Unemployment Insurance Applications
The increase in weekly unemployment applications as reported on January 8, 2011, rose to 445,000.
This comes after unemployment insurance applications had fallen to their lowest levels in two years over the winter holidays.
There was a lot of holiday work available.
Now that the holidays are over, the axe falls.
Government statistics are a farce.
Look at the real reason why, in that face of increasing unemployment, the unemployment rate fell from 9.8% in November to “just” 9.4% in December. It was the biggest monthly drop in unemployment since the dawn of employment.
But the drop didn’t happen because people found new jobs. Rather, people fell off the unemployment check gravy train. They had used up their 99 weeks of benefits and were re-categorized. They’re now counted as “discouraged and no longer looking for work” rather than unemployed.
President Obama hailed the drop in the misleading unemployment rate as a “clear” trend of job growth, and called on businesses to boost investment. Instead, he should have commiserated with those who are no longer eligible to receive their unemployment checks!
Obama’s “clear” trend of job growth? The only trend was people losing their unemployment insurance because they had been out of work for so long.
Here’s an idea… Why not send the unemployed folks who still have benefits and who are ill to Obama’s death panels? That would be best from a budgetary standpoint and would further reduce the unemployment rate.
Meanwhile, major U.S. corporations continue to export American jobs overseas—which is the cause of American unemployment.
Our govt doesn’t listen. Stop shipping our work overseas.
Everytime a new President comes in, he’s got all the lobbyists ‘selling their wares’ to him, and the same thing happens.Wait n see, there will be more jobs going overseas.
America is looking like a 3rd world country. Soon, we will be riding on bicycles and scooters to work, coz the gas prices are all controlled by OPEC.
Donald Trump is right. “We are helping to rebuild China..” and our govt keeps fudging the unemployment numbers!
Thanks for the explanation John!
The Chinese are making things affordable for the Americans and the goods are of American Standards(quality).
The increasing oil prices will indeed cause and result in Americans riding bikes instead of their usual limousines. The wealth in the US are with their Financial Institutions, Financial Wizards, Top Honchos and Some Politicians, usual in most capitalist societies.
Everything goes in cycle, the US was early to enjoy the good life which is now moving elsewhere. But, it will come back when the cycle of fortune returns to the US. However, by then, the US Of A may have changed its’ name.
There’s nothing that President Obama and or god can do to change the fate of the US, life goes in cycle.
patriot
Good points, Patriot. It may seem a radical thought, but why not curb imports?
For example, if we can’t buy a specific product from overseas, wouldn’t that create jobs at home?
John;
it does not make sense to me to bar an imported product that cost less and of similar quality than a more expensive locally produced version.
Anyway, me remembers that in the early days of America, the richer folks were farmers and if Americans go back to food productions, it could return to it’s days of glory again.
Obviously, the Americans dont want to have just a few percent of You holding multi billions each just to be the richest man in the world and cannot possibly enjoy the wealth except for that frivilous title of being the richest, damn ego that causes much hardship to others.
patriot
An employed American worker is a buyer of goods. Without less employment, less goods will be sold. That’s why I favor restricting imports.
Regarding food production, you are right. Even former Treasury Secretary Paulson has a hedge fund to buy land. His fund also owns Bezier Homes – which may be a mistake.