Where are the JOBS! Obama?
By RMS941
The government reported Friday that the jobless rate rose to a 26-year high of 9.8%, up from 9.7% in August. The rate’s latest move up came as employers cut their payrolls by 263,000 jobs, far more than analysts had expected. This is my surprized look !
President Obama gave a speech today about doing everything possible to get Americans employed. While he was saying this, we all know that he is aware of companies outsourcing American jobs to overseas.
The President knows that the millions of Illegals, in the United States, are taking jobs away from Americans.
President Obama, his administration and the Dirt Bags in Congress are too concerned on providing entitlements in the form of government health care, strengthening unions, insuring that the cost of his “green” initiatives are paid for by taxpayers instead of focusing on jump starting our capitalist, entrepreneurial, free market and innovative economy so it can produce the the jobs and the wealth that drive us.
The Labor Department says that 2.4 million jobs have been lost during the recession since Obama signed the stimulus bill in February.
Economists forcast that the jobs report this morning would come out with 175,000 jobs lost. The real number was 263,000. That’s 88,000 more jobs lost than they predicted. THAT’S MORE THAN 50% MORE JOBS LOST THAN THESE ‘EXPERTS’ PREDICTED!!! I’m not sure of too many industries where one can be off by more than 50% and still keep their job.
Here is a hot one for you: Federal Reserve Chairman Ben Bernanke said Thursday that even if the economy were to grow at a 3 percent pace in the coming quarters, it would not be enough to quickly drive down the unemployment rate. Bernanke said the rate is likely to remain above 9 percent through the end of 2010.
This is the bottom line: 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 shows that the worst recession since the 1930s is still inflicting widespread pain and underscores one of the biggest threats to the nascent economic recovery: that consumers, worried about job losses and stagnant wages, will restrain spending. Consumer spending accounts for about 70 percent of the nation’s economy.
