Wonkette
In these difficult times, when it seems everything is declining — corporate profits, individual incomes, assorted varieties and levels of a thing we used to call “hope” — one thing grows ever larger and more robust: our unemployment rate. Let’s hear it for the magical number 9.5, for that is the percentage of Americans who currently don’t have jobs.
When our beloved Labor Department reported a 9.4 percent unemployment rate in May, people high-fived each other in the streets because it seemed we had reached the true pinnacle of unemployment success. Who would have thought we’d be able to do ourselves one smidge better? And yet!
The American economy shed 467,000 jobs last month, and the unemployment rate rose to 9.5 percent from 9.4 percent, the Labor Department reported on Thursday. Job losses were widespread among the construction, manufacturing and business and professional services sectors.
The losses were sharply higher than economists’ expectations of 365,000 lost jobs.
Two things to note. Number one, economists all agree that jobs are a lagging indicator, which is to say, employers tend to wait until the economy’s been better for a while before they start hiring again.
We may expect employment statistics [to] look poor well past the trough of consumer spending that may occur in late 2009 and 2010. As always, savvy economic observers and investors should disregard this lagging indicator in forecasting economic direction.
Number two, Barack Obama has been in office for five whole months of this 20-month recession, so clearly the dismal job numbers are all his fault.
Job Losses Rise in June as Unemployment Reaches 9.5% [New York Times]
With any luck, some of the extra 100,000-odd unemployed not anticipated by economists a month ago are economists who lost their jobs due to sheer incompetence.
What we may need soon is a serious war. It worked last time.
Wasn’t Hopey supposed to fix this? How about that Stimulus package
with all those offers of six-figure salary jobs? I’m afraid that
the 9.5 percent wish they had change so they could buy food.
King Barry has decided to keep millions of Americans in Indefinite Income Detention.
Clearly, the 5-month average unemployment rate during the “Obama years” (sic) is equivalent to the 8-year averages of the Clinton and Bush years, which were actually years. Also, the average temperature in Antartica today is much lower than the 20-year average global temperature, so there!
Thamk goodness that the stimulus package “saved or created” 2.1 million jobs or we would really be in trouble.
I know what’ll fix this unemployment thingy! A goddam nuclear weapon detonation, somewhere in the lower 48. Then we can all get jobs as Lord Humongous’s leather slaves and/or dead people.
All of America is coming together to fix the problem — even Runner’s World magazine is providing a stimulus package in its next issue.
IMPEACH OBAMA. The world cant wait untill 2012, he needs to be frog marched out of the white house in chains today before he can do any more long term structural damage to our economy.
Jesus Christ. For what exactly?
Link Ban to Gatewaypundit?
9.5, the number of people who consider this newsworthy.
Now I see why there are so many new names on our beloved Wonkette! Wonkette commentership increases as the number of jobs decreases, right?
If he can’t fix the economy after all this time the least he could do is fool around with a woman in Argentina to keep us amused.
Better yet, he could have a fling with S Palin. Then Mark Sanford would look like an amateur and we’d forget all about those stupid job reports.
freakishlystrong: “…long-term structural damage to our economy”?
Our economy doesn’t have “structure” anymore. We all work at Wal-Mart, selling each other crap made in Southeast Asia. The Amurrican ecomony is little more than a failing brand, whose logo depicts a flaccid wang dripping AIDS and Taco Bell.
SmutBoffin: Ah yes, that’s a variation of the “Cheney Doctrine” where muslins do it.
But meanwhile in the real news….WHERE’S BUBBLES THE MONKEY, SHEEPLE???
You kids don’t remember the last couple of these. I’m not going to worry until I see Obama wearing a “Whip Inflation Now” button like good ol’ Preznit Ford.
Oh, American amnesia. Zombie Santayana is going to rise from the grave and beat us all senseless.
Once the 150,000 GOP Presidential hopefuls start campaigning this will open up a lot of jobs.
It’s a shame that so many Americans are unemployed, while Bill Kristol, Michelle Malkin, and Glenn Beck still make money.
Dad always said that life isn’t fair.
freakishlystrong: the usual crazy stuff. Obama seems to drive them bonkers. but…but…Ayres!!!
You want to know what’s wrong with our waterfront? It’s the love of a lousy buck. It’s making love of a buck - -the cushy job - -more important than the love of man!
… Isn’t it simple as one, two, three? One: The working conditions are bad. Two: They’re bad because the mob does the hiring. And three: The only way we can break the mob is to stop letting them get away with murder.
RIP, Karl.
Don Juanquete: Don’t leave home without a tribute to Karl Malden.
Also, good thing the stimulus was 40% tax cuts. We know how much the unemployed need the republican panacea. Or is it panniculis?
Don Juanquete: Amen Brother……. At the rate they are dropping in Hollywood, that could provide a nice up tick the next time the employment numbers are announced!
Sad thing is, the 9.5 number is a crock. Real unemployment, including those who have given up looking for jobs, is probably somewhere north of 15%.
Elm Hugger: Which brings to mind the simplest (and most obvious) way to bring down the unemployment rate: All you jobless losers should just kill yourself.
Go ahead, admit it. You’ve been thinking of doing it anyway. Make it look like an accident, walk in front of a bus or something, and your family collects on that $50K life insurance policy you took out in better times.
Not willing to off yourself? Well, take out one or two of your kind. Think about it! Less competition for when jobs start ticking up again! If only half of the unemployed bums in this country followed my advice, the rate would fall back to 4.5%, which is the “full employment’ baseline the government uses.
Do it for America.
Lascauxcaveman: Glenn Beck is going to read this and recommend it on his teevee program, or Keith Olberman will give you his “Worst Persons of the World” award.
Wow, good work, America! But we can be even better at keeping unemployment high. After all, some of our finest experts say we can even reach an unemployment rate of 9.6% (Sources: http://www.marketnewsvideo.com/?id=200907Recession070209&mv=1 & http://econompicdata.blogspot.com/2009/07/unemployment-jumps-can-we-please-forget.html ). If we try I’m sure we can reach that high standard of mediocrity.
freakishlystrong:
Nah. Just like going to goatse or checking out Two Girls, One Cup, if someone is dumb enough to click on a link to Gateway Pundit they get what they deserve.
Lascauxcaveman: Your plan would help boost the prison population too, by putting away all the murderers who took out their cohort. Thus this will increase the numbers of people needed to work at our ever expanding Prison industry.
Soon the two biggest industries in America will be Wal-Mart and the Prison Industry.
proudgrampa: I think I read it’s up to 16.4%. Which is nice for me, I always like to feel like I’m part of the group.
FormerDCite: I was thinking more along the lines of an uptick in the funerals and interment sector. Since police forces all around the country have been laying off cops right and left (there’s no money to pay them anymore), most of those murders will go unsolved.
The good news is that the bankers compensation pay is almost back up to 2007 numbers so that’ll help lower the unemployment numbers of nannies, limo drivers, and gardeners in Manhattan and the Hamptons
Today, we are all unemployed.
I’m not kidding. Clear out your desk. You are out of here.
Rage
Leaks
AIPAC
Ventura
The FED
McKinney
Uncle Tom
9/11 snow job
BarackNeocon
Whistleblowers
perotcharts.com
Of course this doesn’t count the blacks (15-point something percent unemployed) or the underemployed white poors like my guy. Srsly, NOBAMA, pull a miracle out of your ass or a bunch of arugula-eatin’ liberals are gonna start listening to those crazy wingnuts and start thinking it’s your fault or something.
These are “difficult times”. We are in the Bush Depression.
Repeat: Bush Depression, Bush Depression, Bush Depression. Use the goddamned phrase untill it’s a part of speech. Put the blame on the miserable cocksucker who started it.
Historically, with no exceptions, unemployment continues to rise for two to three years AFTER a recession is declared over.
Republicans know unemployment will continue to rise after this recession is finished and they’re banking on being able to blame Obama. So it’s necessary for our President to educate people to this or we’re going to see the Republicans getting traction with a lot of low information voters.
Obama has the smarts and the moxie to destroy this incarnation of the Republicans - the one that’s been ongoing since Richard “the reptile” Nixon. I hope he doesn’t miss a single base.
“Since police forces all around the country have been laying off cops right and left (there’s no money to pay them anymore), most of those murders will go unsolved.”
Good point, and hopeful news. Post the home addresses of Congress Critters and cabinet officers.
FormerDCite: aren’t wal-mart and the prison industry one and the same?