Let’s be honest: If you are out of a job and deprived of income is there ANYTHING more important to you than getting a job so you can pay your bills, keep your dreams and stay in your home? I can’t think of any other issue more pressing to most working people. So what IS our government doing about the roots of this recessionary economy?
Workers lost jobs at a faster pace in June than in the prior month, the Labor Department said Thursday. Nonfarm payrolls shrank by 467,000 in June higher than the 325,000 decline expected by economists surveyed by MarketWatch and the 322,000 jobs lost in May. The unemployment rate ticked higher to 9.5% in June from 9.4% in the previous month. Economists had expected the unemployment rate to rise to 9.6%. Average hourly earnings were flat at $18.53. Economists had been expecting a 0.2% gain. Earnings are up 2.7% in the past year. The average workweek fell six minutes to 33.0 hours. Hours worked fell 0.8% LINK
Excuse my doubts about this official number of unemployed. I don’t think it accurately reflects the TRUE number of individuals who are under employed, unemployed (but off the numbers roll), people who are technically working, but in jobs far below their previous income. I think there are a huge number of people who are strung out on credit cards – using them to pay for utilities and groceries while they frantically search for a job. ANY JOB. Folks taking jobs for ten bucks an hour, when their homes and other financial obligations demand ten times that amount to stay solvent. It’s a slippery slope and many are are losing it all. Look around your neighborhood, gym, grocery store. Look at the empty business offices, the vacant retail strips, the number of forclosure signs vs actual “for sale” signs on real estate. I think the REAL number of unemployed is at least 20%.
Our government workers and leaders all have jobs. They have job security and don’t know what it’s like to be without an income. So, they put IOU’s and Health Care decisions well before true jobs stimulus measures. They are insulated. They don’t wake up in the middle of the night with money worries. They don’t suffer the depression and shame of not being able to provide for their families.
BREAKING NEWS: Economy loses 467,000 jobs in June, worse than expected; jobless rate at 9.5%
Jobless rate rises to 9.5 percent
Employers slashed a larger-than-expected 467,000 jobs in June. LINK
Teacher layoffs continue. Post Office layoffs are in the works. Planned IOU’s to state vendors for work already done. Why are companies STILL off-shoring jobs without penalties? Why are credit card rates astronomical and why are the banks unwilling to make loans with all that stimulus money?
When will President Barak Obama and California Govenor Arnold Schwarzenegger focus in on salvaging the middle class workers?
I didn’t say SAVAGING THE MIDDLE CLASS. i SAID SALVAGING THE MIDDLE CLASS. Nothing disappoints me more than our leadership missing the big picture right now. I meant to say I am really PISSED OFF, not just bummed out about this continuing travesty for American workers. There is absolutely no committment to the middle class, outside of Vice President Biden’s sad little middle class task force website where you can complain, but apparently without any true help forthcoming.
Larry & Terry, let me know when the Teabaggers decide that our jobs are number one and will be protesting THAT. I’ll be there!
The fun begins… 10 days ago all small UK banks, and some large ones, gave notice to their US customers, including embassy staff, to take their money elsewhere.
Today Swiss banks gave 30000 Americans living in Switzerland, including embassy staff, 45 day notice to get their money out.
The German banks are working on it too.
In contrast, the Arab Bank (name of the bank) in Paris is getting enormous increase in deposits and investments.
Correct. IRS is asking overseas banks to collect taxes on interest. They have to provide a lot of information and can be sued for inaccuracy by IRS, as well as their customers. Too much work, too much risk and conflicts with their national laws.
Folks, this is what happens when the socialists and third world riffraff gets elected into high government positions including the presidency.
Hmmmmm….Yes and no.
What can the government do to create jobs….. nothing, and everything! As of about 10AM today I am opening a new financial planning firm. Why? Because I think I can provide a better service and advice to my clients, for the same or better costs….and I think I can do it with more money in my pocket at the end of the day. I am driving the economy, and I am not looking to the government to pay my way or help me, I just need them to stay out of my way…thay can do nothing to create economic growth other than remove business restrictions. Period! I have helped stimulate the economy with..Office lease, Some office furniture, New Computers, Phones Fax, Copier, Paper, letterhead, Business cards, computer monitors, internet service, office paint and carpet, business insurance, bank accounts and so on, and so on……
None of this has a guarantee nor can I not Fail….but here is the problem, assuming I do everything right, work really hard, take risks, and make a boatload of money I will be “thanked” be being vilified by the left, and decried as greedy and not paying my “fair share”. Soon I hope to hire an assistant, and for every $10 I have to pay them, it will cost me almost $2 in Social security, unemployment, medical, and payroll taxes….that is not going to help anybody, finally when I got my computer, and monitors I had to pay $15 per unit $45 for the three in order to cover the CA recycling fee…in addition to the sales tax I think the state took in more money in Pure profit than did Best Buy and Frys….and that is not right.
Bigmarkod,
I want to wish you the best of luck on your new endeavor. I wish you much success. Did you need loans for any of those things? If so, did you find banks willing to loan easily, or did you have to do a lot of work to find one?
Stan, do you happen to have any links to support your comments? It seems plausible, but I’d like to read more about your information.
As for me, I DO have a job to do and leave for (will return later). But for many households, there is a great reduction of income because one or multiple household members are not able to secure employment with adequate and expected income as in the past.
These are dark times for American workers and the middle class workforce. – – Rv
It is all over net red one! Here is Bloomberg
This picture tells everything. Our economy is going down the drain. I guess this fellow must’ve spent at least 100k to get a Ph.D. How is he going to pay that amount of money back to his banks when he only gets a surviving monthly wage? Guys, we need to start getting tough with our politicians, just like some people do in other countries. While a Ph.D. guy is begging for food, Bush, the guy who messed up our economy, is playing golf and having a king’s life.
The problem with employment and the economy in general in my view is a result of the credit culture created since the invention of credit.
Everey one was living beyond their means stimulating the economy , providing employment at high wagwes which resulted in high cost of living.
Banks and credit collapsed resulting in less jobs. The loss of jobs were those associated with the bank, credit, real state and those dependent on these industries.
With time and adjustements prices will become realistic due to the correction of the industries responsible for our high spending and unsustainable economy and wages.
We the public have to get away from the right and left blame. We all are affected and need to let government know we do not care for the blaming political manipulation.
WE WANT SOLUTIONS AND STABILITY.
Sorry. I posted #6. I am in Cozumel Mexico on vacation and was using a Hotel internet room.
The problem with employment and the economy in general in my view is a result of the credit culture created since the invention of credit.
Everey one was living beyond their means stimulating the economy , providing employment at high wagwes which resulted in high cost of living.
Banks and credit collapsed resulting in less jobs. The loss of jobs were those associated with the bank, credit, real state and those dependent on these industries.
With time and adjustements prices will become realistic due to the correction of the industries responsible for our high spending and unsustainable economy and wages.
We the public have to get away from the right and left blame. We all are affected and need to let government know we do not care for the blaming political manipulation.
WE WANT SOLUTIONS AND STABILITY.
Red,
Pray, do tell when the political class has ever, repeat ever, spoken for the middle class darling?
As to the consternating faith of a zealot you put in “others” to fix the problems you see about you. My dear, it is time to acknowledge the corn. The larger the government the smaller the mind.
In all social systems there must be a class to do the menial duties, to perform the drudgery of life. That is, a class requiring but a low order of intellect and but little skill…. It constitutes the very mudsill of society and of political government itself.
The Jonathan know well indeed the humbug of government fix.
“With time and adjustments prices will become realistic due to the correction of the industries responsible for our high spending and unsustainable economy and wages.”……. is tis what they teach in the affirmative action run schools?….. Dr. Lomeli?
Only such industry to which you are referring is the union ran government!
However, your assumption for fix works only in free market economy!
The unions and leftist like you do not allow free market economy.
Expect the worse!
What is happening now is called the “KIPPER” Generation. A “Kipper” is a person who continues to live in their parents’ home after becoming an adult, because they do not have enough money to leave and start their own home. Kipper comes from the first letters of words ‘kids in parents’ pockets eroding retirement savings’
Basically, the economy is so bad that many “grown kids” are living with mommy and daddy because it makes their lives easier.
I know many 40 somethings who STILL live with their parents. Is it really the economy or the “selfish” “me generation” of Kippers?
“A parents’ primary role is to raise their child into becoming an INDEPENDENT, SELF SUFFICIENT adult who is capable of making it on one’s own at all times.” Jill
Thanks RV for your report…I am on my soapbox today. 🙂
Our production has moved overseas due to Free Trade, rather than Fair trade agreements. We continue to run trade deficits in the billions, much of which is spent on imported oil.
Obama’s plan of moving towards a more Green economy with most of the energy produced here with jobs in the USA is the only way out, that I can see. WE are not going to get our manufacturing jobs back until we get different agreements or perhaps when oil hits 250 or more per barrel.
When oil gets to that point and it will, it becomes more expensive to ship products here made by what amounts to slave labor than to make it here. Then we will begin to make things for ourselves again.
But if we are still dependant on outside energy when oil reachs 250 per barrel and beyond the problems we face today will pale in comparision.
We need to be perpared to pay a little more in the short term to move the enconomy towards a green and self sufficent energy enviroment.
Perhaps the really left wing advisors that said the presidents plan was to small were correct. But if was expected at taht time that unemployment would continue to rise to somewhere between 10% to 11%, before beginning to drop. It is a little to early to judge it yet if we are still losing jobs by the end of the year, more action of some kind will be needed.
Thanks to all who have participated in my ranting thread! 😉
Stan, much appreciated the link – t/y!
Fiala,
My affirmative school education comes from CSUF,UCLA, Harvard and UCSF.
Where did you get your education from?
I was taught to think with ration and objectivity – emperically.
You think-talk out your A$%.Your words and offensive nature of what you post are witness to that.
I am main stream Republican. What do you consider your self to be politically?
You were exiled from your country for participating in overthrowing the existing government. You then were given Affirmative action status in the USA.
Dr. Lomeli
Cozumel- take the ferry to Playa del Carmen–and don’t decide to stay permanently in Cancun—
Now must you overpower poor lil ol’ Fiala with
your list of big schools there!
What a showoff!!!!!!!!!!!!!!!!!!!j/k
Fiala, that’s why the Doc’s out in paradise having
lobster and chelas while you are out here being a meano–scooby.
Now Stan—-news to you– there is no more affirmative action and many refused to participate in programs such as A-Action and other Educational Opportunity Programs (EOP)—because we knew idiots like you would one day start trying to throw this in our face!!
So think before you talk smack.
Affirmative Action does not keep you in school- your brain does- you moron!
Just in time,
Conzumel is beautiful as you know. I was in Playa del Carmen last year in the Mayan Riviera. There, I visited all the Mayan ruins – Chichenitza, Tulum and others, Also beautiful. This trip I visited Xcaret and toured all of Conzumel.
Thanks for educating Fiala on affirmative action . Primarily that there is no lowering of standards. You compete with your classmates or fail.