Unemployment at 15 year high

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   Skittish employers slashed 533,000 jobs in November, the most in 34
years, catapulting the unemployment rate to 6.7 percent, dramatic proof
the country is careening deeper into recession.The
new figures, released by the Labor Department Friday, showed the
crucial employment market deteriorating at an alarmingly rapid clip,
and handed Americans some more grim news right before the holidays.
As
companies throttled back hiring, the unemployment rate bolted from 6.5
percent in October to 6.7 percent last month, a 15-year high.

http://biz.yahoo.com/ap/081205/financial_meltdown.html?.v=21

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Bwood Members Profile Send Private Message Find Members Posts Add to Buddy List MUSA Resident Joined: Oct 29 2007 Status: Offline Points: 122	Post Options Post Reply Quote Bwood Report Post Thanks(0) Quote Reply Topic: Unemployment at 15 year high Posted: Dec 05 2008 at 10:24am
	Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession. The new figures, released by the Labor Department Friday, showed the crucial employment market deteriorating at an alarmingly rapid clip, and handed Americans some more grim news right before the holidays. As companies throttled back hiring, the unemployment rate bolted from 6.5 percent in October to 6.7 percent last month, a 15-year high. http://biz.yahoo.com/ap/081205/financial_meltdown.html?.v=21
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arwendt Members Profile Send Private Message Find Members Posts Visit Members Homepage Add to Buddy List MUSA Official Joined: May 17 2007 Location: United States Status: Offline Points: 588	Post Options Post Reply Quote arwendt Report Post Thanks(0) Quote Reply Posted: Dec 05 2008 at 10:42am
	This in my opinion is only further evidence that the housing market and its collapse is only thy symptom of this much larger underlying problem. Yet all we hear on the news would make us think that if only we could keep people in their homes, or if only there were more credit avaliable life would be good. Though not all agree I still say it's jobs that are the root of our problem.
	“Sell not virtue to purchase wealth, nor Liberty to purchase power.” Benjamin Franklin - More at my Words of Freedom website.

spiderjohn Members Profile Send Private Message Find Members Posts Add to Buddy List Prominent MUSA Citizen Joined: Jul 01 2007 Location: United States Status: Offline Points: 2749	Post Options Post Reply Quote spiderjohn Report Post Thanks(0) Quote Reply Posted: Dec 05 2008 at 11:22am
	Creating jobs is a key locally. Maintaining jobs is a key nationally. The financial bailout has been a disaster, and has severely tainted any similar thinking for other sectors. The lack of banking bailout oversight was a major gaffe, and the homeowners/business borrowers aren't getting the desired relief. We would have been much better off to simply tax credit or spread the bailout funding to every consumer in the nation, high-weighting the middle-class taxpayers. They would, in turn put the windfall back into the economy, hopefully paying mortgages, credit card debt, and have the ability to purchase consumer goods including vehicles. These people would circulate the $$ into the overall mainstream economy. That alone should provide more than adequate economic stimulus, and would by-pass the corporate greed and siphoning of the public $$$ jmo