« | »

Jobless Rate Hits 9.7% – Unexpectedly

From those masters of duplicity at the Associated Press:

Jobless rate at 9.7 pct.; 216K jobs lost in Aug.

By Christopher S. Rugaber, AP Economics Writer

WASHINGTON – The unemployment rate jumped almost half a point to 9.7 percent in August, the highest since 1983, reflecting a poor job market that will make it hard for the economy to begin a sustained recovery.

While the jobless rate rose more than expected, the economy shed a net total of 216,000 jobs, less than July’s revised 276,000 and the fewest monthly losses in a year, according to Labor Department data released Friday. Economists expected the unemployment rate to rise to 9.5 percent from July’s 9.4 percent and job reductions to total 225,000…

The civilian labor force usually grows as a recession winds down and optimism about finding work grows. But as long as Americans remain anxious about their jobs, consumer spending isn’t expected to rise enough to power a rebound…

The recession has eliminated a net total of 6.9 million jobs since it began in December 2007. Job cuts last month remained widespread across many sectors.

The construction industry lost 65,00 jobs. Factories cut 63,000, while retailers pared 9,600 positions. The financial sector eliminated 28,000 jobs, while professional and business services dropped 22,000. Even the government lost 18,000 jobs, as the U.S. Postal Service cut 8,500 positions.

Health care and educational services was the only bright spot, adding 52,000 jobs

Hey, never mind the last dozen or so AP stories that assured us that unemployment was going down.

They were just doing their masters’ bidding. (They even worked in their favorite lie about how the recession started in December 2007.)

It’s not like they are expected to be a source of actual news, let alone truth.

And speaking of truth:

Even the government lost 18,000 jobs, as the U.S. Postal Service cut 8,500 positions.

Ever notice how the Post Office is a government agency when it suits our media masters, and then again is not, when it works better for them?

And speaking of the DNC, look at the above chart from the Bureau Of Labor statistics and find the spot where the Democrats took over the control of Congress.

Notice that it was from that point onward that unemployment began to skyrocket.

This article was posted by Steve on Friday, September 4th, 2009. Comments are currently closed.

8 Responses to “Jobless Rate Hits 9.7% – Unexpectedly”

  1. Liberals Demise says:

    Don’t anyone pull the foot out of Sheriff Joes’ mouth!

  2. proreason says:

    what a shock. It seemed so certain that the boy king had stemmed the bleeding from the bushhitler massacre.

    But, looking at the curve of the 9.7% number (which is about 1/2 the true number), it appears that the pace of layoffs is indeed slowing down (as it must at some point).

    If ObamyScare doesn’t pass, and Cap and Tax doesn’t pass, the peak may be a bit below 10% (for this phase of the destruction of our economy, anyway).

    But if either of those 2 pass in anything other than name-only, there will probably be another spike. A lot of small businesses will simply shut down,

    That, of course, is what the Fascists want. Small businesses are so pesky to control. They much prefer dealing with a few GE’s, GM’s, and UHG’s. You only have to buy-off a few dozen co-criminals that way.

  3. Colonel1961 says:

    A net job loss? I guess we’re not hiring enough new Government employees…

  4. P. Aaron says:

    To those idiots who declare war on capital, here’s a news flash: Capital wins every time.

  5. JaneLovesJesus says:

    Can we implement a ban on the MSM & the administration using the word “unexpected”?

    Every bleeping bit o’ bad news is such an amazing surprise to them. Does that ever stop?

  6. MinnesotaRush says:

    The only fools blindsided (yuk, yuk) by this tidbit of “unexpectedly” are o-blah-blah and his gang and they could care less.

« Front Page | To Top
« | »