« | »

Jobless Rate Reaches 9.8% Unexpectedly

From a still surprised Associated Press:

From the US Bureau Of Labor Statistics.

Jobless rate reaches 9.8 percent in September


WASHINGTON — The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report is evidence that the worst recession since the 1930s is still inflicting widespread pain

The Labor Department said Friday that the economy lost a net total of 263,000 jobs last month, from a downwardly revised 201,000 in August. That’s worse than Wall Street economists’ expectations of 180,000 job losses, according to a survey by Thomson Reuters

If laid-off workers who have settled for part-time work or have given up looking for new jobs are included, the unemployment rate rose to 17 percent, the highest on records dating from 1994.

More than a half-million unemployed people gave up looking for work last month. Had they continued searching, the official jobless rate would have been higher.

All told, 15.1 million Americans are now out of work, the department said. And more than 7.2 million jobs have been eliminated since the recession began in December 2007.

Many analysts expect the economy grew [sic] at a healthy clip in the July-September quarter, technically ending the recession, but few think the recovery will be strong enough to lower the jobless rate. Most economists expect the rate to top 10 percent and keep climbing

As usual the Associated Press worked in their favorite lie that the recession began in December 2007.

The AP also put in this very curious line:

Many analysts expect the economy grew [sic] at a healthy clip in the July-September quarter, technically ending the recession, but few think the recovery will be strong enough to lower the jobless rate. Most economists expect the rate to top 10 percent and keep climbing.

Who knows what they are trying to say here?

It looks like they are trying to re-write the definition of "recovery" just as they have tried to re-write the meaning of "recession."

Still, and perhaps even more striking, is the fact that the AP has called this the “worst recession since the 1930s” for two days in a row now.  (As opposed to their previous line about how it was the worst recession since the early 1980s.)

Will this now become part of their boilerplate for every economic story from now on?

Meanwhile, the workers’ paradise of the European Union is still doing better than the US.

From Reuters:

Euro zone unemployment hits 10-year high of 9.6 pct

Thu Oct 1, 2009

By Marcin Grajewski

GOTHENBURG, Sweden, Oct 1 (Reuters) – Unemployment in the 16-country euro zone rose to a more than 10-year high of 9.6 percent in August and economists warned it will likely worsen further, hurting the prospects for a strong economic recovery.

The European Union statistics office said on Thursday the number of people without work had risen by 165,000 from July to 15.17 million as firms closed factories and laid off workers in the worst economic crisis since World War Two

Granted, Reuters is talking about the jobless figures in the EU for August. But unemployment in the US was 9.7% in August.

Whoever thought we’d see the day when we would be envying Europe its employment numbers and its hard-line conservative leadership?

This article was posted by Steve on Friday, October 2nd, 2009. Comments are currently closed.

7 Responses to “Jobless Rate Reaches 9.8% Unexpectedly”

  1. Liberals Demise says:

    Black is white; Up is down; Day is night; Bad is good; Left is right and the check is in the mail.

  2. Tater Salad says:

    Kid Mao and his Merry Band of Marxists are doing such a fine job aren’t they. Seems they are in way over their heads on running a country. With two years as a Senator and more time as an Acorn community organizer, it is quite evident he is the wrong person for the job now. ……or is it?? This just might be (running the country into the ground) being done on purpose to keep people “hoping” for something better while he tries to implement his agenda.

  3. Reality Bytes says:

    OHG! It’s the Global Warming Hockey Stick!! We’re all gonna Die!! Uh, what? That’s not the UN 2001 Global Warming Hockey Stick Graph? It’s what? The skyrocketing US unemployment rate since the President Obama took office?


    Oh, well, that’s different. We’re not gonna die. We’re just gonna starve.

  4. Rusty Shackleford says:

    I thought the anointed one “did not accept business cycles”.

    Well, I can see what he means, I guess, since technically there is no “cycle” here; Just a line that reaches to the stratosphere and keeps on going.

  5. proreason says:

    Strange isn’t it that unemployment was at the lowest point exactly when the Democrats took over Congress, and that since then, it has been a steady climb upward.

    What is the common theme there. Oh what IS it?

    Could it be related to the dramatic change in the rate of unemployment at exactly the time the Moron emerged as the fuhrer of his party?

    It’s almost as if businesses reacted in unision to some events.

    Oh what could those events be?

    • Liberals Demise says:

      Sheriff Joe says that the Stimulus is working and things would be much worse without it in place.
      (and they have only spent 18% of it so far)

  6. canary says:

    Oh, the ole go on welfare tactic from the 70’s.

« Front Page | To Top
« | »