Despite hiring, US unemployment rate seems frozen

NF Reporter · 09-03-2010, 07:32 PM

AP - Unemployment is stuck at high levels even though some companies are hiring. The problem, government data show, is that too few jobs are being created for the growing number of people looking for work.

Despite hiring, US unemployment rate seems frozen

waltky · 09-13-2010, 01:17 AM

Granny says get used to it - it ain't gettin' better anytime soon...

Obama economist: High future unemployment
Sunday, Sep 12, 2010 = Adviser Austan Goolsbee appears on "Fox News Sunday," announces foreseeable economic pain

Quote:

The new chairman of President Barack Obama's Council of Economic Advisers says Americans can expect to see the high unemployment rate continue for some time.

Speaking on "Fox News Sunday," Austan Goolsbee said the recession that began in 2007 put the U.S. economy deep in the hole and it's going to be a long struggle to get out.

The unemployment rate is now at 9.6 percent, and Goolsbee declined to speculate what it might be at the end of the year. But he says he doesn't think the rate will be coming down significantly anytime in the near future.

Goolsbee takes over the council's chairmanship from Christina Romer, who left the White House earlier this month to return to teaching.

Source

waltky · 10-08-2010, 06:26 PM

Net job loss...

U.S. Economy Sheds 95,000 Jobs in September
10/08/10 - A wave of government layoffs in September outpaced weak hiring in the private sector, pushing down the nation's payrolls by a net total of 95,000 jobs.

Quote:

The Labor Department said Friday that the unemployment rate held at 9.6 percent last month. The jobless rate has now topped 9.5 percent for 14 straight months, the longest stretch since the 1930s.

The private sector added 64,000 jobs, the weakest showing since June. Local governments cut 76,000 jobs last month, most of them in education. That's the largest cut by local governments in 28 years. And, 77,000 temporary census jobs ended in September.

Nearly 14.8 million people were unemployed last month. That's almost 100,000 fewer than in August. The report is the final one before the November elections, which means members of Congress will face voters next month with a jobless rate near double digits.

See full article from DailyFinance: U.S. Economy Sheds 95,000 Jobs in September - DailyFinance

ayuki123 · 10-08-2010, 09:43 PM

is that too few jobs are being created for the growing number of people looking for work.
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chizmarlan · 10-09-2010, 02:56 PM

The Real problem is that the jobs being created cannot sustain any long term US growth.PAST recessions relied upon manufacturing to jump-start the economy.YES,manufacturing jobs can still jump-start an economy:IN CHINA?