Unemployment is back up to 8.3%; Hiring back to 08 Recession levels

[JohnC]

Seasonally adjusted unemployment rose to 8.3% last month, from 7.4% in October.

[url=http://www.gallup.com/poll/159104/unadjusted-unemployment-shoots-back.aspx?utm_source=alert&utm_medium=email&utm_campaign=syndication&utm_content=morelink&utm_term=All%20Gallup%20Headlines%20-%20Economy]U.S. Unadjusted Unemployment Shoots Back Up[/url]

Also, we're back to 2008 recession hiring intentions:

U.S. small-business owners' net hiring intentions for the next 12 months plunged to -4 in November, matching the lowest level recorded by the Wells Fargo/Gallup Small Business Index. The previous low was also -4 in [b][u]November 2008[/u][/b].

[url=http://www.gallup.com/poll/159098/small-business-owners-hiring-intentions-plunge.aspx?utm_source=alert&utm_medium=email&utm_campaign=syndication&utm_content=morelink&utm_term=All%20Gallup%20Headlines%20-%20Economy]U.S. Small-Business Owners' Hiring Intentions Plunge[/url]

Higher taxes going to help the economy as the Keynesian economists believe? We'll see, but I don't think so and I believe this is the beginnings of the proof it doesn't.

:coffee:

[Guest 6.8 AR]

It's much higher than that, but it's all in how you count. In Washington DC, they count really funny, most of the time.
It's also going to get much worse.

[JohnC]

[quote name='6.8 AR' timestamp='1354829451' post='856038']
It's much higher than that, but it's all in how you count. In Washington DC, they count really funny, most of the time.
It's also going to get much worse.
[/quote]

I agree it is much higher than reported.

I also see this getting worse over the next few months as well.

[mcurrier]

It didn't rise from Oct. to Nov., it never went down. That 7.4% is a bogus number. For the past 48 months it has been steady, well... steadily rising. But then! October. The month before the [i]election[/i], it miraculously goes down (just to help someone who's name begins with 0), then it goes back up??? GIVE ME A BREAK!!!

[Guest 6.8 AR]

Anything to get Herr Fuhrer re-elected.

[JohnC]

[quote name='mcurrier' timestamp='1354836143' post='856087']
It didn't rise from Oct. to Nov., it never went down. That 7.4% is a bogus number. For the past 48 months it has been steady, well... steadily rising. But then! October. The month before the [i]election[/i], it miraculously goes down (just to help someone who's name begins with 0), then it goes back up??? GIVE ME A BREAK!!!
[/quote]

It had to rise nonetheless as lost of businesses laid off and some closed.

[mcurrier]

[quote name='JohnC' timestamp='1354838598' post='856112']
It had to rise nonetheless as lost of businesses laid off and some closed.
[/quote]True, but it rose from whatever the true number was, not from the phony-baloney 7.4% dream number.

[AdotOdot4]

You have all the campaign workers looking for work again

[mcurrier]

[quote name='AdotOdot4' timestamp='1354848175' post='856232']
You have all the campaign workers looking for work again
[/quote]All but 0bama's, he's still campaigning.

[Mark@Sea]

I think the administration is planning and preparing for breadlines. Hard to use an EBT when your address is the local tent city. O'care regulations are going to make the remaining job market look like a chum line in a shark fishing tournament. One way or another, everyones' taxes are going to increase - some dramatically. There will be a domino effect, as more lose their jobs more jobs will be lost - dropoff in demand for goods and services as people are unable to pay for even food and shelter.
Small business is taking one body blow after another. There are 3 classes of people looking pretty right now - the welfare class, the politically connected, and gov't employees.
Obama/democratic party cannot allow any meaningful 'entitlement' reform, so the presses at Treasury are going to continue rolling 24/7. Dramatic inflation is inevitable, as the night follows the day cash will buy less. Foodstuffs are already sold in reduced portions at the same price.
At some point, the financial ice will crack, and we're all in for a swim.

[Erik88]

Nice post Mark. I wish it wasn't so true.

[tnhawk]

Obama was only concerned with one unemployment figure - His. Now that the citizens of this country were stupid enough to give him four more years, he thinks the economy is doing fine. Now it's time for more golf and vacations.

[mcurrier]

[img]http://cdn.conservativebyte.com/wp-content/uploads/2012/12/New-Debt-Ceiling1.jpg[/img]

[Guest 6.8 AR]

And it's already being reported lower. They won't ever quit this crap. Of course with 540,000 falling off the roles,
it puts it back in the high 7's or some malarky I heard this morning.

[mcurrier]

[quote name='6.8 AR' timestamp='1354897003' post='856475']
And it's already being reported lower. They won't ever quit this crap. Of course with 540,000 falling off the roles,
it puts it back in the high 7's or some malarky I heard this morning.
[/quote]
Yeah, and when everyone else drops off the rolls because either all the baby boomers suddenly retired, or society has crashed and has gone to a barter system, or everyone is just dead, then it will be down to 0% and 0bama can praise himself for being the first president to ever have Zero percent unemployment.

[personDJ]

[quote name='JohnC' timestamp='1354828781' post='856027']
Seasonally adjusted unemployment rose to 8.3% last month, from 7.4% in October.

[url="http://www.gallup.com/poll/159104/unadjusted-unemployment-shoots-back.aspx?utm_source=alert&utm_medium=email&utm_campaign=syndication&utm_content=morelink&utm_term=All%20Gallup%20Headlines%20-%20Economy"]U.S. Unadjusted Unemployment Shoots Back Up[/url]

Also, we're back to 2008 recession hiring intentions:

U.S. small-business owners' net hiring intentions for the next 12 months plunged to -4 in November, matching the lowest level recorded by the Wells Fargo/Gallup Small Business Index. The previous low was also -4 in [b][u]November 2008[/u][/b].

[url="http://www.gallup.com/poll/159098/small-business-owners-hiring-intentions-plunge.aspx?utm_source=alert&utm_medium=email&utm_campaign=syndication&utm_content=morelink&utm_term=All%20Gallup%20Headlines%20-%20Economy"]U.S. Small-Business Owners' Hiring Intentions Plunge[/url]

Higher taxes going to help the economy as the Keynesian economists believe? We'll see, but I don't think so and I believe this is the beginnings of the proof it doesn't.

:coffee:
[/quote]
I read today that unemployment rate is lower now than anytime in the last year

[mcurrier]

[quote name='personDJ' timestamp='1354902335' post='856529']
I read today that unemployment rate is lower now than anytime in the last year
[/quote]
Then it [i]must[/i] be true.

[Hershmeister]

Unexpectedly of course

[JohnC]

[quote name='personDJ' timestamp='1354902335' post='856529']

I read today that unemployment rate is lower now than anytime in the last year
[/quote]

Much like it was reported before the election, there was something like 20,000 folks not counted as unemployed because California supposedly didn't send the info in time to the BLS. These numbers from the BLS just do not represent the tons of jobs lost last month. Thousands got laid off, some places closed up, and a lot of folks got reduced work hours because the new Obamacare law making full time 30hrs.

[Seabeejason]

With Obama Care set to kick in and a huge tax increase at the same time, it is all that will be needed to push the economy over the cliff.

Forget recession, say hello to the DEPRESSION.