... then goes into some crazy justification by injecting Christmas and the pope:
The BL RAG is dedicated to the idea of free expression, thus we welcome and encourage reader commentary on current events and issues, music, sports, or other topics of interest, no matter what one's political leanings or worldview.
Front Page Section Editors: Machiavelli, Skinnydipinacid, and Redbeard
Miscellanea Editor: Zoy Clem
Poetry Editor: Lenny
Music Editors: see schedule below
Site Editors: Skinnydipinacid and Zoy Clem
Maintenance Man: Master Admin Dude
Eric Olsen, Fornax, GrayRider, Winston, Jimmmco, and WesMorgan1
KRAG Music Section Schedule:
Sunday - Jgeagle5
Monday - Rhythm & Truth
Tuesday - Machiavelli
Wednesday - GrayRider
Thursday - Skinny
Friday - Fornax
Saturday - Zoy Clem
On-call - Schwabman
... then goes into some crazy justification by injecting Christmas and the pope:
Senate Majority Leader, Harry Reid, said recently that rich people don't create jobs.
Because I say that, Mr. President, every shred of evidence contradicts this red herring. For example, there have been many outlets, but I’ll concentrate on one. National Public Radio went looking for one of these fictitious millionaire job creators. A reporter reached out to the business groups and a tax lobby in the Republican Congress hoping to interview one of these millionaires. Days ticked by with no luck. Many of our job creators are like unicorns, they're impossible to find and don't exist.
Odd really, my boss is a millionaire, and he employs hundreds of people. Come to think of it, most of the people that I've worked for over, over the years, had money and took risks with it, creating jobs. I don't really remember ever being hired a poor person.
I'm praying that my current boss is even more successful so he'll need to hire even more folks.
I wonder how many people Mr. Reid employs...after all, he's certainly a millionaire.
A surprising increase, in light of the "Summer Of Recovery."
New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.
Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 500,000 in the week ended August 14, the highest since mid-November, the Labor Department said on Thursday.
With looming massive tax increases due to take affect 1/1/11, depressed consumer spending and a rising deficit, the prospect of employers starting to hire grows dimmer by the week.
A recent Rassmussen poll shows that 48% blame Obama for the state of the economy while 47% blame Bush.
Looks like 'O' owns it now.
Total Jobs Created for the Month of May 2010:
431,000 jobs created (helped with the creation of 411,000 census jobs)
41,000 jobs created in the private sector (well short of the 500,000 jobs predicted by U.S. economists and even Joe "the Big Effing Deal" Biden)
Well, I feel better now, don't you?
WASHINGTON (AP) -- Job creation by private companies grew at the slowest pace of the year in May, even while the hiring of temporary census workers drove overall payrolls up 431,000. The unemployment rate dipped to 9.7 percent as many people gave up searching for work.
The Labor Department's new employment snapshot released Friday suggested that outside of the burst of hiring of temporary census workers by the federal government many private employers are wary of bulking up their work forces.
That indicates the economic recovery may not bring relief fast enough for millions of Americans who are unemployed.
Virtually all the job creation in May came from the hiring of 411,000 census workers. Such hiring peaked in May and will begin tailing off in June.
By contrast, hiring by private employers, the backbone of the economy, slowed sharply. They added just 41,000 jobs, down from 218,000 in April and the fewest since January.
The president spoke to a trucking company today in Maryland calling the numbers a sign that "the economy is getting stronger by the day." Ironically while that was being claimed, the markets dropped sharply.
How are they going to explain these numbers, most of which was driven by temporary census jobs, when those same jobs are eliminated soon?
WASHINGTON (MarketWatch) -- Boosted by hiring for the Census and a rebound from bad weather, the U.S. economy created 162,000 jobs in March, the largest seasonally adjusted increase in nonfarm payrolls in three years, the Labor Department reported Friday.
Nonfarm payrolls rose for just the third time in the past 27 months, aided by the hiring of 48,000 temporary workers to conduct the Census. Excluding the Census workers, payrolls rose by 114,000.
As it happens, that's the largest gain in three years even when the Census hires are discounted. It's also a broad improvement, as opposed to a single-industry boost:
Payroll gains were broad based, with 60% of all industries adding workers in March.
Goods-producing industries' payrolls rose by 41,000, the first increase since March 2007. Manufacturing payrolls increased by 17,000, with 58.5% of manufacturing industries hiring. Manufacturing hours increased by half an hour to 41 hours per week, with 3.7 hours of overtime on average.
Construction employment rose by 15,000, likely a rebound from unseasonably bad weather in February.
Service-producing industries added 121,000, including 39,000 in government.
The overall unemployment rate stayed at 9.7%, primarily because the labor force grew by 398,000 workers. (I think we often forget that growth when we compare rates from month to month.)
Most reviews of the latest data are quick to point out that one month's improvement does not, in any way, address questions of sustained growth in the job market. They're certainly correct in reminding us of that fact, but after three years of this, I'd like to think this news cause for guarded optimism. I was particularly pleased to see that almost 60% of manufacturing concers were hiring last month.
Let's hope that next month's activity builds on this growth...
The Labor Department says the economy lost 190,000 jobs in October, less than September, but still enough to send the unemployment rate to 10.2%... the first time unemployment has topped 10% since 1983. To date, nearly 16 million people can't find jobs.
Fox News explains:
The Labor Department said Friday that the economy shed a net total of 190,000 jobs in October, less than the downwardly revised 219,000 lost in September. August job losses were also revised lower, to 154,000 from 201,000.
But the loss of jobs last month exceeded economists' estimates. It's the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.
Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.
The jobless rate rose to 10.2 percent from 9.8 percent in September. The jump reflects a sharp increase in the tally of unemployed Americans, which rose to 15.7 million from 15.1 million. That was much larger than the net loss of jobs, which is based on a survey of businesses.
Economists say it could climb as high as 10.5 percent next year because employers remain reluctant to hire.
Courtesy of News Busters
First Campbell Brown calls BS on the White House on the FOX controversy, now CBS challenges the Obama administration on jobs created by the stimulus package. Whoa...dude!! What's up with that? Are we suddenly living in a parallel universe?
Courtesy of the Committee on Ways and Means:
The table below compares the White House's February 2009 projection of the number of jobs that would be created by the 2009 stimulus law (through the end of 2010) with the actual change in state payroll employment through September 2009 (the latest figures available). According to the data, 49 States and the District of Columbia have lost jobs since stimulus was enacted. Only North Dakota has seen net job creation following the February 2009 stimulus. While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the Nation has already lost a total of 2.7 million – a difference of 6.2 million jobs.
To see how stimulus has failed your state, see the table below.