US UNEMPLOYMENT RATE REACHES 9.8% … Stimulated Economy?
The US lost another 263,000 jobs in September, much higher than expected as the national unemployment rates rises to 9.8%. Analysts polled by Reuters had expected non-farm payrolls to drop 180,000 in September. The unemployment rate is the highest in 26 years. So does Barack Obama and Joe Biden wish to sing the praises of the stimulus package again?
U.S. employers cut a deeper-than-expected 263,000 jobs in September, lifting the unemployment rate to 9.8 percent, according to a government report on Friday that fueled fears the weak labor market could undermine economic recovery.
The Labor Department said the unemployment rate was the highest since June 1983 and payrolls had now dropped for 21 consecutive months.
Analysts polled by Reuters had expected non-farm payrolls to drop 180,000 in September and the unemployment rate to rise to 9.8 percent from 9.7 percent the prior month. The poll was conducted before reports, including regional manufacturing surveys, showed some deterioration in employment measures.
Also, previous months job losses have been adjusted to show more jobs lost than previously reported.
The government revised job losses for July and August to show 13,000 more jobs lost than previously reported. Preliminary annual benchmark revisions, released together with September’s employment report showed that total non-farm payroll employment for March would have to be revised down about 824,000.
Posted October 2, 2009 by Scared Monkeys
Barack Obama, Economy, Great Depression, Obamanation, Obamanomics, Recession | 17 comments
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17 Responses to “US UNEMPLOYMENT RATE REACHES 9.8% … Stimulated Economy?”
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Where’s Joe Biden now? Where’s his big mouth about “how well it’s going?” Look, Biden on foreign policy: OK he knows his stuff there…
domestic control of the stimulus package: NOT OK
Geez…I thought Obama declared that they saved the economy…really? The mark of any economy is the unemployment rate. Near 10%, more like 17%…LOL! Wasn’t the Stimulus supposed to be about CREATING jobs?
Look, everyone but the left wing liberal nutjob, tree-hugging, fictional believing man-made global warming leeches of society KNEW the stimulus was a SHAM…more like SHAM WOW…payback to those who were on their knees for Obama slurping it up, INCLUDING left wing MSM companies.
It’s a joke!
Waiting for the idiot leftists on this board to SPIN this as usual since they claim Red posts fictional stuff. I believe this thread like ALL of Red’s posts are FACTUAL and right from the presses; but liberals heads are so shoved in the sand they will claim this is false….
not every1 is as paranoid as you scott.
and you do not know if it was a sham, what would it have been without it.
besides, here the economics say that the biggest blows still have to come.
we are at 5% (and climbing)
THIS JUST IN… it turns out that the Olympic commitee is rascist, more after the break.
EU average is at 7,8%
esp. the ppl under the age 25 are hit here
Right on. And now Obama looks like a real dick after we just lost the Olympics. So happy for all his buddys that were holding all the worthless ghetto land in chicago hoping for the big payday.
The government figures are manipulated to keep it under ten per cent. The real figure is closser to 17%. Shades of FDR and the radio and newspapers during the 1930′s and 1940′s.
Government medling in the economy with bank holidays, bailouts and such has never made a difference.
Our country is what it is today by government medling and social programs to help the stupid and lazy people who will not educate themselves or work. We would not have a national debt if the social engineering crowd were not allowed to do their work at the expense of the citizens.
the economy has cost several self employed electricians to lose homes, autos, families, due to the housing industry.
joe biden is a complete idiot to think that people woule believe this lie he has spewed.
where are the millions of jobs joe ? obama ?
you lie !!
#5, careful john, now they will have some sort of ghetto revitalization program where they charge taxpayers billions and just have a few graphitti artists spruce up the place.
STIMULUS my ass.
Only new jobs I have seen the past 5 months is govt. jobs..
Go to Kenya and live with your half brother that resides in a shack, whom you don’t help…or maybe your illegal aunt that has stolen money from us…and you can’t even tie your tie right…it always strays to the right, I guess your throat is out of order…
#3 – LOL
Unemployment 9.8 hmmm Is that the figures from WH from the last ??? months. Is the White House on Crack? Rhetorical Question. Not a Whitney Question. I laugh every time Michigan is mentioned and they (Economists on MSM) say we have a rate of 10< unemployed. Michigan as a whole is more like 23 percent unemployed. Do they forget those who never recovered from the layoffs in 2000 .. Do they forget that all that were able to leave the state in the early 2000′s sold their homes and left for another state with a better economy. Did they leave out the fact that we have a chronic 19 percent that survive on welfare alone – and will never achieve anything more that sucking off the State 3rd forth generation. ( I forgot all the illegals that live in Dearborn that own half the gas stations in Metro Detroit who do not pay taxes) That’s is what? Invisible yet all known. That all that could when it was good – LEFT and now its up to the tax payers left over to pay the States Debt. NOW Saturn is pretty much Dead. Which is another 13k lost jobs in our State within the next year. Not to mention those Middle Class who are still employed that are being raped by the system because they are the only ones Paying into it. That our wages in Mich have been on a freeze for more than 10yrs that if you were making a wage it was for basically for life. And yet we are told That we are to be thankful Obligated to stay for the wage that we have had the same for TEN years. NO Where else to go. I am not talking about Unions either.
And Parents are Paying into their Child’s College Education for ?? them to Be ? to become ? To have a fair shake to Witness? To look forward to? to Move OUT of Michigan. Or if they stay in MI to find “Competition” of a foreign exchange students on a Visa employed by a Corporation – with Free housing and Free Auto and Twice the Money ..because they Received their Education here (yet reside in another Nation) and are sending their paycheck back to India, China ..etc.
The Accountability is so offset and With the New OBAMINATION .. pretty soon Michigan will be the Last Great State of Lakes ..which is already being taken over for its water supply. I have no more words.
[...] on Friday that the nation’s payrolls declines by yet another 263,000 jobs in September and unemployment inched up to 9.8%. According to the Department of Labor, (full stats HERE) the number of unemployed people [...]
[...] people already had regarding Obama’s presidency as who struggles with Obamacare, the economy, unemployment and the wars in Iraq and [...]
I don’t mean to be a smart a$$, but there are other factors that are scarier.
The Retail and Food Services Sales is down 3.9% over 2008.
The Industrial Production Index is down 10.7 %.
The Civilian unemployment rate (not including government workers) is up 58.1% over pre-Obama 08.
The unemployed number 15 million (this may not be all. Does not include government workers or those who have exhausted unemployment) is up 57.9% over pre-Obama.
Medium duration of unemployment is 17.3 weeks, up 68% over pre-Obama.
you can’t blame Obama for that waterboy.
just as you can’t really blame Bush for the financial meltdown.