Friday, November 04, 2011

Things are bad when this looks good

The jobless rate fell 0.1% and there was almost celebration this morning. I'm sorry, but 9% unemployment isn't anything to be bragging about. It is still twice what the rate was under both Clinton and Bush and as it stands, it is projected to stay above at least 8.5 through the end of next year, if not increase.
U.S. Payrolls Rose in October; Jobless Rate 9% The U.S. jobless rate unexpectedly fell in October while employers added fewer workers than forecast, illustrating the “frustratingly slow” progress cited by Federal Reserve Chairman Ben S. Bernanke this week. The unemployment rate fell to a six-month low of 9 percent from 9.1 percent, even as the labor force grew. The 80,000 increase in payrolls followed gains in the prior two months that were revised up by 102,000, Labor Department figures showed today in Washington. “We’re making progress at a very slow pace,” said John Silvia, chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina, whose forecast for a gain of 85,000 jobs was among those that came closest to the result. “It indicates continued consumer spending, getting a little better over time.”

2 comments:

Anonymous said...

9% my rump roast.

Anybody with 2 brain cells to rub together knows that is a fictional number. 15% is much closer to the truth.

Why aren't the traitorous bastard and his fellow crooks in jail yet?

Prime said...

I agree, but what can be done with this administration in control of everything from the white house to the justice department.

Americans should have thought before they sold out to their racial guilt and voted him into office. He told America what he intended to do and he is doing it.,