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National Unemployment Hits 8.5%

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Posted on Apr 3, 2009
Generic Unemployment

The Bureau of Labor Statistics has put March’s unemployment rate at 8.5 percent, the highest in a quarter-century. After 15 consecutive months of job loss, more than one in 12 people (who are looking for work) are unemployed.

The New York Times:

The American economy shed another 663,000 jobs in March, the government reported Friday, bringing the toll of job losses during the recession to 5.1 million.

The Bureau of Labor Statistics reported that the national unemployment rate climbed to 8.5 percent from 8.1 percent in February, its highest levels in a quarter-century, as employers raced to cut their payroll costs. It was the 15th consecutive month of job losses.

The figures offered a stark contrast to some recent glimmers of life elsewhere in the economy, which have buoyed stock markets and heartened hopes for a turnaround. The sharp and continuing increase in unemployment suggests that even if the downward spiral is beginning to level off, job losses are likely to keep piling up for the rest of this year and into 2010.

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By Kaelieh, April 22, 2009 at 4:19 pm Link to this comment
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The way that our government determines unemployment numbers borders on being just a flat out lie, not just scewed stats. The following people are NOT counted in unemployment figures: students (even those that are considered part time) who are seeking work, people over age 65 seeking work, people working part-time looking for full time, and the unemployed that have given up on trying to find work.

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By Purple Girl, April 5, 2009 at 7:37 am Link to this comment

8.5% really- that sounds Good to a Michigander. Hell folks you ain’t seen nothing yet- Stop whining until your numbers get up to double digits for years (decades).Want to see the ‘benefits’ of Trickle Down- Let me show you around Detroit and Flint. How long has the Term ‘Rust Belt’ been around?
Let me know when the ‘Red States’ hit 12%- I’ll throw a fucking party!

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By NYCGirlDet, April 4, 2009 at 5:49 pm Link to this comment

Living in Michigan - with unemployment higher than anywhere, we know that the middle class is really losing ground fast…and Obama’s election hasn’t had any effect on the blood letting for the working class. I propose we start putting the spotlight on the companies that are sending our jobs off shore….just found this tidbit about another US company, PORCH LIGHT ENTERTAINMENT, Los Angeles, California,(founders are Bruce Johnson & William Baumann) outsourcing to China off the Xiang Chinese Media site:
“Special Report: Global Financial Crisis
  CANNES, France, April 3 (Xinhua)—China has made a record high worth of deals at this year’s MIPTV, the world’s largest audiovisual market, amid the ongoing global economic downturn.
  The five-day MIPTV trade fair ended its 46th edition on Friday, where China had its largest delegation ever, with more than 40 companies striving to break into the European and American market for television programs.
  China scored 6.49 million U.S. dollars of deals at MIPTV, the highest since it began participating in the fair in 1990, CITVC senior marketing director Cheng Chunli told Xinhua.
  CCTV Animation announced an agreement with U.S. Porch Light Entertainment to develop and co-produce a pre-school animation series.
  The deal marks the first collaboration on a long-format television animation series between the Chinese public broadcaster and a U.S. company.”
Porch Light also operates under the names PorchLight, Ocean Park Pictures/Ocean Park Home Entertainment and PorchLight Inspire.
Why don’t we start shining a Spotlight on companies and their owners that are sending our jobs off to China and anywhere else cheap labor can be found. I’m not a protectionist - if US companies sent jobs overseas and insisted that overseas employees were paid living wages, allowed to organize, had breaks, lunch, maternity leave, etcetera…we could be creating a viable middle class around the world - instead of destroying the middle class in America!
Any ideas about how we get the word out?

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By LostHills, April 3, 2009 at 11:54 pm Link to this comment

Here’s the real news: Our new president is not doing a single thing to put Americans back to work. He’s too busy promoting the next world war…..

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By joe thornburgh, April 3, 2009 at 4:26 pm Link to this comment
(Unregistered commenter)

Just wanted to call to sir jorge’s attention.  8.5% plus 92.5% equals 101%.  I would say by achieving 101% we should receive an A+!

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By Blackspeare, April 3, 2009 at 3:28 pm Link to this comment

Actually the unemployment rate is more like 15%——many people aren’t counted.  But not to worry, pretty soon all those foreign companies will be out-sourcing positions back to the USA——of course it would help if you could speak gujarati.

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By Eric L. Prentis, April 3, 2009 at 12:38 pm Link to this comment

At this rate, what’s to stop the US unemployment rate from hitting 12.1 percent by yearend, GM and Chrysler going bankrupt, many trillions more taxpayer dollars for Wall Street bonuses? The looting of the treasury by the bankers, their politicians, and corporate TV media continues (they laugh among themselves and live lavishly), and the people get laid off, so sad!

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By sir jorge, April 3, 2009 at 10:37 am Link to this comment
(Unregistered commenter)

No one brings up the fact that if we have 8.5% unemployment than we have 92.5% EMPLOYMENT! That’s GREAT! A-

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