Slow recovery keeps unemployment high

[IDemo]

Source: Associated Press

By Jeannine Aversa
updated 11:58 a.m. MT, Thurs., May 27, 2010

WASHINGTON - High unemployment isn't going away.

The slow-motion pace of economic growth shows the recovery isn't vigorous enough to generate enough jobs for 15.3 million unemployed people. And a still-elevated number of new filings for jobless benefits suggests layoffs continue to complicate the problem.

Two government reports Thursday offered new evidence on all of those fronts.

For many Americans, it doesn't feel much like a recovery.

The unemployed face fierce competition for job openings. Those with jobs are watching their paychecks shrink. A growing number of people are at risk of falling into foreclosure. And people with only the most stellar credit are likely to get a new loan.

Read more: http://www.msnbc.msn.com/id/37374520/ns/business-eye_on_the_economy/

[Orrex]

1. Thank god there's been no serious talk about Tier 5 benefits

That kind of entitlement would only encourage these unemployed parasites to sit at home on their lazy, malingering asses!

[proudohioan]

3. And smoking crack!!!! n/t

[liberation]

6. ... and driving around in Cadillacs!

Although, wouldn't that be a good thing? Given the dire straits GM is going through?

[proudohioan]

7. You know it!

and let's not forget that wide-brimmed hat with the feather!

Hey, we got it made, huh!

[defendandprotect]

11. Today I heard about "fun-employment" on Stephanie Miller radio Show!!--

this is allegedly young people collecting unemployment - wealthy -- live with their

parents -- have credit cards to buy everything and their parents pay it all.

After they send out a few resumes in the morning -- they go off for drinks.

Turn it off, didn't hear the rest of it --

but, couldn't figure out why that popped up on a liberal show???!!!

Was it a joke?

[proudohioan]

12. I don't know whether it was a joke or not,

but it sure as hell sounds tasteless, more like something you'd hear on Limbaugh.

:wtf:

[defendandprotect]

13. Unfortunately, the story teller sounded like one of the hosts . . . that

was completely annoying ---

But even in the cases of Olbermann showing Palin every night -- or Newt Gingrich --

drives me nuts that they'll give like a 3/4 screen to the Repug -- without a line thru

it or something. Basically, they're giving them a lot of attention every night I don't

really want to see. Well, I don't want to see it in that form.

True they are ultimately criticizing them -- but meanwhile, indirectly publicizing them and

making them look important!

Since I didn't hear what actually happened before the "fun-employment" segment I don't know

what it was actually all about -- don't want to be misleading on this.

:)

[proudohioan]

14. Oh, I hate that obsession with Palin and all the rest of the repukes, too!

My SO likes to watch Morning Shmoe (Ugh!), Chris, Big Ed, Keith and Rachel, and I have gotten to the point that I can't stand watching them anymore, and it's because of this obsession with all things repuke!

Damn, can we stop giving those cretins so much 'publicity'? Honestly, I can't stand it! IGNORE THEM!

I SO agree with you about while ultimately criticizing them, but giving them indirect publicity! If I see Michele Bachmann's face one more time, I'm gonna throw out the set!

Oh, and I didn't hear the Stephanie Miller show, so it's not misleading to me!

:hi:

[tonysam]

8. +100,000,000 n/t

[OhioChick]

2. Unemployment keeps rising here. n/t

[ixion]

4. It doesn't 'feel' like a recovery, because it isn't one.

And it won't be until we fix the core issues that caused it in the first place, which we have not.

[defendandprotect]

15. Absolutely ... they'll be no recovery until we reregulate capitalism ... or rid ourselves of it!!

Capitalism is the source of most of our problems --

from exploitation of nature and humans -- to control of our elected officials and

government!

Fairness in Broadcasting Act --

Glass-Steagall --

The common sense regulations of the New Deal -- we have to have all of that restored!

[Lagomorph]

5. I just read, yesterday, that....

the M3 money supply was killing the recovery.

http://www.telegraph.co.uk/finance/economics/7769126/US-money-supply-plunges-at-1930s-pace-as-Obama-eyes-fresh-stimulus.html

I gleaned this out of it:

"Mr Bernanke no longer pays attention to the M3 data. The bank stopped publishing the data five years ago, deeming it too erratic to be of much use.

This may have been a serious error since double-digit growth of M3 during the US housing bubble gave clear warnings that the boom was out of control. The sudden slowdown in M3 in early to mid-2008 - just as the Fed talked of raising rates - gave a second warning that the economy was about to go into a nosedive."

* M0: The total of all physical currency, plus accounts at the central bank that can be exchanged for physical currency.
* M1: The total of all physical currency part of bank reserves + the amount in demand accounts ("checking" or "current" accounts).
* M2: M1 + most savings accounts, money market accounts, retail money market mutual funds,and small denomination time deposits (certificates of deposit of under $100,000).
* M3: M2 + all other CDs (large time deposits, institutional money market mutual fund balances), deposits of eurodollars and repurchase agreements.

[New Dawn]

9. High unemployment = no "recovery."

[defendandprotect]

10. We need a jobs program -- in fact, total employment for the nation should be

the aim --

And we have to stop doing this stuff thru corporations so they can make a buck

from it!!