going to come from the same party that goes to China and asks to borrow $7 billion to give the citizens $600 checks that we don't need to spend on Chinese goods that we don't need. Then turns around and asks for more money to spend on a war we don't need. That is why I don't think I'm going to be voting for another Republican to get into office.

[man]

George H. Bush left it the highest it had been in about eight years and Clinton knocked it down to the lowest it was in the entire 27 year period. I wonder why I'm such a Democrat now, hmm.

Because you can't find a job???

[okra1981]

I'm going by the unemployment rates stated by richw131, I support those who support and look out for their people.

[MachNU]

It has NOTHING to do with BUSH. It has EVERYTHING to do with retail sales tanking in the last 2 months because people arent spending any money with gas prices so high an the housing market sucking a$$

Yep! Exaclty it. I work at a dealership, and this time last year i was averaging 90-105 hours a pay check, now i am lucky to see 75 hours a paycheck. And its all becuase people arent buying cars becuase of gas prices. Dont tell me i am wrong, our whole inventory nation wide is made up of 70% SUV, and gas guzlers that no one wants to buy.

But i love how some say that the war is the reason the aconomy is doing so bad. I think of it this way, how many jobs are there in the US that make up positions that make, and or run the factorys that make parts for tanks, hummers, guns, etc? IF we werent at war and didnt need a surplus of these things, wouldnt really the economy be worse? Then since gas would still be controlled by people who dont like us, wouldnt the price still be going up, causing people to spend more money on gas? Then to the point people couldnt afford to go to work, meaning they couldnt make money to pay bills? I mean to me it just seems like a vicous cycle that will never end and no one will be able to change it. Even if Obama wins and the unemployment rate still went up, who would yall blame? Bush still, just say that it was so bad Super Obama couldnt fix it?

[spicyMSP]

Let's not forget the $700 billion that go overseas just for petroleum alone. Oh, and I'm sure everyone can remember 2 years ago when gas was closer to $2/gal. Well, guess who took control of congress 2 years ago?

[Alan®]

Yep! Exaclty it. I work at a dealership, and this time last year i was averaging 90-105 hours a pay check, now i am lucky to see 75 hours a paycheck. And its all becuase people arent buying cars becuase of gas prices. Dont tell me i am wrong, our whole inventory nation wide is made up of 70% SUV, and gas guzlers that no one wants to buy.

But i love how some say that the war is the reason the aconomy is doing so bad. I think of it this way, how many jobs are there in the US that make up positions that make, and or run the factorys that make parts for tanks, hummers, guns, etc? IF we werent at war and didnt need a surplus of these things, wouldnt really the economy be worse? Then since gas would still be controlled by people who dont like us, wouldnt the price still be going up, causing people to spend more money on gas? Then to the point people couldnt afford to go to work, meaning they couldnt make money to pay bills? I mean to me it just seems like a vicous cycle that will never end and no one will be able to change it. Even if Obama wins and the unemployment rate still went up, who would yall blame? Bush still, just say that it was so bad Super Obama couldnt fix it?

X FUCCING 2

[eViLMunkey]

last I checked we were in a recession, so unemployment, wage cuts, and large layoffs should be expected. The news is not making things better by freaking people out by making things seem worse than they are. Other than yeah it sucks but this is a cycle that happens every ten years so far, but last I checked we kinda have been in an economic slump every since Bush Jr. came into office 8 years ago. So which ever candidate gets elected they're not going to be able to fix everything or anything at all, but they might get some positive things put into motion that will pan out 4+ years down the road if they're not re-elected. More than likely if Obama gets into office his tax plans wont be approved since we the tax payers dont want to pay more on our taxes for something we didn't screw up.

Me personally , the client base I deal with is not feeling the economic slow down since they are loaded to begin with. Other than it kinda helps that I work in a field where they are purchasing an investment that will definately have a great economic return in the fairly near future.

[MachNU]

last I checked we were in a recession, so unemployment, wage cuts, and large layoffs should be expected. The news is not making things better by freaking people out by making things seem worse than they are. Other than yeah it sucks but this is a cycle that happens every ten years so far, but last I checked we kinda have been in an economic slump every since Bush Jr. came into office 8 years ago. So which ever candidate gets elected they're not going to be able to fix everything or anything at all, but they might get some positive things put into motion that will pan out 4+ years down the road if they're not re-elected. More than likely if Obama gets into office his tax plans wont be approved since we the tax payers dont want to pay more on our taxes for something we didn't screw up.

Me personally , the client base I deal with is not feeling the economic slow down since they are loaded to begin with. Other than it kinda helps that I work in a field where they are purchasing an investment that will definately have a great economic return in the fairly near future.

Exatly, hell most dont notice, but bush senior did the same economic stimules in 92 just 6 months before he went out of office, within 2 years the economy got way better. Everyone said it was clinton who fixed it, but realy it was bush sr. who put it into motion. Then bush jr does the same thing this year, it would be safe to say that in 2 years the same thing should happen again. Granted then we werent at WAR, but if it does and Obama is in office, guess what, it wouldnt be him who fixed the economy!

[okra1981]

That is like saying that FDR didn't do anything because Wilson had already started Federal work acts in the '20's. You can't say that Clinton did nothing when he was in office and things kept getting better economically while he was in office, and don't get me wrong, I really hated that man in office, he at least had the U.S. in a great situation with foreign relations.
As for the economy being bad, I can't get any overtime now and I work at a warehouse for a jet engine manufacturer, I should be in a situation where I'm turning down overtime. It didn't pick up for the extra travel over the summer or the Olympics, not to mention the jets we supply parts for in the military.

[JITB]

doublepost..

[JITB]

I like how nothing is bush's fault... because you know he doesnt actually run the US or nothin... right?

BUT!! All the previous presidents are the ones that ****ed up everything...... i mean WHAT?

All the other presidents are in control of everything at their time of their presidency but Bush.. you all are a funny group of biased individuals..

[MachNU]

That is like saying that FDR didn't do anything because Wilson had already started Federal work acts in the '20's. You can't say that Clinton did nothing when he was in office and things kept getting better economically while he was in office, and don't get me wrong, I really hated that man in office, he at least had the U.S. in a great situation with foreign relations.
As for the economy being bad, I can't get any overtime now and I work at a warehouse for a jet engine manufacturer, I should be in a situation where I'm turning down overtime. It didn't pick up for the extra travel over the summer or the Olympics, not to mention the jets we supply parts for in the military.

I agree with you, just putting it out there, if you go back and look somethings where done within 6 months of the next president coming into office, Bush Sr --> Clinton, then Bush Jr ---> **** who ever next. Just saying somethings take time to to hold and affect change!

[.::UNKNOWN::.]

i mean every body says it is the presidents fault for everything.... what about the democratic controlled legislative branch.... if i am not mistaken they have to make a decision and then let bush aprove or disaprove it.... all in the checks and balance of government.... which is taught in high school and i went to clayton county schools.....
you want to blame anything for the unemployment rate..... blame it on the hike in minimum wage that just took place in a bruised economy.... you got all these places that are paying people minimum wage bc they are you need the man power but cant afford to pay them anymore..... then the government comes in and says you have to start paying everyone more bc we think you should.... and well the employer goes i can keep them on and take a pay cut just to pay them more orrrrrr i can let a couple of them go and keep the extremly hard worker and give them a great pay raise and come out with more in my pocket....hmmmm 4 guys at 6.00/hr with 2 that bust their ass and 2 that basically comes in and sleep... orrrrr 2 guys that bust their ass getting paid 9.00/hr hell that is 6 dollars cheaper an hr and i got 2 very happy employees that bust their ass.... well that is my 2cents on the issue

[MachNU]

i mean every body says it is the presidents fault for everything.... what about the democratic controlled legislative branch.... if i am not mistaken they have to make a decision and then let bush aprove or disaprove it.... all in the checks and balance of government.... which is taught in high school and i went to clayton county schools.....
you want to blame anything for the unemployment rate..... blame it on the hike in minimum wage that just took place in a bruised economy.... you got all these places that are paying people minimum wage bc they are you need the man power but cant afford to pay them anymore..... then the government comes in and says you have to start paying everyone more bc we think you should.... and well the employer goes i can keep them on and take a pay cut just to pay them more orrrrrr i can let a couple of them go and keep the extremly hard worker and give them a great pay raise and come out with more in my pocket....hmmmm 4 guys at 6.00/hr with 2 that bust their ass and 2 that basically comes in and sleep... orrrrr 2 guys that bust their ass getting paid 9.00/hr hell that is 6 dollars cheaper an hr and i got 2 very happy employees that bust their ass.... well that is my 2cents on the issue

DAM GOOD POINT! i cant believe i forgot about that. Dumbest dam idea ever!

[.::UNKNOWN::.]

DAM GOOD POINT! i cant believe i forgot about that. Dumbest dam idea ever!

rep returned hell they could have read about it on Wikipedia here i will help

Unemployment increases the more the government intervenes into the economy to try to improve the rights of those with jobs. For example, minimum wages raise the cost of labour to above the market equilibrium, resulting in people who wish to work at the going rate but cannot as the wages are higher than their worth to business; unemployment.[8][9] Laws restricting layoffs make businesses less likely to hire in the first place leaving many young people unemployed and unable to find work.[9]

and more

A 2000 survey by Dan Fuller and Doris Geide-Stevenson reports that of a sample of 308 American Economic Association economists, 45.6% fully agreed with the statement, "a minimum wage increases unemployment among young and unskilled workers", 27.9% agreed with provisos, and 26.5% disagreed. The authors of this study also reweighted data from a 1990 sample to show that at that time 62.4% of academic economists agreed with the statement above, while 19.5% agreed with provisos and 17.5% disagreed.[31]

so yeah that is also why mcdonalds dont have a dollar double cheese burger anymore... they have a double hamburger....hell it is a never ending cycle.... minimum wage still has a dollar to go the new law raises it to 7.25 but they did a gradual raise but doin 45 cents first and next year a 1.25 increase .. hell i live alone and i am 23 w/ only a high school education but i got a great job.... i believe you should be paid on how valuable you are to a company not on what the government thinks you should get paid

[.::UNKNOWN::.]

here is moar proof ......
http://www.ncpa.org/ba/ba292.html
http://www.epionline.org/study_detail.cfm?sid=98