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Mercnbeth -> 10.4% Unemployment (11/6/2009 10:07:28 AM)
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Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.
No change in the trend. $159 Billion paid out in "stimulus" which, according to one method of calculation, produced 640,329 jobs at a cost of $160,000 per job. Jared Berstein, chief economist and senior economic adviser to the Vice President Biden, argues the cost per job was actually $92,000. Using the VP's economist number it will cost $17,480,000,000 to only replace the 190,000 lost in October. Applying it to the total number of unemployed, 15.7 million, and current Administration policies would require $1,444,400,000,000; almost as much as the pending Health Care Bill.
Manufacturers eliminated a net total of 61,000 jobs, the most in four months. Construction shed 62,000 jobs, down slightly from the previous month.
One sign of how hard it still is to find a job: The number of Americans who have been out of work for six months or longer rose to 5.6 million, a record. They account for 35.6 percent of the unemployed population, matching a record set last month.
The labor situation is actually worse than what these figures and the 10.2% rate show. The government doesn't count as officially unemployed the so-called discouraged workers who have given up looking for jobs -- which in October numbered 808,000, up from 484,000 a year earlier.
And while the administration is promising good and in time reporting we can see that it's far from being the case: Agencies report having spent $207.3 billion and yet only $36,688,660,161 were reported by states.
Some 85 percent of the money went to four agencies: Health and Human Services (HHS), Labor, Education and Social Security. For instance, some of the HHS funds went to some rural high school and college students from Arkansas, Kentucky and Tennessee to conduct medical research this summer with a team of leading scientists at Vanderbilt University. The Department of Labor spent $11,058,877 in unemployment insurance (UI) modernization incentive funds to the state of West Virginia. And the Department of Education is mainly spending its money to keep union protected school teachers in their jobs. But the most relevant information on Recovery.gov is that most of the jobs created or saved are in the public sector, says de Rugy: For instance, according to Vice President Biden, out of the 640,329 jobs, 325,000 went to education and 80,000 to construction jobs, with the difference going to other government jobs.Also, 13,080 grants went to the private sector, and 116,625 went to federal agencies.
Those are the facts.
Here's are questions...
What's the incentive for any industry in the private sector, the only place jobs can be created that doesn't require additional taxation to fund, to create one new job?
What program implemented by this Administration and Congress can be pointed to as a source for future new jobs?
When in the history of any economic system in the world, has a position of more taxation, more regulation, and adversarial to business profits, stimulated any private sector job surge?
The only growth industry is government workers. Increasing the bureaucratic employment sector costs money and increases deficit spending requiring more taxes, counter productive to business expansion and job creation. Taxed at a higher rate - there is no incentive to make more money. There is an incentive to pay for the increased taxes by further reducing your biggest overhead - employees. Is there some other perspective which would point to a fault in that position which seems to be one of the major causes for this unemployment number?
How long and what results are required before the general population eliminates party specific politics and party affiliation as the first consideration for calling failure - failure?
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