Obama Powerless
Jigsaw1695
had in the past one hundred years.
Though he controls the congress, he cannot get a bill passed without
destroying his own party. May it is time for him to consider finding
job opportunities elsewhere.California Was Among States With Record
Unemployment (Update3) Share Business ExchangeTwitterFacebook| Email |
Print | A A A
By Courtney Schlisserman
Nov. 20 (Bloomberg) -- California, Delaware, South Carolina and
Florida registered record rates of unemployment in October as weakness
in the labor market stretches from coast to coast and limits the
economic recovery.
Joblessness rose in 29 U.S. states last month compared with 22 in
September, the Labor Department said today in Washington. Michigan had
the highest jobless rate at 15.1 percent, followed by Nevada at 13
percent and Rhode Island at 12.9 percent.
The national rate last month reached a 26-year high of 10.2 percent,
weighing on consumer spending that accounts for about 70 percent of
the economy. Federal Reserve Chairman Ben S. Bernanke said Nov. 17
that joblessness “likely will decline only slowly,” a reason policy
makers will keep interest rates near zero to ensure growth is
sustained.
“We’ve had a surprisingly sharp jump in the jobless rate,” said
Richard DeKaser, president of Woodley Park Research in Washington.
“Businesses have truly been doing an extraordinary job of wringing out
productivity from the labor force.”
Stocks fell for a third day, with the Standard & Poor’s 500 Index
declining 0.3 percent to 1,091.38 at 4:03 p.m. in New York. Dell Inc.,
the third-largest maker of personal computers, dropped 10 percent
after reporting a 54 percent drop in profit.
Declines in 13 States
The unemployment rate fell in 13 states, including Massachusetts,
where it declined to 8.9 percent from 9.3 percent; New Hampshire, with
a drop to 6.8 percent from 7.2 percent; and West Virginia, which fell
to 8.5 percent from 8.9 percent.
The number of states with at least 10 percent unemployment held at 14
last month, the Labor Department’s report showed. The states reporting
a record jobless rate were California at 12.5 percent, South Carolina
at 12.1 percent, Florida at 11.2 percent and Delaware at 8.7 percent.
The District of Columbia also set a high with an 11.9 percent rate.
“Virtually every sector aside from the health-care sector is losing
jobs,” said Sean Snaith, University of Central Florida economist in
Orlando. “Housing has been central to Florida’s economic story
throughout the entire cycle. Unfortunately, it has spread well beyond
the sectors directly involved in the housing market.”
President Barack Obama on Nov. 6 signed into law a plan to extend
jobless benefits, expand a tax credit for first-time homebuyers and
provide tax refunds to money-losing companies. The measure gives
jobless people as many as 20 additional weeks of unemployment
assistance.
The president has also announced plans to convene a jobs summit at the
White House next month.
State Payrolls
Payrolls declined last month in 21 states, today’s report showed. New
York showed the biggest drop, with a loss of 15,300. Florida had 8,500
job losses, followed by Georgia with 7,500 and Virginia with 7,100.
“When you apply for a job, because there are so many other people
looking for jobs, you have to be the absolute perfect candidate and
lucky, or be someone’s brother-in-law, to get a job,” said Mary Kough
of Tellico Plains, Tennessee. “In this economy there are very few jobs
for which to even apply.”
Kough has been looking for work for four months, applying for as many
as 25 positions. She’s been interviewed once. The 47-year-old said she
has about 20 years of experience, including jobs as a customer service
manager, supervisor and purchasing agent. Tennessee’s unemployment
rate held at 10.5 percent in October, the Labor Department’s report
showed.
Taking Comfort
“I try not to get discouraged,” Kough said. “I know that you will get
a certain percentage of what you apply for, and since there are less
jobs to apply for, I know it will just take a little longer. I take
comfort in knowing that. I have faith.”
Applied Materials Inc. is among companies still planning to cut jobs.
The world’s biggest maker of chip equipment, based in Santa Clara,
California, said Nov. 11 it plans to eliminate as many as 1,500
positions within 18 months.
Over the last year, California showed the biggest loss of jobs, with
payrolls falling by 687,700 workers, today’s report showed.
Nationally, payrolls fell by 190,000 in October, the Labor Department
said Nov. 6. The U.S. has lost 7.3 million jobs since the start of the
recession in December 2007, the most of any downturn since the Great
Depression.
Other measures corroborate that while firms are firing fewer workers,
it is harder for the unemployed to find work. The number of people
getting extended payments jumped in the week ended Oct. 31 even as the
number of Americans filing first-time claims for unemployment benefits
held at a 10-month low last week, according to government data
released yesterday.
Mitchell Holman
de0472...@h2g2000vbd.googlegroups.com:
> Obama is probably one of the most ineffective presidents that we have
> had in the past one hundred years.
>
> Though he controls the congress, he cannot get a bill passed without
> destroying his own party.
Here is list of bills Obama passed in JUST ONE DAY.
H.R. 1209, the �Medal of Honor Commemorative Coin Act of 2009,�
which requires the Department of the Treasury to mint and issue
coins in recognition and celebration of the establishment of the
Medal of Honor in 1861;
H.R. 3548, the �Worker, Homeownership, and Business Assistance
Act of 2009,� which provides an additional 14 weeks of emergency
unemployment compensation (EUC) in all States and six additional
weeks of EUC in very high unemployment States; extends the Federal
Unemployment Tax Act surtax through June 30, 2011; extends the
$8,000 First-Time Homebuyer Tax Credit through April 30, 2010,
and provides a $6,500 credit to certain other homebuyers through
April 30, 2010; increases from two to five preceding years the
period for which businesses can offset net operation losses in
2008 and 2009 against income; and makes certain other changes to
Federal unemployment programs and tax laws;
H.R. 3606, the �Credit CARD Technical Corrections Act of 2009,�
which amends the Truth in Lending Act to make a technical correction
to an amendment made by the Credit CARD Act of 2009;
S. 832, which grants a Federal charter to the Military Officers
Association of America; and
S. 1694, which allows funding for the Commerce Department�s Public
Safety Interoperable Communications Grant Program to remain available
for an additional two years through FY 2012.
http://www.whitehouse.gov/the-press-office/bills-signed-law-president
So far the Democratic Party doesn't seem "destroyed" by it....
Jigsaw1695
> Jigsaw1695 <Jigsaw1...@aol.com> wrote in news:4d7018e7-a911-4c23-92d6-
> de04724aa...@h2g2000vbd.googlegroups.com:
He has yet to do anything to fix the economy or reduce the
unemployment rate.
As I said earlier, he is a very ineffective leader.
Jigsaw
Mitchell Holman
37c662...@p19g2000vbq.googlegroups.com:
Indeed. A president who does nothing as unemployment
soars to new levels in his first year in office even as
a recession he inherited deepens is well described as
ineffective.
Unless, of course, his last name is REAGAN, right?
"The unemployment rate in the U.S. reached 10.8% in
December 1982 - higher than at any time in post-war era.
Job cutbacks were particularly severe in housing, steel
and automobiles. By September 1982, the jobless rate
reached 10.8%. Twelve million people were unemployed,
an increase of 4.2 million people since July 1981.
Unemployment rates for every major group reached post-
war highs, with men age 20 and over particularly hard hit."
http://investment-blog.net/us-double-digits-unemployment-rate-of-1980-
1981-vs-2008-2009-single-digit/
yitzhak in eretz isreal (sic)
wrote:
>> Jigsaw1695 <Jigsaw1...@aol.com> wrote in news:4d7018e7-a911-4c23-92d6-
>> de04724aa...@h2g2000vbd.googlegroups.com:
>> So far the Democratic Party doesn't seem "destroyed" by it....
> He has yet to do anything to fix the economy or reduce the
> unemployment rate.
Both fucked up by Bush.
Y.
--
Yitzhak Isaac Goldstein
AADP's 'left-wing Israeli intellectual'
'The trouble with fighting for human freedom is that one spends most of
one's time defending scoundrels. For it is against scoundrels that
oppressive laws are first aimed, and oppression must be stopped at the
beginning if it is to be stopped at all'
(H.L. Mencken)
<http://elderofziyon.blogspot.com/>