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National Unemployment Figures Worsen To 9.4%

Despite widespread and intensive efforts by the Obama White House to turn around the economy, rising unemployment figures remain the lagging indicator of some improving economic trends. May unemployment has now risen to 9.4%, or an increase of 0.5% from last month. Historically unemployment statistics tend to trail economic trends by as much as six months.unemployment-office.gif

While some retail sales and especially Wall Street stock values as well as consumer confidence have risen in recent weeks, many employers still seem to be slow at hiring new employees to answer any new increase in business activity. This is part of the reason that unemployment continues to lag behind any recent consumer pickup in business activity. Short-term business increases don't always result in such immediate increases in hiring activity.

Every unemployed American who cannot provide for themselves or their family is a major personal tragedy. Many families are terribly hurting right now. Yet because actual employment gains always historically lag behind increased business activity is little consolation to these hurting Americans right now, although it holds great promise in the coming months. In the meantime, Obama Administration efforts to support longer-term unemployment insurance protections do offer some safety net while the economy begins to self-correct from the global recession's terrible human impact.

During the worst part of the high unemployment crisis during the 1980's Reagan years recession, his government sought to dismiss the high unemployment figures as some sort of "part of the cure to fix the economy" which really made no sense at all. The fact of the matter is that unemployment back then, as now, are all lagging signs of business trends that are at least moving in a positive direction. And like the 1980's, an eventual big business rebound did create some boom economic times and pull up employment figures as well.


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Comments (8)

Mac Lorry:

Last summer's high oil prices are in part responsible for the economy crises, at least for the timing of it. We know now that much of that price increase was due to speculation by investors. That speculation was possible because of a rule change that allowed those who couldn't take delivery of the oil to buy it anyway. This opened the market to anyone with money to invest. Such deregulation was soundly criticized by Democrats during last year's campaign season. Well the speculators are at it again and we have seen oil prices rise without regard to supply and demand. So why hasn't the Obama administration and/or the Democrat controlled congress put the old rule back in place, that only those who can take delivery of oil can buy oil? Wouldn't that lower oil prices and help the economy more quickly bring unemployment down?

JLawson:

"Wouldn't that lower oil prices and help the economy more quickly bring unemployment down?"

What makes you think there's any interest in lowering oil prices, Mac?

US drilling's been blocked, oil shale development's been blocked, I'm not sure of the current state of refinery expansions but I wouldn't be surprised if they were blocked also.

Carter at least authorized the Alaskan Pipeline and drilling in Alaska. Contrast that with what the current administration doing...

Stan25:
Carter at least authorized the Alaskan Pipeline and drilling in Alaska. Contrast that with what the current administration doing...

The Obama people have now even shut down the drilling in Alaska. Prudoe Bay is a ghost town. Next will be the gold mining. All in the name of the global warming God

Mac Lorry:
What makes you think there's any interest in lowering oil prices, Mac?

Well I really don't think Obama is interested in lowering oil prices, but here's another example where democrats criticized Bush, but when it's their turn at bat, they do the same thing. It's up to conservatives to point out that whenever Obama or Democrats do the same thing Bush was doing then they are admitting that Bush was right. By 2012 there will be a long enumerated list proving the "change" theme was a lie and were there was change it was a failure.

One way to get Americans to buy small cars is to let gas prices go back to $4 per gallon, and with the carbon tax, they could be $5 or $6 a gallon.

stuart berry:

can you send more daddeys gearls

GarandFan:

"Despite widespread and intensive efforts by the Obama White House to turn around the economy..."

Oh? And besides passing a big liberal wish list of 'shovel ready' projects that obviously weren't, just exactly what else has Barry done other than pay off his union supporters? What's Barry and company going to do when their car companies produce products consumers don't want?

JLawson:

"What's Barry and company going to do when their car companies produce products consumers don't want?"

Remove the competition, naturally. After all, it's not what the CONSUMERS want - those idiots think that their needs and wants are more important than the government's output. Anything that might fulfil what THEY want should be legislated against.

Oh, you'll find this funny.

REPORT: Tata confirms Nano U.S.-bound in around two years
A $2500 car - though by the time you add enough junk to get certified in the US you're probably looking at around $5k. But then again, even at that price, it's darn near disposable for basic transportation. Run it for a couple of years, trade it in on a new one...

It'd kill the used small-car market. And even if accessories like air conditioning cost an extra grand, it'll be popular as a city or short-range commuter car. (Come to think of it, at that price it'd be cheaper than a Segway.)

Of course, TaTa could be the new Yugo or Daiwoo. Time will tell...

engineer:

JLawson, I don't see the hookup points for the mower deck on the Nano.


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Publisher: Kevin Aylward

Editors: Lee Ward, Larkin, Paul S Hooson, and Steve Crickmore

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