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Economist: Unemployment Going Up to 13%
The U.S. unemployment rate may rise to a post-World War II high of 13 percent in the aftermath of the recession, said David Rosenberg, chief economist at Gluskin Sheff & Associates Inc. in Toronto.
“This is going to be the mother of all jobless recoveries,” Rosenberg, one of the first to forecast the recession in his former position as chief North American economist at Merrill Lynch & Co. in New York, said today in an interview on Bloomberg Radio. “At the beginning of the year, who was calling for unemployment to go up to 10 percent?”
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joeyblueyes
THE BLACK MUSLIM N 4TH REICHER'S PLAN , IS TO TEAR CAPITALISM DOWN AND HAVE FASCISM ARISE, LIKE HIS 3RD REICH IDOL. MOUNT UP AMERICA
red dot in a blue state
The same Liberal policies have taken us in Michigan over 20 percent. Poor Michigan poor America turn out the lights the competition over.
No PC Here
My favorite comment on the news now is "New jobless claims fell to their lowest point in six months." That's because there are fewer jobs to be lost now you idiots. There are already millions in the unemployment line and your bragging point is that there are not as many new unemployed. When you tell us the total number of unemployed people in this country has decreased, then you have a something to talk about. Don't tell us unemployment only went up a little and expect us to be happy.
Dale Jeu
Naybob, you are completely STUPID.
You fail to see that Obama and the DEMOCRATS were the ones spending, and Bush allowed it to continue. The CONGRESS WAS/IS controlled by democrats.
The unemployment WILL continue to rise FAR above 13%.
It will continue to rise as long as we have the democrats in power.
Dale Jeu
Naybob, you are completely STUPID.
You fail to see that Obama and the DEMOCRATS were the ones spending, and Bush allowed it to continue. The CONGRESS WAS/IS controlled by democrats.
The unemployment WILL continue to rise FAR above 13%.
It will continue to rise as long as we have the democrats in power.
Naybob
Bush sent the country into a tailspin, then bailed out. Let's hope Obama can pull the country out of it.
Dale Jeu
Yea, and you go down on Bawney Fwanks daily...
imsteph555
baby, it is already there. people have given up trying to look anymoer.
we have a friend who has been out of work since sept of '08---a specialized field....he is looking for ANY seasonal work!
imsteph555
baby, it is already there. people have given up trying to look anymoer.
we have a friend who has been out of work since sept of '08---a specialized field....he is looking for ANY seasonal work!
chip
the unemployment will keep increasing for up to a year after the economy improves this has been the case in the last ten recesions.
No PC Here
The good news is by the time it happens the stimulus will have created or saved at least one million jobs!! (please note the sarcasm)
conservabit
The government is the only one spending money!! The governor of NY, Patterson, was on this morning saying NY would be broke in 4 weeks...they actually want to RAISE taxes again!! WTF!!! There is an intentional move to bring down this country....just look at how the government is acting. They are printing money and spening money the USA does not have!!!!!!!!!!
pseudoscience
And look at the illicit raid on payrolls in California. The state increased their witholding by 10% with no tax increase basis just to enable the state to stave off bankruptcy. Did anyone ever think of reducing the government spending? Hey, there's an idea.
mrcfiman
Health care represents 1/6th of the economy... if this bill passes , we add another bullet to the "russian roulette" game and dramatically increased the odds for a complete meltdown.
The ConstitutionaIist
You folks must buy more stuff! Let your credit cards glow red! Shopping for America!
THE TOMB
Recap: Obama said we would not exceed 8% unemployment and then said we Unemployment would be steady around 10% next year! Missed both number did he not!
Solutions offered recap: Stimulus would create at least 3 million saved or new jobs. If numers the White House say are accurate, government never is accurate, they saved or created 640,000 jobs of which maybe 30 thousand new jobs. Results: Not even close!
Problem recap: ECONOMY = JOBS NO. 1, Result: unchanged and no closer to resolution.
Solutions: Spend taxpayers money! Result: Jobs continue to be lost in 6 figure numbers.
Grade: F = FAILURE AND HE WILL ONLY DO WORSE!
saltydizzle
please site where you are getting your information from....or are you just making up numbers?
THE TOMB
Salty one: Biden, Obama, Recovery.gov, all matters of public record from their speeched and allegedly 100% trustworthiness? Also, my personal belief is saved jobs are like entitlements not worth saving because they do nothing and save no money!
boverst7420
It will go up and people will still sing the obama praise until we completely go down. Will the get it then, I doubt it.
John S.
There is no recovery. When will people get this.