Author Topic: Employers Slash Jobs by Most in 5 Years (ah, but unemployment rate DIPS)  (Read 3208 times)

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Offline Wretched Excess

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Employers Slash Jobs by Most in 5 Years
Employers Slash 63,000 Jobs in February, Most in 5 Years, Feeding Recession Fears

WASHINGTON (AP) -- Employers slashed jobs by 63,000 in February, the most in five years, the starkest sign yet the country is heading dangerously toward recession or is in one already.

The Labor Department's report, released Friday, also showed that the nation's unemployment rate dipped to 4.8 percent as hundreds of thousands of people -- perhaps discouraged by their prospects -- left the civilian labor force. The jobless rate was 4.9 percent in January.

Job losses were widespread, with hefty cuts coming from construction, manufacturing, retailing, financial services and a variety of professional and business services. Those losses swamped gains elsewhere including education and health care, leisure and hospitality, and the government.

The latest snapshot of the nation's employment climate underscored the heavy toll of the housing and credit crises on companies, jobseekers and the overall economy.

To provide relief to persistent credit problems, the Federal Reserve announced Friday additional steps to inject cash into the nation's financial system to keep banks lending to customers.

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jeez.  hysterical much? :whatever:

" . . . perhaps discouraged by their prospects . . . ";  aren't boomers beginning to retire?


Offline DixieBelle

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^that statement makes no sense - if people are "discouraged by their prospects" then clearly they don't need a job that bad. There will ALWAYS be jobs. It's just a matter of how willing you are to do said job and what rate of pay you're willing to accept.

Ugh. I hate agenda driven media.
I can see November 2 from my house!!!

Spread my work ethic, not my wealth.

Forget change, bring back common sense.
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No, my friends, there’s only one really progressive idea. And that is the idea of legally limiting the power of the government. That one genuinely liberal, genuinely progressive idea — the Why in 1776, the How in 1787 — is what needs to be conserved. We need to conserve that fundamentally liberal idea. That is why we are conservatives. --Bill Whittle

Offline Wretched Excess

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^that statement makes no sense - if people are "discouraged by their prospects" then clearly they don't need a job that bad. There will ALWAYS be jobs. It's just a matter of how willing you are to do said job and what rate of pay you're willing to accept.

Ugh. I hate agenda driven media.

well, if you have stark signs of danger, you pretty much have to work discouragement in there somewhere.  I am going to suggest to scrappleface or the folks at the onion that they write a story headlined, "Employed Man Commits Suicide After Reading that Unemplyment Drops".


Offline DixieBelle

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^that statement makes no sense - if people are "discouraged by their prospects" then clearly they don't need a job that bad. There will ALWAYS be jobs. It's just a matter of how willing you are to do said job and what rate of pay you're willing to accept.

Ugh. I hate agenda driven media.

well, if you have stark signs of danger, you pretty much have to work discouragement in there somewhere.  I am going to suggest to scrappleface or the folks at the onion that they write a story headlined, "Employed Man Commits Suicide After Reading that Unemplyment Drops".


LOL! And a lot of people will take it seriously!!

This begs the question....what of those who are "discouraged"? Do they just sulk at home and live off air? I guess they have money socked away to be able to stop looking for work.
I can see November 2 from my house!!!

Spread my work ethic, not my wealth.

Forget change, bring back common sense.
-------------------------------------------------

No, my friends, there’s only one really progressive idea. And that is the idea of legally limiting the power of the government. That one genuinely liberal, genuinely progressive idea — the Why in 1776, the How in 1787 — is what needs to be conserved. We need to conserve that fundamentally liberal idea. That is why we are conservatives. --Bill Whittle

Offline Wretched Excess

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^that statement makes no sense - if people are "discouraged by their prospects" then clearly they don't need a job that bad. There will ALWAYS be jobs. It's just a matter of how willing you are to do said job and what rate of pay you're willing to accept.

Ugh. I hate agenda driven media.

well, if you have stark signs of danger, you pretty much have to work discouragement in there somewhere.  I am going to suggest to scrappleface or the folks at the onion that they write a story headlined, "Employed Man Commits Suicide After Reading that Unemplyment Drops".


LOL! And a lot of people will take it seriously!!

This begs the question....what of those who are "discouraged"? Do they just sulk at home and live off air? I guess they have money socked away to be able to stop looking for work.

they move into their mom's basement and join DU.

the whole phrase, "perhaps discouraged by their prospects", shouldn't be in the story.  it is utterly subjective, requires conjecture, and is beyond the reporter's ability to know.  and it's absurd on it's face.  he, and he alone, knows the mental state of "hundreds of thousands" of people?  must be a busy guy.

he avoids the appearance of blatant bias by use of the weasel word "perhaps", which also has no place in a hard news story.  perhaps they all freaking died, or were abducted by UFOs.  maybe they all joined a convent, or hare krishna. 

this story just over the top.


Offline DixieBelle

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^exactly!!! Obviously the intent was to keep reinforcing the idea that our country is going down the crapper. It's like yelling "fire" in a theater in my opinion. Personally, I think our economy in general will be fine. It's cyclical and we're due for some corrections. Unprecedented growth always levels out at some point. The housing crunch is a blip as evidenced by another post here (only .83% of mortgages are in default) the market will correct itself.

But articles like this one only serve to generate panic which naturally forces people to act rash - like voting for Dem.  :uhsure:
I can see November 2 from my house!!!

Spread my work ethic, not my wealth.

Forget change, bring back common sense.
-------------------------------------------------

No, my friends, there’s only one really progressive idea. And that is the idea of legally limiting the power of the government. That one genuinely liberal, genuinely progressive idea — the Why in 1776, the How in 1787 — is what needs to be conserved. We need to conserve that fundamentally liberal idea. That is why we are conservatives. --Bill Whittle

Offline Wretched Excess

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^exactly!!! Obviously the intent was to keep reinforcing the idea that our country is going down the crapper. It's like yelling "fire" in a theater in my opinion. Personally, I think our economy in general will be fine. It's cyclical and we're due for some corrections. Unprecedented growth always levels out at some point. The housing crunch is a blip as evidenced by another post here (only .83% of mortgages are in default) the market will correct itself.

But articles like this one only serve to generate panic which naturally forces people to act rash - like voting for Dem.  :uhsure:

yeah, there was no way that the galactically overvalued real estate market wasn't headed for a correction, and that it would hurt a bit once it got here.

Offline NHSparky

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I guess all those seasonal jobs had to go somewhere.  On a lighter note, initial jobless claims are still under 350K (400K is traditionally the benchmark of a healthy employment market) and GDP, while slowing, is nowhere near negative.

But fret not, fellow CC'ers!  The MSM will talk this economy into the ground yet!
“Any man who thinks he can be happy and prosperous by letting the government take care of him better take a closer look at the American Indian.”  -Henry Ford