Labor Department reports weekly jobless claims drop by 12,000 to 409,000 as continuing claims fell to 3.7 million. Productivity for the second quarter was revised down to 0.7%, the steepest drop since fourth quarter 2008.
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5 comments:
ok what are the facts? The new unemployment claims are up 409,000.
(more than expected by the "experts") Productivity down .7% for the 2nd quarter. Hmmm...What is the definition of a recession? One investors website defines recession as:
"A period of general economic decline; typically defined as a decline in GDP for two or more consecutive quarters." We have less than one month left in the 3rd quarter and things are looking gloomy. Are we not heading toward the dreaded "double dip recession"? Yet the same stock market that fell 500 points overnight on the heels of gloomy economic reports less than a month ago seemingly ignores the bad news now. Why? We will soon see. Could it be that those in positions of power are supplementing the market in order to keep it high as long as they can? Could it be that they want investors to keep investing to inflate the market? Could it be that keeping the market bloated with money will assure that those in the know who bail out of the market first when the inevitable can no longer be hidden will take almost everything with them leaving other investors with nothing? The ultimate in redistributing the wealth. Smart small investors will get out now before some Wall Street billionaire gets even richer by devouring the retirements of those who in 401k's. Can't you see? The rich have already eaten the poor. As it approaches the end....the richest are now devouring those below them - even if they too are rich. Money has no friends folks. Get your money out of the market and park it in something safe before you lose everything.
They stopped counting the people who stopped looking for work. What is the number of people receiving government assistance?
The main reason we have so many people unemployed is because people have just become lazy there are so many jobs that are hiring!!! Its just people who dont feel like getting jobs and would rather live off the government and live off the people who work everyday. Get a job, get off your butt and stop abusing the system!!!!
Yay! "Only" 409K more people out of work!! His plan's working. Yes, it's working, because his plan isn't to SAVE America, it's to "fundamentally change" America. It's working! You ain't gonna like it, though.
Obama the captain of the sinking ship says yeah were taking on less water.
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