Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

US: Over a quarter million jobs lost in September

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 12:43 AM
Original message
US: Over a quarter million jobs lost in September
The US unemployment rate reached 9.8 percent and the economy lost 263,000 jobs in September, according to figures released Friday by the Labor Department. The latest figures undermine claims of an imminent economic recovery and point to the likelihood that the US economy will remain mired in recession for the foreseeable future.

The job losses were far higher than predicted. Economists surveyed by Dow Jones newswires expected an average decrease of 175,000 jobs, while the most pessimistic expected no more than 250,000. The job losses for August were revised downward to 201,000. With the new figures, the number of job losses increased by 31 percent from the previous month.



The unemployment rate, which is calculated using separate data, grew by 0.1 percent in September to reach 9.2 percent, up from 6.2 percent in September 2008.

Since the recession started less than two years ago, the ranks of unemployed have swelled from 7.6 million to 15.1 million, while the unemployment rate has doubled.

http://www.wsws.org/articles/2009/oct2009/jobs-o03.shtm...
Printer Friendly | Permalink |  | Top
anonymous171 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 12:54 AM
Response to Original message
1. I thought the recession was over!?
:shrug:
Printer Friendly | Permalink |  | Top
 
Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 01:04 AM
Response to Reply #1
3. only for stockbrokers to the rich.
Printer Friendly | Permalink |  | Top
 
Selatius Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 01:11 AM
Response to Reply #3
4. And savvy daytraders who are good at riding waves.
Edited on Sat Oct-03-09 01:12 AM by Selatius
I know a couple of traders who made a killing when Bear Stearns and Lehman Brothers went through the basement floor. They started short-selling bank stocks once the rumors started flying that trouble was ahead. They must've made a fortune off picking the carcass clean, but then the SEC stepped in and banned short-selling for a period of time precisely to stop this.

I feel sorry for the people who lost big when the banks failed. Not all people who invest do it for short-term reasons as opposed to life-long investments for retirement. Having said that, I cannot feel too bad that the couple I knew made a profit at the expense of equally greedy bankers who were reckless and foolhardy with money.
Printer Friendly | Permalink |  | Top
 
emilyg Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 12:58 AM
Response to Original message
2. I see a lot of that where I live. Sad.
Printer Friendly | Permalink |  | Top
 
Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 07:47 AM
Response to Original message
5. kick
Printer Friendly | Permalink |  | Top
 
blindpig Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 08:25 AM
Response to Original message
6. People are hurting bad..
Edited on Sat Oct-03-09 08:26 AM by blindpig
but to hear the talking heads and administration the crisis is over. Tell that to the unemployed, assholes. This administration could have done what was done in the 30's and create millions of jobs, but no, that's socialism. So millions suffer that the Golden Calf of the market not be offended. Priorities.......
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Mon Sep 22nd 2014, 08:28 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC