MadHound (33,702 posts)
The sad truth behind yesterday's unemployment numbers
"In reality, the jobs gained are a drop in the bucket compared to those lost during the recession. In the downturn that started in 2008, the US economy lost 8.9 million jobs, and if previous economic trends had continued, another 5.9 million jobs would have been added. Since the end of 2009, the economy has added only 5.7 million jobs.
At February’s rate of job growth, the US economy would not get back to the pre-recession level of unemployment until 2017.
By and large, the new jobs created pay much less than those lost during the crash. According to Friday’s figures, average hourly earnings for production workers have risen by only 2 percent over the past year, a figure wiped out by rising prices.
In addition to paying lower wages, an increasing number of new jobs are part time. Compared to late 2007, 5.8 million fewer people in the US are now working full time, but 2.8 million more are working part time. The share of people working part-time has grown from 16.9 percent at the start of the recession to 19.2 percent today."
http://www.wsws.org/en/articles/2013/03/09/econ-m09.html
Ra Ra, unemployment dropped two tenths of one percent Meanwhile, with the Meatcleaver Austerity about to take hold, and Austerity Lite waiting in the wings, US workers are in for ever more hurt. But hey, the 1% can now party like it's 2007, the DOW hit a new record high
Reagan, and every single president since him have massaged the unemployment numbers to make things look as rosy as possible. This is but the latest example.
http://www.democraticunderground.com/10022481402Why do you hate the black man in office?
Why can't you just swallow the propaganda coming from the government and praise 0bama for his brilliant economic policies?
Must be because he's black.
DCBob (14,426 posts)
6. No doubt many of these jobs are low paying and temporary.
For sure much of that is due to company greed but it also just going to take a long time to repair the economic mess the Bush era created.
Ohh I see it's still all Bush's fault.
If you compare the economies under Bush vs the economies under 0bama, the Bush years were very good.
Up until around 2007 when something happened, I forget what, but since that happened the economy has been in the shitter.
Egalitarian Thug (6,227 posts)
12. That's the BS that we are fed and expected to eat with a smile. The Main Street economy
could have been turned around and roaring better than it was in the 90s if there were any will to make it happen among those with the power to do so.
Lie #2: It took 8 years to create this mess. No, it took 90 days and out government's absolute refusal to enforce existing laws.
Lie #3: This is all bush & the republican's fault. No, it was a deliberate, bipartisan effort begun under reagan and accelerated to warp speed under Clinton with Democrats controlling Congress for most of that time. BushCo just pulled the trigger.
quaker bill (7,010 posts)
4. While it is not all great news
Things around me in the real world are getting better. People are in fact going back to work. 6 or perhaps 8 weeks ago now, construction projects started again. People I speak to in this regard have said that "the lights just came back on".
There are lingering impacts and recovery is nowhere near complete, but something is suddenly happening out there, and the pace is increasing. I have heard different from the pundit and commentators, but I trust what I see on the ground.
What I see on the ground is a lot of people struggling to make it, every few weeks gas prices seem to rise, every trip to the grocery store costs more and you bring home less food, people dipping into their 401 k's to pay the mortgage on a house that is worth much less than what they owe. I see people working their butts off and if they were lucky enough to get a raise this year it was wiped out by the payroll taxes going back up. Now we have sequester and the 0bama administration hell bent on making people suffer all so he can help his party win a freaking election. Yep good times are here again.
abelenkpe (6,815 posts)
11. Economy seemed to be doing well
But I know hundreds just recently laid off from three different studios. (Because y'know labor in other countries is far cheaper) Add in sequester layoffs and furloughs and wait a few months. The forced austerity will ripple out through local economies soon enough.
Thanks Republicans!
The republicans passed 2 bills to fix sequester and Harry Reid put them right in the trash can, you should thank Dingy Harry for all this.
You DUmmies voted for this, you got this so, do I even need to say it?
