US Unemployment Rate increases to 20% - Thanks Obama

Discussion in 'Current Events' started by sammy, Jul 9, 2012.

  1. sammy

    sammy Well-Known Member

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    If you are looking for a job then you will need plenty of luck according to the BLS June's Jobs report.
    Obama seeks to create a food stamp society, not a working class nation by using his anti-job policies
    and the liberal media's help to hide the sad reality.

    http://www.advisorone.com/2012/07/05/dont-believe-june-jobs-report-trimtabs-says

    TrimTabs’ view is that the economy needs to create a minimum of 150,000 jobs per month to absorb all the new people entering the labor force, so its June numbers suggest the U.S. is adding jobs at just half that rate.

    “We think this economy is in a depression,” she said. “Unemployment for all people unemployed plus the marginally employed [i.e. part-time workers who would prefer full-time employment] is 16%,” Schnapp said.

    “If you add all the people who are no longer counted—a lot of 50-year-old people who remained unemployed longer than a year —we’re probably at an unemployment rate of around 20 or 22%.”
     
  2. sammy

    sammy Well-Known Member

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    You know it's getting bad in the US economy when you see this kind of decay:

    NEW YORK (CNNMoney) -- Foreclosures showed few signs of slowing during the first half of the year, with a sharp increase in new filings occurring during the second quarter.

    More than one million homes had foreclosure filings -- notices of default, auction notices and bank repossessions -- during the first six months of 2012, up 2% from the previous six months, according to RealtyTrac, an online marketer of foreclosed properties.

    http://money.cnn.com/2012/07/12/real_estate/foreclosures/index.htm
     

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