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Author Topic: Jobless Rate Soars to 8.1 Percent, Highest Since 1983  (Read 1382 times)

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Offline TheSarge

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Jobless Rate Soars to 8.1 Percent, Highest Since 1983
« on: March 06, 2009, 08:36:08 AM »



WASHINGTON -- The government says 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 Labor Department's report shows 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.

http://www.foxnews.com/politics/2009/03/06/report-expected-job-losses/
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Offline DumbAss Tanker

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Re: Jobless Rate Soars to 8.1 Percent, Highest Since 1983
« Reply #1 on: March 06, 2009, 09:42:54 AM »
I doubt it's topped out yet.  Just a SWAG but I'd say all things considered including several shoes that haven't dropped yet, and the quality of economic vision displayed by the Obamanauts so far, we're probably good for something real close to 10% before it turns around.
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Offline vlad335

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Re: Jobless Rate Soars to 8.1 Percent, Highest Since 1983
« Reply #2 on: March 06, 2009, 02:17:28 PM »
A girl I work with told me that her husband got laid off last week and fully intends to collect unemployment for as long as he possibly can. I get the feeling that most everyone who is or will be collecting unemployment benefits is going to do the exact same thing. Obama I believe increased the time that one can collect as well.
A little side effect of this is that these people will be buying the bare necessities only which will only hurt the economy further, causing more layoffs which in turn will cause more people collecting unemployment, etc.

A perfect storm.
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Offline Baruch Menachem

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Re: Jobless Rate Soars to 8.1 Percent, Highest Since 1983
« Reply #3 on: March 07, 2009, 01:42:36 PM »
Very much the perfect storm.    It dosnt help that so many people are so far under water with their credit. (Me included)

It doesnt help that Obama seems to be playing the role of Nero, master violinist.
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