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White House still warns of 10 percent jobless rate
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by 158 | August 7, 2009 at 11:37 am
173 views | 22 Recommendations | 7 comments
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Obama said: "We have a lot further to go. As far as I'm concerned, we will not have a true recovery until we stop losing jobs." He also said he won't rest until "every American that is looking for a job can find one."
What Obama is saying is that
the economy is still getting worse
and will continue to get worse for
most of next year. While some signs
are pointing to some improvement
in some areas the over all economy
has still not turned around.
"None of us loses sight of the fact that last month a quarter million people lost their jobs," Gibbs said. "The long-term unemployment rate is increasing."I think it's going to be quite some time before we start seeing genuine, sustained, positive job growth," the spokesman said.
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sadashivan
Supriya Niwas, Annamanada P.O, Kalloor, Trissur District, Kerala, India
Tony Fischer
Paterson, New Jersey, United Statesraydumas1
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Recommendations (22)
Uwe Paschen
Narita, Chiba, Japan
Karl Gotthardt - albertacowpoke
Redwater, Alberta, Canada
Most RecentMost Recommended Comments (7)
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ToddDi (not verified)at 14:10 on August 7th, 2009
Yes you're right!
Todd DiRoberto
http://www.campaignmoney.com/political/contributions/todd-diroberto.asp?cycle=08
at 12:34 on August 7th, 2009
True, at least not yet. Maybe next year there will be lower unemployment.
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Karl Gotthardt - albertacowpokeat 18:20 on August 7th, 2009
In the U.S. and Canada there was a lot of talk by politicians about so called "shovel ready" projects. Yet neither country was able to get stimulus money into those projects. It is another example of how government bureaucracy works regardless of the politicians intent.
All these so called shovel ready projects require tenders and then someone to review them and pick a contractor. All that stuff is slow to get off the ground.
Having worked 35 years within the government system (military) I'm well aware how long it takes for projects to go up and down the food chain. Anyone that thought that this would start immediately was fooling themselves.
at 19:45 on August 7th, 2009
Good comment.
The trouble with government in both countries is that it is run by politicians and politicians are more interested in their careers than in the best interests of the country. They seldom get the right thing done quickly.
at 02:50 on August 8th, 2009
There won't be any improvement until the job market is back to previous levels with (personal) earnings going up. So far “Personal incomes went down 1.3% in June. Incomes had gone up in May, by precisely the same amount - 1.3%, thanks to stimulus payments.” Then, too, commentators saw it as a sign of recovery. But what the feds gave in May was taken away in June. The future caught up with the Obama administration's stimulus efforts within 30 days. Net result = zero. If you want to know how effective the stimuluses and bailouts are, have read at yesterday's posting From one scam to another.
Moreover personal debt has got to be paid down first and that will take at least 6 years. Nevertheless Obama said last night that the economy is improving, because the unemployment rate fell slightly with previous month. B.s.
Don't expect any help from politicians in job improvement, their own job still is more important, apart from the fact that they haven't the proper knowledge and experience. It are second rate managers. The better ones are in the private industry employed.
at 12:12 on August 8th, 2009
Very good comment.
I agree on all points.,
We can not depend on government to improve he economy.