September 2010 Unemployment Numbers.

Before the US Department of Labor released their new unemployment numbers this morning, most Conservatives expected a very, very weak economic/jobs picture, and they were quite correct in their assessments. The economic picture is bleak and the DOL report is somewhat depressing to read. Here are the high(low)lights:

1. America's economy had a net loss of 54,000 jobs last month, due in part to the massive layoff of Census workers (-114,000). State and local governments cut about 10,000 employees last month.
2. America's private sector added 67,000 jobs last month - 28,000 in health care and 19,000 in construction (10,000 was due to the end of a union strike). Manufacturing had a loss of 27,000, while retail gained 8,000 in one sector, but lost 6,000 in another.
3. 15 million Americans are unemployed (more if you count those who have given up) and the unemployment rate increased to 9.6% from 9.5%, where it was for two months.

Obviously the Recovery is a complete fraud.

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Teenage Unemployment grows in May 2010.

The Department of Labor's new unemployment/employment statistics are less than spectacular for the month of May; as the statistics reflect a growing tide of temporary Census Bureau jobs, and a slowing tide of Private Sector employment. Plus another increase in the teenage unemployment rate.

Overall Job Growth for the Month of May - 431,000.
Government/Census Bureau Job Growth - 390,000.
Private Sector/ Non Farm Job Growth - 41,000.
Private Sector/Manufacturing Job Growth - 29,000.
Private Sector/Construction Job Loss - 35,000.

The overall economic situation of America did not improve last month. The Private Sector did not create anywhere close to enough jobs. The federal government created over 90% of May's "new employment". Plus the Construction Industry (which gained 59,000 jobs in March and April combined) lost 35,000 jobs last month, not good news at all.

Total Unemployment - 9.7% (-0.2%)
Adult Men Unemployment - 9.8% (-0.3%).
Adult Women Unemployment - 8.1% (-0.1%).
Teenage Unemployment - 26.4% (+1.0%).

As a Teenager myself who cannot find a job (at this point I have given up; I'll be enlisting in the United States Navy* later this year), 26.4% teenage unemployment does not surprise me. However, the numbers are telling: Businesses are hiring who they must, who they trust, and who won't cause a bust.

The statistics are depressing. And our recession is not ending.

* - I've been wanting to enlist in the United States Navy for Two Years now, and this awful recession; no job, allows me to serve my Nation without leaving anything behind in Upstate New York.

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California at 12.6% Unemployment

So you're still asking yourself how the powers of big government might be bad for the country? Well, just ask the fine people of California who face a 12.6% unemployment rate even as the national rate is now below 10%. Now we see that CA voted for President Obama in 2008. Does the article give any further trend?

Michigan leads the nation with a 14.1 percent unemployment rate, followed by Nevada at 13.4 percent.
California was tied with Rhode Island for the third-highest jobless rate.

 No kidding. Four for four.

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Obama Approval Below 60%

Coming in with high ratings from the American people with the transition to the 44th Presidency, Barack Obama's star has fallen-- just a little bit.

Cruising in the public relations game with over 60% approval ratings for his first month in office, Gallup is reporting that President Obama's approval has fallen below that benchmark. While still over the all-important 50%, it may be a sign that the American public is beginning to become a little more uneasy with his initiatives.

Case study #1: President Obama states that he wants to slash the federal deficit by two-thirds. Instead, we're spending almost $2 trillion dollars since the beginning of 2008. While Obama wasn't President then, he was in the forefront on both previous stimulus/bailout bills. These debts are enormous considering our economy barely makes over $12 trillion a year.

Case study #2: The economy keeps falling. Despite all of the sweet talk and "brace for impact" by the government, the Dow is approaching 7,000. Unemployment will probably pick up more and we may be looking at 11% soon. The federal government could give hundreds of thousands of public works jobs in months. Still, no signs of that.

Case study #3: Gas prices are rising again. While they've been falling on the market lately, gas at the pump is up almost 10% since the President took office. The economy's been faltering, which should drive down prices. However, is this tied to the restriction of drilling signed by the President?

So where will the President's approval ratings be in a year? We'll find out, I guess.

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China's Economy In Trouble

The Chinese economy has been growing massively in the last decade. It's been growing at about 10% a year and was looking to explode into 1st World status. But the global slowdown is even affecting the Chinese.

Unemployment is now estimated to be at its highest levels since the Communist Party took over in 1949. Job creation and preservation has become a top priority of China's leaders, who are acutely aware of the role a deteriorating economy played in the 1989 Tiananmen Square protests.

Economists say that if the growth of China's gross domestic product dips below 8 percent -- a healthy rate in most countries -- it would be a disaster here. The reason is that the demand for jobs would far outpace China's ability to create them.

While the dollar was weak, American factories were able to produce more, as they were able to sell it to other countries with strong currencies. If the Chinese economy continues to be weak, then American industry could take the initiative and gain back a lot of prestige lost over the last 30 years.

Obama, the killer of success.

The economy is bad, but compared to interest rates, inflation rates, and unemployment rates :
Nearly 20 % interest rates in early 1981.
13.3 % inflation rates
unemployment peaked at 10.8% in 1982, before going down to 5.0% under Reagan.
Compared to now :
3.5 - 5.0% interest rates in 2009
I currently cannot find inflation rates as of now, but it much better then in the 1970's.
unemployment rate is about 6.7%, the higest during the entire Bush term.

So Obama says, this is the worst financial crisis since the great depression, that is lunancy, his plans for another massive bailout will hurt American business even more, and is pretty much just a massive welfare buy out of Americans.

We need to do what Reagan did, cut taxes across the board, Obama wants to raise taxes across the board - especially with the capital gains tax, which will kill business.

Obama will not help at all, he says his plan will not help at all, so the democrats elected a man that has no plan that will work, and his the perfectionist of doom and gloom?

Here comes socialism.



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