Utopia Talk / Politics / How Far Does It Lag Behind?

Hot Rod Member	Thu Oct 01 08:48:05 U.S. Jobless Claims Rise in Latest Week October 1, 2009 WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits rose last week, government data showed on Thursday. Initial claims for state unemployment insurance rose to a seasonally adjusted 551,000 in the week ending September 26 from a revised 534,000 in the previous week. Analysts polled by Reuters were expecting claims of 530,000, which would have been unchanged from the previously reported figure. The four-week moving average of new claims fell to 548,000, the lowest since 547,000 reported in the week ending January 24. A Labor Department spokesman said there were no unusual factors affecting the latest week's data. Continued claims of workers still collecting jobless aid after an initial week of benefits fell to 6.09 million in the week ending September 19 from a revised 6.16 million in the prior week. Analysts were expecting continued claims to rise to 6.16 million. http://abcnews.go.com/Business/wireStory?id=8721648
Hot Rod Member	Thu Oct 01 16:31:35 How Far? Inquiring minds want to know.
Milton Bradley Member	Thu Oct 01 16:36:00 Going by historical data and actual facts, something I know you prefer not to do, job creation lags behind GDP growth by about 1-2 economic quarters. Which means you will start seeing substantial job growth sometime between November and March. The unemployment rate though, will continue to be above "normal" levels for a couple of years.
Ninja Member	Thu Oct 01 17:08:36 "Which means you will start seeing substantial job growth sometime between November and March." It still remains to be seen how option ARMs will do in 2010 - 2012. Ones with rates resetting currently have a default rate of ~25% but I don't know exactly what it means for the economy as a whole if rates stay at that level or jump as the majority of them reset in the next couple years.
Formerly Fred Member	Thu Oct 01 17:09:49 For you to have job growth you first need the economy to grow.
Gaytrucker Fred Member	Thu Oct 01 17:10:19 EASTBOUND AND DOWN GIVN HEAD A GOIN!
Milton Bradley Member	Thu Oct 01 18:23:33 "It still remains to be seen how option ARMs will do in 2010 - 2012. Ones with rates resetting currently have a default rate of ~25% but I don't know exactly what it means for the economy as a whole if rates stay at that level or jump as the majority of them reset in the next couple years." The impact of these will be minimal at best. The reason for this is that people with these sorts of ARMs have either refinanced, foreclosed, or will do one of the two in the near future. Not many people out there sitting on their ARM knowing it will kick them in the ass in two years doing nothing. "For you to have job growth you first need the economy to grow. " Please dont be a retard.
Liberal Member	Sat Oct 03 09:03:34 The unemployment rate is now 9.8%. Should reach double digit in the next couple of months or so.
CrownRoyal Member	Sat Oct 03 09:04:08 Indeed, Rod.
McKobb Member	Sat Oct 03 09:06:10 They can always go pick fruit in California...wait...what will they do with the mexicans that do that now?
Liberal Member	Sat Oct 03 09:09:33 Give them the construction and other high paying jobs, in the interest of equality. And don't you dare bring up the fact they are illegal. That would be racist.
Sam Adams Cat Member	Sat Oct 03 09:33:59 "Sat Oct 03 09:03:34 The unemployment rate is now 9.8%. Should reach double digit in the next couple of months or so." ROFL, someone save this so we can laugh our asses off at how wrong Turd Rod always is in 2 months or so...
Liberal Member	Sat Oct 03 10:14:16 Just heard that if *ALL* unemployed were counted as a part of the rate, it would be 17%.
Rugian Member	Sat Oct 03 10:17:53 Liberal Member Sat Oct 03 10:14:16 "Just heard that if *ALL* unemployed were counted as a part of the rate, it would be 17%." So I guess you're really pissed at Bush then, eh Rod? After all, short of nationalizing the entire economy and giving everyone under the sun a job, there's nothing that a president who's been in office less than a year can do to so completely affect the economy.
Formerly Fred Member	Sat Oct 03 10:28:17 Consumer bankruptcies topped one million for the first nine months of this year, the highest point since the system was overhauled in 2005. The number of personal bankruptcy filings for the nine months rose to 1,046,449 as of Sept. 30, the American Bankruptcy Institute, an organization made up of attorneys, accountants and other bankruptcy professionals, said Friday, using data from the National Bankruptcy Research Center. There were 773,810 personal bankruptcy filings for the same time period in 2008. September's filings reached 124,790, 41% higher than the same month last year. Webmaster's Commentary: And yet what does congress seem hell-bent on doing, in this horrendous economic climate? Raising your taxes!! http://online.wsj.com/article/SB125451530375860305.html
Formerly Fred Member	Sat Oct 03 10:30:08 For the first time, the average amount of time it takes fired employees to find a new job exceeds the length of their standard unemployment benefits. The CHART OF THE DAY shows the average duration of unemployment is now 26.2 weeks, longer than the 26 weeks of state benefits normally provided to workers who lose their jobs. Itâ??s the first time that has occurred since the Bureau of Labor Statistics began keeping records in 1948. http://www...?pid=20601109&sid=ajY2EJWqg3ZE
Sam Adams Cat Member	Sat Oct 03 11:00:22 And the nr.1 reason for those bankruptcies? Glorious, good ole US non socialist health care for the wealthy!
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