Joblessness rises: 463,000 jobs lost in '08

[jefferson_dem]

Source: Tribune

Joblessness rises: 463,000 jobs lost in '08
The unemployment rate, 5.7 percent, is up one point over last summer.
Posted August 1, 2008 9:15 AM
The Swamp

by Mark Silva

The government's monthly jobs report is out, and guess what? It's not good.

Another 51,000 jobs were lost last month - which raises the number of jobs lost so far in 2008 to 463,000.

And the unemployment rate rose to 5.7 percent, one percentage point higher than it was a year ago, the Department of Labor reports this morning.

Manufacturing, construction, employment services, wholesale trade and the information industry are taking the hits, while employment actually is up in health care - could be a lot of whiplash cases in this economy - and in mining (oil and gas).

Both the number of unemployed (8.8 million) and the rate of unemployment (5.7 percent) rose in July. The numbers of jobless Americans have risen by 1.6 million in a year.

The picture was better for whites (unemployment at 5.1 percent) than it was for blacks (9.7 percent) and Hispanics (7.4 percent). Summer jobs are scarce too: Teenage unemployment at 20.3 percent in July.

The numbers of people working part time for economic reasons has grown by 308,000 - to 5.7 million. That has grown by 1.4 million over the past year. This includes people who say they would like to be working fulltime but their hours have been cut.

Read more: http://www.swamppolitics.com/news/politics/blog/2008/08/joblessness_rises_463000_jobs.html

[Sanity Claws]

1. These were just the official reports

The real picture is even worse.

[Supersedeas]

6. exactly

[madrchsod]

2. heard that borg warner is cutting 17% of their workforce

in the next few weeks.

since the passage of the emergency unemployment bill july`s figures includes people like me who have`t had any income for over a year or more. the bill became effective july 6th and at least in illinois the first checks were issued last week. to bad the 13 weeks is`t long enough to ride out the storm.

i`m praying that after nov 4th we can start turning this country around....

[Jackpine Radical]

3. Whine, whine, whine. Why can't you save some compassion for

the poor Exxon stockholders, whose quarterly profits, although still the largest in US history, were so far below expectations that their stock lost value? I mean, c'mon folks--does that strike you as FAIR?

[clarence swinney]

4. JOBS unemploy 9%

Bush wil not extent unemployment benefits for it will show true unemployment at 9%.

Those whose benefits have expired are not counted in unemployment.Extend benefits and they will show.

This is mob that took MASS LAYOFFS off weekly report.

TOOK M-3 TOTAL MONEY SUPPLY OFF REPORTS
shamed to show Fed increased money supply 730B per year and Bush Sr got 59B per year.
One Major for Devaluation of the Dollar.

Cato President was correct when he said years ago=="Everything this administration does is political"

Good For America means nothing to them.

This must be the Worst-Meanest-least Christ-like administration in history.

[defendandprotect]

5. We have no idea what the actual unemployment figures are ---

they've screwed all the statistics ---

This could be in the 20% range -- and many underemployed ---


PLENTY for Obama and the Dems to do -- they're inheriting a bankrutped America ---