From the Associated Press thru one of the local TV stations I get news alerts from.
Jobless Rate Bolts To Highest Since 1983
Employers Slash 651,000 Jobs
WASHINGTON -- The nation's unemployment rate bolted to 8.1 percent in February, the highest since late 1983, as cost-cutting employers slashed 651,000 jobs, the government reported Friday.The Labor Department's report showed America's workers being clobbered by a relentless wave of layoffs. The net loss of 651,000 jobs in February came after even deeper payroll reductions in the prior two months, according to revised figures. The economy lost 681,000 jobs in December and another 655,000 in January.
The jobless rate topped 10 percent during the early 1980s recession.Traders weren't taking any chances Friday, sending stock futures lower ahead of the unnerving reading on the job market. With companies across all industries clobbered by weak consumer spending and loan defaults, the last thing investors want to hear is that Americans are getting laid off at a faster-than-anticipated pace.
Huh, the last time it was this high was 25 months into Ronald 'Voodoo Economics' Reagan's first (shoulda been only) term in office.
Imagine that there would be that many people unemployed during a Rethuglican presidency. Hard to believe ain't it....NOT!
6 comments:
Scary prt is that it isn't over yet! Bad Moon Rising, I'm afraid!
It's scary alright, Jim.
I'm willing to bet we hit 10% before Memorial Day.
You keep attacking the republicans but you realize until they get enough votes to block anything there pretty much a non issue. Are you angry that you have not been able to get work? Maybe you should tell your Democrap hero's that raising taxes on people/businesses that make more than 250k. Who do you think employs people besides the government? I saw a figure that said that 90% of employers in the U.S. are SMALL BUSINESS! When you tax the shit out of someone where is the reward for striving to build your business over that 250k mark? If you can hold your profit below that why expand? Why add more employees? People that are over that 250k mark will scale back to avoid the tax. This means less jobs. I think both the Republicans and the Democrats stabbed, raped, then killed the "American Dream". Where is the motivation for entrepreneur to succeed? The republicans are just as bad. Spending gobs of money on iraq and other useless crap I for one am angry at both parties. Both have been irresponsible with the power we have bestowed to them.
First of all, you're a pussy for commenting as Anonymous.
Second, I never said the Democrats were my heroes.
Third, 90% is a bloated number put forward by the Rethuglicans and their scare tactics.
Fourth,the 250k mark is on personal income not business.
Fifth, before Bush and the rest of the Rethuglicans gave the 'rich' a big tax break people were actually making a good wage. I know this for a fact because I saw my pay reduced after the tax breaks.
Sixth, Reagan's voodoo economics and his 'trickle-down theory' never worked and never will.
Now I suggest you look at my sidebar, and in case you can't find it I'll show you what's there.
"Comments from all readers are welcome and appreciated. Open discussion is allowed, trolls are not. As I am the editor of this blog, I am the one who makes the decision on what may be posted in the comments section. Free speech is a wonderful thing, but comments from trolls will be removed...and I decide who a troll is here."
LOL! Isn't it so typical that the righty-tighty reactionaries have to post as 'anonymous' to protect their delicate identities!?
I used to have one on my blog, I nicknamed him "Nonny" (short for anonymous). I think he was a troll who I had kicked off who didn't want to be recognized.
Shea,
Yes, they have to hide in hopes they'll never be discovered. They're all so afraid of Limpballs, and don't want any of they're cronies finding out they visited a Liberal blog for fear of condemnation.
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