November Unemployment

10.2%. This is the highest it has been since 1983.

I don't think stimulus means what Obama think it means.

Jobless Claims Rise Again

Jobless cliams rise to more than expected- 531K

The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, as employers remain reluctant to hire even with the economy showing signs of recovery. (ed. when companies are LAYING OFF, it is not a reluctance to hire new workers - they are still letting employees go. And if the economy is "recovering", then why are people still getting laid off?)

Claims had fallen in five out of the previous six weeks and most economists expect that trend to continue, but at a slow pace, as jobs remain scarce.

The Labor Department said Thursday that new jobless claims rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week. Wall Street economists had expected only a slight increase, according to Thomson Reuters.

Economists closely watch initial claims, which are considered a gauge of layoffs and an indication of companies' willingness to hire new workers.

I don't think "Stimulus" means what Obama thinks it means - September Unemployment

September Unemployment numbers are in....9.8%. More jobs were lost than expected, but we will hear the spin all day long about "how the stimulus is working because it stopped the bleeding, blah, blah, blah"

The U.S. unemployment rate rose to 9.8 percent in September as employers cut far more jobs than expected, evidence that the longest 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, up from a downwardly revised 201,000 in August. That's above Wall Street economists' expectations of 180,000 job losses, according to a survey by Thomson Reuters.

The unemployment rate rose from 9.7 percent in August, matching expectations.

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.

I don't think "Stimulus" means what Obama thinks it means

Unemployment is 9.7%. And just last month, we had hope.

Hope is gone.

Economy Recovering *fingers crossed*?

Unemployment fell to 9.4% for July.

Jobless Claims Drop

Good news, maybe?

The number of newly-laid off workers seeking unemployment insurance fell last week, the government said Thursday, fresh evidence that layoffs are easing.

The Labor Department said that initial claims for jobless benefits dropped to a seasonally adjusted 550,000 for the week ending Aug. 1, down from an upwardly revised figure of 588,000 in the previous week.

Maybe I can find a job soon.

The Economy? It's worse than you think

According to a new article in the WSJ, the economy is actually worse than you think.

The Bureau of Labor Statistics preliminary estimate for job losses for June is 467,000, which means 7.2 million people have lost their jobs since the start of the recession. The cumulative job losses over the last six months have been greater than for any other half year period since World War II, including the military demobilization after the war. The job losses are also now equal to the net job gains over the previous nine years, making this the only recession since the Great Depression to wipe out all job growth from the previous expansion.

Here are 10 reasons we are in even more trouble than the 9.5% unemployment rate indicates:

June's total assumed 185,000 people at work who probably were not.

More companies are asking employees to take unpaid leave. These people don't count on the unemployment roll.

No fewer than 1.4 million people wanted or were available for work in the last 12 months but were not counted.

The number of workers taking part-time jobs due to the slack economy, a kind of stealth underemployment, has doubled in this recession to about nine million, or 5.8% of the work force.

The average work week for rank-and-file employees in the private sector, roughly 80% of the work force, slipped to 33 hours.

The average length of official unemployment increased to 24.5 weeks, the longest since government began tracking this data in 1948.

The average worker saw no wage gains in June, with average compensation running flat at $18.53 an hour.

The goods producing sector is losing the most jobs -- 223,000 in the last report alone.

The prospects for job creation are equally distressing. The likelihood is that when economic activity picks up, employers will first choose to increase hours for existing workers and bring part-time workers back to full time. Many unemployed workers looking for jobs once the recovery begins will discover that jobs as good as the ones they lost are almost impossible to find because many layoffs have been permanent.

This is warms my heart with goodness and cheer. Latest talks regarding the economic recovery are putting the end of this recession sometime in the middle of 2010....and then the tax increases will take effect, which will almost insure no new job creation. I'm never finding a job. And my unemployment is almost up. Feel free to help me out by visiting a couple of my "sponsors" who probably have no idea they are sponsoring my blog.

I don't think Stimulus means what Obama thinks it means

Jobless rate increase to 9.5%. UGH!

I bet unemployment will be a problem now

Dear Harvard Newly Unemployed:

No need to worry because unemployment is FUN! Kimi Yoshino told me.

The only time the world beats a path to your door is if you're in the bathroom

So I had an interview on Monday for a job that I knew I was overqualified for, but in an industry I love, love, love...so I was willing to take the beneath me job. Not only that, the lady that would have been my boss was great and I know I would have enjoyed working with her. But...it was not to be. You see .... I "have really great experience and have done many great things in my career and their concern is I would be bored in the job because it really is more administrative and routine HR stuff and they just don't feel it would be a good fit and don't believe in the long run I would be happy."

I really do appreciate her looking out for my happiness and all. That was sweet of her.

I don't think "Stimulus" means what Obama thinks it means

This is not encouraging....