Why s the unemployment rate still climbing?
http://news.yahoo.com/s/ap/20090904/ap_on_bi_go_ec_fi/us_economy
http://news.yahoo.com/s/ap/20090904/ap_on_bi_go_ec_fi/us_economy
Anonymous
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Obama lied Millions of Jobs died.
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The recession is just now winding down, and this time there's no cheap and easy credit machine (which was the private sector equivalent of expanding the money supply).
The party that started in 1999, kicked into high gear in 2003, and then had its wheels start falling off in 2007 is definitely over, and it's not coming back any time soon.
Who would loan investment banks 10s of billions for every billion they put up to buy risky sub-prime loans, and who is going to offer a huge supply of risky loans, and so on?
Logicalinsanity
Like BigD said, it is a lagging indicator. Consider the ripple effect. If you throw a stone in the water, it will take awhile for the toy boat 20' away to bounce up and down from the ripples.
It has only been quite recently that the economy showed signs of being on the upswing. Once employer confidence is established, they'll start hiring again.
I say give it six months. My prediction is that employment will start rising steadily in the first quarter of next year.
Kevin M
You ain't seen nothing yet it will be in the double digits by the end of the year.In reality when you count in the people that have given up looking and no longer receiving benefits the national unemployment rate is well into the double digits.Lagging indicator my azz,companies will continue to lay off for months to come.
capeshoregroup
Instead of sending rebate checks to everyone which would have immediately stimulated the economy, Obama chose to spend the money on pork barrel projects that will take years to develop.
The only real stimulus going on right now is the people who are able to refinance and purchase homes.