And the June unemployment rates are IN!

The US economy lost 125,000 jobs in June, more than economists had forecast, as thousands of temporary census jobs ended and private hiring grew less than expected.

And though the unemployment rate unexpectedly fell to 9.5% from 9.7%, the lowest in a year, it was largely due to more people dropping out of the labor force.

SO going back to school perhaps? Leaving the country? I dont know but a little more info would be nice?

The report was the latest sign that the economic recovery may be “changing” faltering.

“Overall what this does is it reinforces the market’s view that the U.S. recovery is losing steam,” said Greg Salvaggio, vice president of trading at Tempus Consulting in Washington.

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Published in: on July 2, 2010 at 9:30 am  Leave a Comment  
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Jobless rate over 10%…highest in over 16 years

I understand the events that happened at Ft Hood, are devestating and will be disected by the media over the next week, I think its important not too lose focus on other events inside the U.S, and to bring to light that the unemployment rate has surpassed 10 percent for the first time since 1983 — and is likely to go higher.

Nearly 16 million people can’t find jobs even though the worst recession since the Great Depression has apparently ended according to congress.

Many economists worry that persistently high unemployment could undermine the recovery by restraining consumer spending, which accounts for 70 percent of the economy.

The good news, we are going to into the holiday season which still usually means big bucks for retailers, unfortunelty with the economy it will most likely lead to a higher crime rate as well ie:Theft.

While the unemployment rate hasn’t yet topped the post-World War II high of 10.8 percent set in December 1982, many experts say this recession is worse.

The unemployment rate was much lower when the recession began — 4.9 percent in December 2007, compared with 7.2 percent in July 1981, when a brutal downturn started. That means the current job cuts have been much steeper to get to the 10 percent mark.

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Published in: on November 6, 2009 at 8:09 am  Leave a Comment  
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There is no life left at Saturn. Another G.M brand dead.

Yesterday Penske Automotive Group announced that it has cancelled plans to acquire General Motors’ Saturn unit. As a result, GM said it will wind down the brand and dealer network, potentially putting 13,000 Saturn dealership jobs at risk.
The reason the gave for walking away from the deal was that they were unable to find a manufacturer to make Saturn cars when GM stops producing models sometime after the end of 2011.

So just like Oldsmobile, Saturn will become a collectors item dead.

Sure glad we gave them that bailout money and cash for clunkers to keep going. As the rest of the bailout money has shown all we did was delay the inevitable at the cost of tax payers now it just looks like a few more thousand other folks joining the unemployment line.

Sad

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Published in: on October 1, 2009 at 7:27 am  Leave a Comment  
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