Jobless rate tops 10 pct. for first time since '83

[spursncowboys]

Jobless rate tops 10 pct. for first time since '83
Unemployment rate tops 10 percent for first time since 1983; 190,000 jobs lost in October

By Christopher S. Rugaber, AP Economics Writer
On 11:10 am EST, Friday November 6, 2009
WASHINGTON (AP) -- The unemployment rate has passed the psychological threshold of 10 percent for the first time since 1983 -- and is likely to go higher.

Nearly 16 million people can't find jobs even though the worst recession since the Great Depression has apparently ended. Persistently high unemployment could hurt the recovery by restraining consumer spending, which accounts for 70 percent of the economy.

The report showed that the nation faces a jobless recovery -- an economy that can't create jobs even though it is growing.

The unemployed rate jumped to 10.2 percent last month, the highest since April 1983, from 9.8 percent in September, the Labor Department said Friday. The economy shed a net total of 190,000 jobs, more than economists had expected.

The number of unemployed hit 15.7 million, up from 15.1 million. The job losses occurred across most industries, from manufacturing and construction to retail and financial. The job-loss total is based on a survey of businesses, separate from a survey of households that produces the unemployment rate.

Economists say the unemployment rate could reach 10.5 percent next year because employers remain reluctant to hire.

"It's a stark reminder of how much work remains to be done to get people back to work," Christina Romer, head of President Barack Obama's Council of Economic Advisers, acknowledged in an interview with The Associated Press.

Some positive signs emerged in the data, Romer said, pointing to a 34,000 increase in temporary service jobs.

"That's often the first sign of firms kind of dipping their toe back into hiring people," she said.

Still, counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.

"It's not a good report," said Dan Greenhaus, chief economic strategist for New York-based investment firm Miller Tabak & Co. "What we're seeing is a validation of the idea that a jobless recovery is perfectly on track."

Friday's report is the first since the government said last week that the economy grew at a 3.5 percent annual rate in the July-September quarter, the strongest signal yet that the economy is rebounding. But that isn't fast enough to spur rapid hiring.

"You need explosive growth to take the unemployment rate down," Greenhaus said in an interview Thursday.

The economy soared by nearly 8 percent in 1983 after a steep recession, Greenhaus said, lowering the jobless rate by 2.5 percentage points that year. But the economy is unlikely to improve that fast this time, as consumers remain cautious and tight credit hinders businesses. In fact, many analysts expect economic growth to moderate early next year, as the impact of various government stimulus programs aimed at home and car buying fade.

The stock market seesawed in early trading. The Dow Jones industrial average added about 4 points, while broader indexes were mixed.

High unemployment is likely to become a political liability for Obama and Democrats in Congress. Most economists expect the jobless rate will remain above 9 percent through next November, when congressional elections are held. When unemployment topped 10 percent in the fall of 1982, President Ronald Reagan's Republican Party lost 26 seats in the House.

One sign of how hard it still is to find a job: The number of Americans who have been out of work for six months or longer rose to 5.6 million, a record. They account for 35.6 percent of the unemployed population, matching a record set last month.

Congress sought to address the impact of long-term unemployment this week by approving legislation extending jobless benefits for the fourth time since the recession began. The bill would add 14 to 20 extra weeks of aid and is intended to prevent almost 2 million recipients from running out of unemployment insurance during the upcoming holiday season. Obama is expected to quickly sign the legislation.

October was the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years. The report showed job losses remain widespread across many industries. Manufacturers eliminated a net total of 61,000 jobs, the most in four months. Construction shed 62,000 jobs, down slightly from the previous month.

Retailers, the financial sector and leisure and hospitality companies all continued to reduce payrolls. The economy has lost a net total of 7.3 million jobs since the recession began in December 2007.

The average work week was unchanged at 33 hours, a disappointment because employers are expected to add more hours for current workers before they begin hiring new ones.

There were some bright spots in the report. Professional and business services companies added 18,000 jobs. And temporary employment grew by 33,700 jobs, after losing positions for months. That's a positive sign because employers are likely to add temporary workers before hiring permanent ones.

Still, economists expect jobs likely will remain scarce even as the economy improves. Diane Swonk, chief economist at Mesirow Financial, said that small businesses, a primary engine of job creation, still face tight credit and don't have the cash reserves to support extra workers.

And many companies are squeezing more production from their existing work forces. Productivity, the amount of output per hour worked, jumped 9.5 percent in the third quarter, the Labor Department said Thursday.

That's the sharpest increase in six years and followed a 6.9 percent rise in the second quarter. The increases enable companies to produce more without hiring extra people.

The Federal Reserve said earlier this week that it will keep a key interest rate at a record low level of nearly zero for an "extended period" to support the economy.

The central bank said economic activity has "continued to pick up," but Fed Chairman Ben Bernanke and his colleagues warned that rising joblessness and tight credit could restrain the rebound in the months ahead.

While the unemployment rate hasn't yet topped the post-World War II high of 10.8 percent set in December 1982, many experts say this recession is worse.

The work force, on average, is older now as the baby boomers have aged and fewer teenagers are out looking for work. Gary Burtless, an economist at the Brookings Institution, notes that older workers are more likely to be employed than younger ones. As a result, it takes a tougher job market to push the rate to 10 percent.

"This may be the toughest employment situation we've seen in the postwar era," Mark Gertler, an economics professor at New York University, said in an interview earlier this week.

Associated Press Writer Jim Kuhnhenn contributed to this report.

[clambake]

what a great article. what's your take on it?

[Winehole23]

U6 is 17.5%.

http://www.bls.gov/news.release/empsit.t12.htm

[Winehole23]

U-6 unemployed, plus all marginally attached
workers, plus total employed part time for
economic reasons, as a percent of the civilian
labor force plus all marginally attached workers..

NOTE: Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and
are available for a job and have looked for work sometime in the recent past. Discouraged workers, a subset of the marginally attached,
have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those
who want and are available for full-time work but have had to settle for a part-time schedule. For more information, see "BLS
introduces new range of alternative unemployment measures," in the October 1995 issue of the Monthly Labor Review. Updated population
controls are introduced annually with the release of January data.

[spursncowboys]

U6 is 17.5%.

http://www.bls.gov/news.release/empsit.t12.htm

I always felt this is a more accurate number of unemployed.

[Crookshanks]

Boy - it's a good thing Congress passed that "stimulus" bill huh.

[ChumpDumper]

Boy - it's a good thing Congress passed that "stimulus" bill huh.Yes, it is.

[coyotes_geek]

Green jobs and another round of cash for clunkers will save us.

[MannyIsGod]

Boy - it's a good thing Congress passed that "stimulus" bill huh.


Would you prefer there be even more people without jobs?


WH, mindsets like this are the reason for the jobs saved and created claims.

[boutons_deux]

and bankrupt AIG made a quarterly profit! :lol

Productivity is also up (companies doing more stuff per employee).

Millions laid off, shareholders cheer the cost cutting.

Wage slaves get whipped more viciously, with no increase in pay, and shareholders cheer, too.

As employers reorganize/automate to do more with fewer employees, millions of jobs will not be returning.

[MannyIsGod]

WH, I'm curious to your stance as to the effectiveness of the stimulus package in saving jobs. We've talked about the measurement by economists but I'm not sure I've ever read how effective you actually feel its been.

[EmptyMan]

:lmao

[DarrinS]

WH, I'm curious to your stance as to the effectiveness of the stimulus package in saving jobs. We've talked about the measurement by economists but I'm not sure I've ever read how effective you actually feel its been.


How do you measure that?

[angrydude]

what we need is another round of printing/borrowing a crapload of money to give it to sectors of the economy that no private group would dare to throw money at and construction projects that aren't needed.

[coyotes_geek]

How do you measure that?

The trend appears to be one of randomly picking a number and saying things would be worse by that much every time a new set of data comes out.

[Winehole23]

WH, I'm curious to your stance as to the effectiveness of the stimulus package in saving jobs. We've talked about the measurement by economists but I'm not sure I've ever read how effective you actually feel its been.Hard to say b/c of the measurement issue. I wouldn't say the effect is negligible, but I wouldn't say it's pulled our bacon out of the fire either.

[EmptyMan]

Thank god our President was an Ivy League intellectual gifted with an unmatched readi...err...speaking ability.

I'm sure he is doing the right things to save my jo...stimulate th....make me feel good.



I don't know about you all, but I myself am ready for my second stimulus package. At worst, third time is the charm. I'm sure the only people getting paid off in the earlier ones will eventually trickle dat cheddar down to my mailbox.

[MannyIsGod]

Hard to say b/c of the measurement issue. I wouldn't say the effect is negligible, but I wouldn't say it's pulled our bacon out of the fire either.

I think its fairly obvious it hasn't pulled our bacon out of the fire. Time will tell if it was enough, but I've seen nothing to suggest it has.

Do you believe in the long run we will be better off for having done it or not?

[ChumpDumper]

Thank god our President was an Ivy League intellectual gifted with an unmatched readi...err...speaking ability.

I'm sure he is doing the right things to save my jo...stimulate th....make me feel good.



I don't know about you all, but I myself am ready for my second stimulus package. At worst, third time is the charm. I'm sure the only people getting paid off in the earlier ones will eventually trickle dat cheddar down to my mailbox.Are you working right now?

[DarrinS]

Are you working right now?

This person has 253 posts to your 47,280, so maybe he gets more work done than you.

Why are you so fucking obsessed about people posting from work?

Are you posting from work?

[Winehole23]

Do you believe in the long run we will be better off for having done it or not?Could be. I don't assume anything about the sustainability of the good already done.

[MannyIsGod]

Could be. I don't assume anything about the sustainability of the good already done.

Its not sustainable. There's no argument about that. As most economists I've read have pointed out, you're not going to see a bigger impact than you already have, but the spending will continue for some time now so it will continue helping for a decent amount of time. The hope of course is economic recovery before it runs out so that in effect the pump was primed.

In any event, I was surprised to find myself unknowing of your position earlier this morning considering how much this has been discussed in here.

[Wild Cobra]

I always felt this is a more accurate number of unemployed.

I would go with U5. Some people desire just part time jobs. I guess I could be wrong, but I think U6 is counting people it shouldn't.

[Cry Havoc]

Thank god our President was an Ivy League intellectual gifted with an unmatched readi...err...speaking ability.

I'm sure he is doing the right things to save my jo...stimulate th....make me feel good.



I don't know about you all, but I myself am ready for my second stimulus package. At worst, third time is the charm. I'm sure the only people getting paid off in the earlier ones will eventually trickle dat cheddar down to my mailbox.


Boy - it's a good thing Congress passed that "stimulus" bill huh.

Are you guys making, "Woohoo America is in trouble and we're happy because we can blame it on the other party" signs yet?

[Winehole23]

In any event, I was surprised to find myself unknowing of your position earlier this morning considering how much this has been discussed in here.I'm ambivalent about it. In my mind the only good justification is humanitarian -- wanting to give Americans a leg up in hard times. The economic justification looks pretty iffy to me.

[Winehole23]

Are you guys making, "Woohoo America is in trouble and we're happy because we can blame it on the other party" signs yet?That's the way the game is played. The officeholder gets the economy hung around his neck. If there's no credible turnaround before 2012, Obama is in trouble.

[DarrinS]

Are you guys making, "Woohoo America is in trouble and we're happy because we can blame it on the other party" signs yet?


Can we borrow the ones you guys carried for the last 8 years?

[Winehole23]

Can we borrow the ones you guys carried for the last 8 years?Too late. You already stole it.

[Winehole23]

You hoisted yours up about two days after the election.

[coyotes_geek]

Are you guys making, "Woohoo America is in trouble and we're happy because we can blame it on the other party" signs yet?

No need. They can just reuse the ones the other team was using a year ago.

[DarrinS]

Too late. You already stole it.


I still want one of those Chicago olympic t-shirts, but they've probably all been shipped to Guatemala by now.

[Cry Havoc]

Can we borrow the ones you guys carried for the last 8 years?

I voted for Bush in 2000. Nice try.

And I would never hope that our country tanks just because someone I didn't vote for is in office.

[Aggie Hoopsfan]

Would you prefer there be even more people without jobs?


WH, mindsets like this are the reason for the jobs saved and created claims.

What exactly was stimulated, besides payraises and increased job hirings by the federal government (not exactly lasting stimulus).

[MannyIsGod]

What exactly was stimulated, besides payraises and increased job hirings by the federal government (not exactly lasting stimulus).

The way the money is being spent is incredibly transparent and can be found at recovery.gov. I a lot of information on this already, and if you look at my past posts you can find it.

To do a quick summary a lot of state governments were able to avoid drawbacks that would have led to massive job loss in teachers and other state employees. The increased unemployment benefits have had even bigger impacts on the economy. The money these people spend then keeps others employed and entails a positive feedback loop - basically the exact opposite of what was going on last fall.

[spursncowboys]

That's the way the game is played. The officeholder gets the economy hung around his neck. If there's no credible turnaround before 2012, Obama is in trouble.
This is how Obama got elected. I am more astounded by the lack of media towards this. I honestly doubt anyone wants America to do bad. I just think it is a reflection of the bad decisions by BHO and Pelosi.

[Winehole23]

This is how Obama got elected. I am more astounded by the lack of media towards this. I honestly doubt anyone wants America to do bad. I just think it is a reflection of the bad decisions by BHO and Pelosi.This is tunnel vision IMO. Did you see my WSJ post today on 30 years of subsidized risk?

[Marcus Bryant]

This is tunnel vision IMO. Did you see my WSJ post today on 30 years of subsidized risk?

The average American is incapable of making such connections when it comes to politics, governance, and economics. Either the current presidential administration has it entirely right, or entirely wrong, and is either entirely responsible, or not, for the current economic situation that predominates across the land. Not to mention that the Federal Reserve is a non-entity to them.

Perhaps this is why the two political parties fail to offer substantively different actual governance. Sure, politicians play lip service to certain guiding "principles." But both sides seem to be rather close ideologically, at least at the national level.

[boutons_deux]

what would the Magic Negro Lynchers here have done differently, politcally achievable, facing the obstructionist-at-any-cost Repugs, to fix the jobs problem by now?

[boutons_deux]

While America Burned, the Repug Neros made nasty, bloody-minded filibuster politics and let 200K Americans go without unemployment

" ...Democrats only had to break three separate filibusters in the Senate to get this passed! The first filibuster was broken by a vote of 87-13, the second by a vote of 85-2, and the third by a vote of 97-1. The fourth and final vote, the one to actually pass the bill, was 98-0. Elapsed time: five weeks for a bill that everyone ended up voting for.

Why? Because even though Republicans were allowed to tack on a tax cut to the bill as the price of getting it passed, they decided to filibuster anyway unless they were also allowed to include an anti-ACORN amendment. Seriously. A bit of ACORN blustering to satisfy the Palin-Beck crowd is the reason they held up a bill designed to help people who are out of work in the deepest recession since World War II.... That's called taking governing seriously, my friends."

http://www.alternet.org/module/printversion/143788/?type=blog

motherfucking Repugs, "fuck Americans, let them eat nothing, we're gonna get Acorn for registering 1 million+ Dem-voting poor people."

[jack sommerset]

This person has 253 posts to your 47,280, so maybe he gets more work done than you.

Why are you so fucking obsessed about people posting from work?

Are you posting from work?

I think Chumpy said he only works part-time. That is all he needs to do. Yes he is OBSESSED with people who post from a job. He thinks it helps with all his questions he ask us. He is a fucking weirdo.

[Wild Cobra]

I think Chumpy said he only works part-time. That is all he needs to do. Yes he is OBSESSED with people who post from a job. He thinks it helps with all his questions he ask us. He is a fucking weirdo.

I think that's all he has to do in his momma's basement.

[jack sommerset]

I think that's all he has to do in his momma's basement.

Man, we are going to get alot of questions when he gets back.

[antimvp]

YDR47EKTrCQ&feature=player_embedded


well last time unemployment was this high RONNY was the president and that worked out ok.....I guess the GOP will be voted democrat next election.

[ChumpDumper]

Nah, it's fun to see everyone bitching about jobs and lazy people, etc. while they are sitting on their asses at work posting on a message board.

[ChumpDumper]

I think that's all he has to do in his momma's basement.My mother is dead and there aren't many basements in south central Texas.

[spursncowboys]

The average American is incapable of making such connections when it comes to politics, governance, and economics. Either the current presidential administration has it entirely right, or entirely wrong, and is either entirely responsible, or not, for the current economic situation that predominates across the land. Not to mention that the Federal Reserve is a non-entity to them.

Perhaps this is why the two political parties fail to offer substantively different actual governance. Sure, politicians play lip service to certain guiding "principles." But both sides seem to be rather close ideologically, at least at the national level.
The average american is alot smarter and has much more common sense than you give them credit. They are also a little more educated to our history than you presume.

[jack sommerset]

Nah, it's fun to see everyone bitching about jobs, etc. while they are sitting on their asses at work posting on a message board.

What makes you think everyone who is bitching about jobs is posting from work? Aww fuck it. Nice to see you have an opinion.

[ChumpDumper]

The average american is alot smarter and has much more common sense than you give them credit. They are also a little more educated to our history than you presume.This board is evidence to the contrary. People on both sides deliberately lie to maintain a consistent ideology. That's the only thing that is important.

[spursncowboys]

My mother is dead and there aren't many basements in south central Texas.
It's safe to assume that a momma joke doesn't actually involve that person's actual mother. What is this the 90's?

[ChumpDumper]

What makes you think everyone who is bitching about jobs is posting from work? Aww fuck it. Nice to see you have an opinion.Everyone is such a pussy about admitting they are posting from work like you, so it's easy to come to that conclusion.

[ChumpDumper]

It's safe to assume that a momma joke doesn't actually involve that person's actual mother. What is this the 90's?It's safe to assume it's a stupid and meaningless joke from someone posting from work.

[spursncowboys]

This board is evidence to the contrary. People on both sides deliberately lie to maintain a consistent ideology. That's the only thing that is important.
People getting on an internet forum to debate and argue, without any civility, are not a real good slice of American society. IMO

[spursncowboys]

It's safe to assume it's a stupid and meaningless joke.
Yo momma's a stupid and meaningless joke.

[ChumpDumper]

People getting on an internet forum to debate and argue, without any civility, are not a real good slice of American society. IMOOn the contrary, it is exactly what is going on anywhere there is political debate.

[spursncowboys]

Are yall at work while posting? Damn, no wonder our economy is so jacked up. JK. Doesn't your boss check up on yall?

[jack sommerset]

Everyone is such a pussy about admitting they are posting from work like you, so it's easy to come to that conclusion.

Another opinion. You are on a roll. But you are wrong again but keep them coming.

[ChumpDumper]

Yo momma's a stupid and meaningless joke.Great stuff.

Mature.

Thoughtful.

[ChumpDumper]

Another opinion. You are on a roll. But you are wrong again but keep them coming.Of course I'm right. Your fear is entertaining. There is no need for me to ask the question anymore because your squirming and whining when I did was all the answer that was needed.

[Ignignokt]

Are you guys making, "Woohoo America is in trouble and we're happy because we can blame it on the other party" signs yet?

Since you had previous experience from 2001-08.. shed some light on that subject for us.

[Ignignokt]

LoL Data!

[jack sommerset]

Of course I'm right. Your fear is entertaining. There is no need for me to ask the question anymore because your squirming and whining when I did was all the answer that was needed.

:lmao Squirming and whining.

I never have to get another question from Chumpy again!!!! There might be a God out there. I am heading out. From where though? It's 4 on a Friday. Am I leaving the office, library, my house, starbucks......... Am I at work, going to work, leaving work? :lmao

[ChumpDumper]

:lmao Squirming and whining.

I never have to get another question from Chumpy again!!!! There might be a God out there. I am heading out. From where though? It's 4 on a Friday. Am I leaving the office, library, my house, starbucks......... Am I at work, going to work, leaving work? :lmaoSee?

:lmao

[spursncowboys]

So Obama said that if we didn't do the bail out, the unemployment would go over 8%. Is he niave to think had an answer for our economy, or incompetent for misusing the money? Is it not his fault? Why? Please no cheerleading.

[Wild Cobra]

So Obama said that if we didn't do the bail out, the unemployment would go over 8%. Is he niave to think had an answer for our economy, or incompetent for misusing the money? Is it not his fault? Why? Please no cheerleading.

How can we make fun of a retard who think's there are 57 states?

[ChumpDumper]

So Obama said that if we didn't do the bail out, the unemployment would go over 8%. Is he niave to think had an answer for our economy, or incompetent for misusing the money? Is it not his fault? Why? Please no cheerleading.I think many have underestimated this recession.

[Ignignokt]

I think many have underestimated this recession.

That's funny... he didn't underestimate it when he was campaigning against John McCain. He was forecasting doom throughout.

[ChumpDumper]

That's funny... he didn't underestimate it when he was campaigning against John McCain. He was forecasting doom throughout.He certainly was closer in his estimation than McCain was. Probably was the last straw that got him elected.

[Ignignokt]

He certainly was closer in his estimation than McCain was. Probably was the last straw that got him elected.

based on a qoute that was taken out of context, which funny thing is.. Obama's administration later used the same statement.. I don't know bout tat.

[ChumpDumper]

based on a qoute that was taken out of context, which funny thing is.. Obama's administration later used the same statement.. I don't know bout tat.Nah, McCain fucked up initially with the statement, then finished himself off with his non-campaign-suspension campaign suspension.

[spursncowboys]

McCain would have done the same social "feel good" money spending that BHO is doing. McCain said that corporations are evil.

[Nbadan]

I think this is more a measure of how 'soft' our service-based economy has become...thanks globalization...we are now very vulnerable to run-away highs but also to seemingly inescapable lows...no doubts that Obama is doing the right thing to stimulate the economy....if we would have had more GOP tax-cuts for the rich the unemployment numbers would be between 12-15%...we need to diversify our economy but we are hamstrung by international trade treaties and quotas...

[jack sommerset]

Kick the illegals out and that percentage will drop BIGTIME!!!!! Obama should use some of that stimulus money as reward money. Every illegal allien you capture you get paid. I might just jiz in my pants if that were to happen.

[j-6]

We use U6 at work and had a pool going. Nobody came within a point of the correct total - everyone guessed high. I was at an extremely conservative 19% and am still shocked we only went up half a point. I hope the feds aren't cooking the books here.

Unemployment is terrible right now and many HR types think we are in for a really nasty next two quarters. If we wind up over 20% U6 I don't know how we'll ever rebound with every fifth person underemployed. I suppose we should be thankful a lot of people are trying to generate part-time revenue but if I had a college age kid, they'd be taking the GMAT as soon as they matriculated. At least they'd be over educated and unemployed as opposed to sitting on my couch playing XBOX waiting for the perfect job to appear online.

[Yonivore]

http://www.powerlineblog.com/archives/media/11-09-unemployment.jpg
http://www.powerlineblog.com/archives/media/15134_1289625880108_1214068603_864063_1867185_n.jp g
http://3.bp.blogspot.com/_hnqpvFwIwnw/SvQpQ3kRFNI/AAAAAAAAEso/XU3wPPDAUl8/s1600/epa.gif

[ChumpDumper]

Keep praying it gets worse, Yoni.

[hope4dopes]

I think many have underestimated this recession. I think many have overestimated Obama's intelligence.

[hope4dopes]

Nah, McCain fucked up initially with the statement, then finished himself off with his non-campaign-suspension campaign suspension. prove it provide links .

[Winehole23]

Unemployment is terrible right now and many HR types think we are in for a really nasty next two quarters. If we wind up over 20% U6 I don't know how we'll ever rebound with every fifth person underemployed.If we wind up over 20% we'll be approaching the Great Depression scale of unemployment. Political pressure to keep U-6 under 20% isn't unthinkable.

[ChumpDumper]

prove it provide links .It's my opinion, micca. If you would like to meltdown over my opinion, have at it. Wouldn't be the first time.

[j-6]

If we wind up over 20% we'll be approaching the Great Depression scale of unemployment. Political pressure to keep U-6 under 20% isn't unthinkable.

From what I've gathered, if U6 gets over 20% (which most of us were anticipating) it'll get spun into how many part time working adults are choosing to return to school, to spend additional time with their children, or volunteering in their communities. It's kind of bullshit - a lot of these PT jobs are being filled by overqualified candidates and leaving the types that would usually fill them on the sideline with far fewer options to choose from, and of course there's the Millennial mindset of waiting infinitely for their ''perfect job'' rather than finding something that generates income.

For instance, I know a meteorologist that's been unemployed in her field for over a year. She's working a few shifts a week tending bar at Olive Garden while she pursues an MBA in business. She wouldn't be considered as a U6 casualty by government standards.

[Wild Cobra]

From what I've gathered, if U6 gets over 20% (which most of us were anticipating) it'll get spun into how many part time working adults are choosing to return to school, to spend additional time with their children, or volunteering in their communities. It's kind of bullshit - a lot of these PT jobs are being filled by overqualified candidates and leaving the types that would usually fill them on the sideline with far fewer options to choose from, and of course there's the Millennial mindset of waiting infinitely for their ''perfect job'' rather than finding something that generates income.

For instance, I know a meteorologist that's been unemployed in her field for over a year. She's working a few shifts a week tending bar at Olive Garden while she pursues an MBA in business. She wouldn't be considered as a U6 casualty by government standards.

Yes, you are correct about the over qualified part. I am way overqualified for my present job, but even when the economy corrects itself, I will probably stay right here. I can make at least 50% more than I do now, but I like the job security I have now. It's not worth trading for that extra money. Even before getting this job, I delivered pizza's for Domino's. I even did that as a second job after getting this one till I caught up on my finances. A man does what he must, and works two jobs when necessary.

Did your froiend lose her meterologist gig because she didn't believe in antropogenic global warming by chance?

[symple19]

Dude, we're sooooo out of the recession...Like, fer real

Here in California it's only 7 jobless for every 1 new job bro.

Recovery, here we come!!

Yay

[2centsworth]

It's my opinion, micca. If you would like to meltdown over my opinion, have at it. Wouldn't be the first time.

it's the trolling

[nuclearfm]

This data is a good sign. It should be more like 30% in my opinion. Most Americans are stupid and undeserving, including many people on this board (which I really don't miss). WC is talking about having a job yet stumbling over with idiocy on the majority of his posts. It's pathetic that so many people feel entitlement to a job. We have room to work for more losses.

[symple19]

This data is a good sign. It should be more like 30% in my opinion. Most Americans are stupid and undeserving, including many people on this board (which I really don't miss). WC is talking about having a job yet stumbling over with idiocy on the majority of his posts. It's pathetic that so many people feel entitlement to a job. We have room to work for more losses.

how's that new gig going nuclear? Did they let you out of the bunker? lol

[Spursmania]

10%:wow

[SnakeBoy]

This board is evidence to the contrary. People on both sides deliberately lie to maintain a consistent ideology. That's the only thing that is important.

Pot bitching about the kettle.

[SnakeBoy]

I think many have underestimated this recession.

Finally starting to see the light Chump? Do I get to accuse you of "hoping things get worse" like you were doing to those of us who said things were going to get much worse back at the beginning of the year?

[SnakeBoy]

Nearly 16 million people can't find jobs even though the worst recession since the Great Depression has apparently ended.

Wishful thinking IMO. I think sometime in 2010 we'll get back to talking about the economic crisis instead of the supposed recovery.

[greyforest]

Jobless rate tops 10 pct. for first time since '83

except this is meaningless since they changed the definition of unemployed people between then and now

http://en.wikipedia.org/wiki/Current_Population_Survey#1994_CPS_Revisions

[ChumpDumper]

Finally starting to see the light Chump?My position regarding the severity of this recession has been quite consistent.
Do I get to accuse you of "hoping things get worse" like you were doing to those of us who said things were going to get much worse back at the beginning of the year?No, because I also thought it would get worse. I simply did not giggle with glee at the prospect for perceived partisan advantage as others here obviously do.

[Wild Cobra]

Jobless rate tops 10 pct. for first time since '83

except this is meaningless since they changed the definition of unemployed people between then and now

http://en.wikipedia.org/wiki/Current_Population_Survey#1994_CPS_Revisions

Fine, except that the official measure stayed the same. Just changed from U5 to U3.

So how does that have an effect on the reported rate? I don't see it.