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Old 08-07-2009, 11:11 AM   #1
darius15
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Default US Unemployment Rate drops for the first time in 15 months

The unemployment rate fell to 9.4 percent as the U.S. economy shed 247,000 jobs in July, the government announced on Friday morning. The drop -- the first in 15 months -- comes as a surprise; economists had expected the rate to rise to as high as 9.7 percent.

By a broader measure that includes people who've given up looking for work or who can't find full-time jobs, the unemployment rate fell to 16.3 percent, down from 16.5 percent in June.

But in a grimmer development, the number of long-term unemployed -- people who've gone without a job for 27 weeks or longer -- rose by 584,000 to 5 million, from 4.4 million in June. Three out of 10 unemployed people have joined the ranks of long-term unemployed. What to do about all those people will become a more and more pressing problem as nearly 1.5 million Americans will exhaust their extended unemployment benefits by the end of the year.

"Never in the history of the unemployment insurance program have more workers been unemployed for such prolonged periods of time," said Christine Owens, director of the National Employment Law Project, in a statement. "An unprecedented 5 million -- one out of three jobless workers -- have been unemployed for six months or more, and their families are straining to meet basic needs in an economy that has not yet begun to produce jobs."

Heidi Shierholz, an economist with the Economic Policy Institute, credited the stimulus bill for preventing worse job numbers but said the government will need to take action on long-term unemployment.

"The recovery act is now creating hundreds of thousands of jobs but you can't put out a house fire with one hose," said Shierholz in a statement. "Additional policy interventions by Congress are desperately needed to provide relief and generate jobs, including an immediate extension of federal unemployment benefits for the long term unemployed."

Presidential spokesman Robert Gibbs told reporters Friday the report "is more evidence that we have pulled back form the edge" of a depression. At the same time, he said President Barack Obama still thinks the jobless rate will hit 10 percent later this year.

July's job loss numbers are way better than the data from June, when employers cut 467,000 jobs and unemployment reached 9.5 percent, its highest rate in 26 years. Friday's report will solidify the consensus that rate of job loss is slowing along with the overall rate of economic decline.

http://www.huffingtonpost.com/2009/0..._n_253675.html
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Old 08-07-2009, 11:19 AM   #2
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Default Re: US Unemployment Rate drops for the first time in 15 months

Obama= Black Jesus
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Old 08-07-2009, 11:22 AM   #3
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Default Re: US Unemployment Rate drops for the first time in 15 months

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Originally Posted by Batman
Obama= Black Jesus

Jesus was already black. Obama = Jesus 2.0.
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Old 08-07-2009, 11:24 AM   #4
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Default Re: US Unemployment Rate drops for the first time in 15 months

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Originally Posted by 2LeTTeRS
Jesus was already black. Obama = Jesus 2.0.


Then who is this guy?

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Old 08-07-2009, 11:42 AM   #5
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Default Re: US Unemployment Rate drops for the first time in 15 months

Obama knows nothing about how to handle a US economy. His solution is to throw more money at it and promise to create public sector jobs.

This guy was literally 10 times better than Obama in understanding our economic problems.



Unemployment basically stays stable for one month at historic highs and people are giving him high fives? I got news for you, you would be happy with a shiny piece of crap if that's the case. America CLEARLY chose the wrong Democrat for office.
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Old 08-07-2009, 11:51 AM   #6
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Default Re: US Unemployment Rate drops for the first time in 15 months

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Originally Posted by Long Duck Dong
Obama knows nothing about how to handle a US economy. His solution is to throw more money at it and promise to create public sector jobs.

This guy was literally 10 times better than Obama in understanding our economic problems.



Unemployment basically stays stable for one month at historic highs and people are giving him high fives? I got news for you, you would be happy with a shiny piece of crap if that's the case. America CLEARLY chose the wrong Democrat for office.
He's black (or at least partially), so that's why everyone is making such a big deal out of it. Electing a 'black' president was all part of the Federal Reserve and Pentagon's special plan, and showing the world that the US is somewhat less racist because they could select a black guy as their president. Obama gave the US some rep back on the world stage after all the damage Bush caused. Will he stay elected for two terms? IDK...but let's see.
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Old 08-07-2009, 11:52 AM   #7
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Default Re: US Unemployment Rate drops for the first time in 15 months

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Originally Posted by Batman
Then who is this guy?


Cesare Borgia

http://en.wikipedia.org/wiki/Cesare_Borgia



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Old 08-07-2009, 11:56 AM   #8
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Default Re: US Unemployment Rate drops for the first time in 15 months

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Originally Posted by Doomsday Dallas
A messiah is usually depicted as the same race as the worshippers. For example, chances are the Asian Jesus is gonna be Asian like the Black choose to have a Black man as their Jesus...it doesn't change their faith, as it isn't ever stated what race Jesus was (besides the fact he was a Jew by ethncity)
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Old 08-07-2009, 11:59 AM   #9
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Default Re: US Unemployment Rate drops for the first time in 15 months

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Originally Posted by supersmashbros
it doesn't change their faith, as it isn't ever stated what race Jesus was (besides the fact he was a Jew by ethncity)

http://en.wikipedia.org/wiki/Black_Hebrew_Israelites
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Old 08-07-2009, 12:10 PM   #10
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Default Re: US Unemployment Rate drops for the first time in 15 months

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Originally Posted by Doomsday Dallas
Thanks...I've seen a few blacks who adhere to Judaism. I mentioned your religious background usually doesn't have to much to do with your race (especially the Abrahamic religions but Hinduism to a lesser extent because I haven't seen that many black Hindus lol).
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Old 08-07-2009, 12:13 PM   #11
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Default Re: US Unemployment Rate drops for the first time in 15 months

I used to know alot of 12 tribe black israelites....

their brand of religion is as valid as all the other ones....


any by the way here is the real picture of Jesus

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Old 08-07-2009, 12:14 PM   #12
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Default Re: US Unemployment Rate drops for the first time in 15 months

They just hired 25 people at the Walmart I work at...and cut the hours of all the people who were already there. The more hours the store manager cuts the bigger his bonus is at the end of the year.
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Old 08-07-2009, 12:23 PM   #13
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Default Re: US Unemployment Rate drops for the first time in 15 months

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Originally Posted by Posterize246
They just hired 25 people at the Walmart I work at...and cut the hours of all the people who were already there. The more hours the store manager cuts the bigger his bonus is at the end of the year.
Thats a confrontation. Why would you work at Wal-mart? Thats a terrible place to work.
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Old 08-07-2009, 12:26 PM   #14
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Default Re: US Unemployment Rate drops for the first time in 15 months

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Originally Posted by phoenix18
Thats a confrontation. Why would you work at Wal-mart? Thats a terrible place to work.
I am guessing it is because he or she has nowhere better to work...
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Old 08-07-2009, 12:26 PM   #15
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Default Re: US Unemployment Rate drops for the first time in 15 months

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Originally Posted by phoenix18
Thats a confrontation. Why would you work at Wal-mart? Thats a terrible place to work.
Because Dick's Sporting Goods and Pathmark were 10x worse. And my loss prevention job is pretty damn good while I'm going to school.
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