From the AP:
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.
The unemployment rate held at 9.6 percent last month, the Labor Department said Friday. The jobless rate has now topped 9.5 percent for 14 straight months, the longest stretch since the 1930s…
I seem to recall something from my history books about the Great Depression…something bad. What was it? Let’s think now…oh, yeah, that’s it!…there was a Great Depression back then. And now Obama has matched that wonderful time – we’ve got high, long term unemployment just like back then. Woohoo!
Oh, wait…that isn’t a good thing…
We can’t borrow and spend our way out of this – we can only work our way out of it. We need to make things, mine things and grow things – if we’re not doing that, then we’re just wasting our time and, very probably, making things worse.
UPDATE: In October of 2006, just prior to the Democrat takeover of Congress, unemployment was 4.4%. Ask yourself, are you better off than you were four years ago?
UPDATE II: The “U-6” unemployment rate (which counts unemployed, discouraged and working part-time when wanting full time) rate is up to 17.1%…just shy of the 2009 peak of 17.4%. This indicates two things:
1. We’re back in recession.
2. Someone is fudging the official number as it shows 9.6%. My guess is that it is actually closer to that 10.1% in the Gallup survey…and I’ll bet dollars to donuts the post November 2nd numbers reflect this.
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