The Deteriorating Labor Market

[one...two...tree 2,762]

I don't want to alarm anyone, but the job market appears to be in pretty horrendous shape.

New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday, providing more evidence of a rapidly weakening job market expected to get even worse next year.

The government said new applications for jobless benefits rose to a seasonally adjusted 542,000 from a downwardly revised figure of 515,000 in the previous week. That's much higher than Wall Street economists' expectations of 505,000, according to a survey by Thomson Reuters.

That is also the highest level of claims since July 1992, the department said, when the U.S. economy was coming out of a recession.

The four-week average of claims, which smooths out fluctuations, was even worse: it rose to 506,500, the highest in more than 25 years.

In addition, the number of people continuing to claim unemployment insurance rose sharply for the third straight week to more than 4 million, the highest since December 1982, when the economy was in a painful recession.

How bad is it? The Bush White House is suddenly willing to sign legislation to extend unemployment benefits. A bill to provide unemployment checks for up to 13 additional weeks for those who've exhausted their unemployment insurance has already passed the House, and the Senate is poised to follow suit as early as tonight.

http://www.washingtonmonthly.com/

[w¡n9Nµ7 §£@¥€r 123]

I don't want to alarm anyone...

Too late.

[Ban Hammer 13,364]

I don't want to alarm anyone...

Too late.

agreed - aj has been alarming all of us for weeks.

[Chica Yeyé 41]

I was listening to NPR this morning brother, and someone was saying they expect the national unemployment average to go over 8%

And here I was hoping to get a better job and stop working two jobs.... as if

[w¡n9Nµ7 §£@¥€r 123]

I was listening to NPR this morning brother, and someone was saying they expect the national unemployment average to go over 8%

And here I was hoping to get a better job and stop working two jobs.... as if

Even in bad times, some skillsets are always in demand.

Just because 8% don't have work doesn't mean life sucks for the other 92%.

[one...two...tree 2,762]

I was listening to NPR this morning brother, and someone was saying they expect the national unemployment average to go over 8%

And here I was hoping to get a better job and stop working two jobs.... as if

Even in bad times, some skillsets are always in demand.

Just because 8% don't have work doesn't mean life sucks for the other 92%.

Not quite accurate. It does affect a larger percentage of Americans because that 8% doesn't have the income to spend and our economy is consumer driven....more so than it has ever been. This makes for a solid argument to shift our economy away from being consumer driven.

[w¡n9Nµ7 §£@¥€r 123]

Just because 8% don't have work doesn't mean life sucks for the other 92%.

Not quite accurate. It does affect a larger percentage of Americans because that 8% doesn't have the income to spend and ...

Tell me, in your words, what is it you think I said.

[Chica Yeyé 41]

I was listening to NPR this morning brother, and someone was saying they expect the national unemployment average to go over 8%

And here I was hoping to get a better job and stop working two jobs.... as if

Even in bad times, some skill sets are always in demand.

Just because 8% don't have work doesn't mean life sucks for the other 92%.

That is correct. The skill set bit. I still want a better job

[Amby 490]

if it makes you worry less I won't be out looking for a job anytime soon soooooooo...someone else can have my spot

[Marilyn. 340]

my hubby's job is pretty secure, I think... hospitals always need supplies

[w¡n9Nµ7 §£@¥€r 123]

my hubby's job is pretty secure, I think... hospitals always need supplies

hospitals do shut down though

1 near me is shutting down

[Marilyn. 340]

my hubby's job is pretty secure, I think... hospitals always need supplies

hospitals do shut down though

1 near me is shutting down

my hubby works for a medical supply warehouse.....

I doubt that all the hospitals are going to shut down any time soon...

[w¡n9Nµ7 §£@¥€r 123]

my hubby's job is pretty secure, I think... hospitals always need supplies

hospitals do shut down though

1 near me is shutting down

my hubby works for a medical supply warehouse.....

I doubt that all the hospitals are going to shut down any time soon...

all of them dont need to shut down

just 1 of the hostpials that use his warehouse

[one...two...tree 2,762]

Just because 8% don't have work doesn't mean life sucks for the other 92%.

Not quite accurate. It does affect a larger percentage of Americans because that 8% doesn't have the income to spend and ...

Tell me, in your words, what is it you think I said.

I took your statement above to mean that 92% of Americans' lives don't suck.

[Ban Hammer 13,364]

my hubby's job is pretty secure, I think... hospitals always need supplies

hospitals do shut down though

1 near me is shutting down

with all the shootings there? i'd thought they'd have a booming business.