Job market unlikely to recover until 2014

[Amerigo Vespucci]

Source: MSNBC

New unemployment data show why it will take years for the labor market to recover from one of its fastest and deepest declines since World War II, even if an economic recovery is around the corner.

The Department of Labor report released Friday showed job cuts in August were lower than they've been in recent months. But a deeper look at the data shows why it will take millions of new jobs to dig American workers out of this recession's deep pit.

Unemployment for teenagers stands at nearly 26 percent. More than 758,000 workers are so discouraged they quit looking for jobs altogether, by far the biggest such number since the Department of Labor started tracking it in 1994. Damage continues to mount in the manufacturing, financial and construction sectors.

This means it will take several quarters of economic growth to put the unemployed back to work. About 125,000 jobs need to be created each month just to keep up with the natural increase in the number of job seekers from immigration and population growth. Even if that number is surpassed in coming months, it will take a very long time to make up all the lost ground.

Read more: http://www.msnbc.msn.com/id/32694985/ns/business-stocks_and_economy/

[babylonsister]

1. While they're at it, can they tell me who in the rethug party will be

running in 2012?

[truedelphi]

7. Sarah Palin, Palin, Sarah, and

Sarah Palin.

It's part of the deal to keep us in line.

Be afraid, be very afraid.

[No Elephants]

46. The first worry is 2010.

[orpupilofnature57]

2. How did the 12% get all that money ,wise investments .It would be wise

for them to invest,in the 88.

[XemaSab]

3. Booo!

I'd really like to have a job sometime before 2014. I'm broke. :(

[Turbineguy]

4. But....

If you promise to elect repubs in 2012.... weeeeellllll. It should turn around next month!

[totodeinhere]

5. If this is true it might be bad news for Obama politically.

The American people have very short political memories. If it takes that long for jobs to come back then at some point Obama is going to start to get the blame, deserved or not.

[truedelphi]

8. It is deserved.

He had a choice. He could have made decisions as FDR or LBJ would have, and put the money in regional banks once the Too Big To Fail-style banks went into receivorship. Then the regional banks would have been required to make loans to the small businesses (Which are the realbackbone of a working America)

But being bought out by Wall Street, Obama instead offered our the money (Eleven Trillion of it) allowing Bernake/Geithner to allow in only the Wall St players, and thus we are in yet another Bubble-style, jobless "recovery."

And he is hiding behind this rather embarassing "Spin" that while he was running for office, he didn't have a chance to think about the economy as he was too caught up in thinking about the wars we were fighting. But most people will eat up this spin.

[Iowa]

23. Well said. It is deserved. n/t

:thumbsup: :thumbsup:

[ixion]

29. yep, exactly

he had a choice, and he chose Wall St. over Main St., as they always do.

And now, Wall St. is having parties and giving bonuses for crashing the global financial system, while Main St. is eating dog food for dinner.

Some democracy.

[DeadEyeDyck]

30. hear, hear

[OhioChick]

37. Agreed. n/t

[Doctor_J]

47. Nicely said, true

eloquent and accurate.

[fascisthunter]

55. boy oh boy, isn't that the truth

[JonQ]

64. Bingo

I've received a great deal of criticism for point this out before on here, but obama has made a lot of bad decisions when it comes to helping the economy recover.

[davidwparker]

66. +1

[girl gone mad]

10. I agree with Truedelphi.

On economics, Obama made his bed. He chose Wall Street and the too big to fails over Main Street and the working class.

I believe it was a political calculation that has already failed him and the damage from this decision will only get worse over time.

[bluesmail]

24. I also agree with you both.

Reminds me of the Mad Magazine cover right after the election where his desk is literally littered with stacks of papers, anacin and smoked cigarettes showing him in a condition no one wants to be in. He's brilliant compared to * For us Americans I sure do hope he has a brilliant plan. But then the people behind the curtain, (reminds me of Nazi's, oh damn, wish I hadn't typed that) are out of this world intelligent. :evilgrin: Oh and I'll also insert this :tinfoilhat:

[amandabeech]

44. I agree with truedelphi and all who agree with her.

Economics seems to be a real weak point with Obama.

It was obvious early in the campaign when Obama spoke of reworking NAFTA and Goolsbee was reported to have reassured the Canadians that no such rework was in the works.

Obama's economic policies just don't seem to fit with the mindset one would expect to find in a community organizer from a community that had been decimated by the closure of the steel mills around the industrial area in south Chicago and its environs.

[No Elephants]

59. Economics seemed to turn the polls back Obama's way after Palin and before the election.

Even George Will said McCain's erratic behavior around bail out time scared him (Will).

[No Elephants]

50. Not only Obama, but also Congress and Democrats generally. (November 2010 is very close.)

[HughBeaumont]

6. THANKS A BUNCH, TeaBirthers.

Your Reagan/Bewsh I/Bewsh II votes helped LOADS. THANKS for the Stenchanomics. A BUNCH. TeaBirthers should all be kicked DEAD in the ass for protesting about something THEY created with THEIR votes.

"DURRRRRRRRRR . . . mebbe it IS uh gewd ideeur to ship facturuhs and jawbs oversees. Wu'll get bettur jawbs as a result . . . durrrrrrrrrrrrrr (drool . . . slobber)"

"DURRRRRRRRRR . . . I cun pay fer muh OWN helth car, beecuz I'll ALWAYS have a Jawb!! Least'n I wouldn't hafta pay for sum lazy (insert choice of insult here)'s helth curr . . . DURRRRRRRRRRR"

IDIOTS.

[DUlover2909]

18. At least I'm laughing now.

:yourock: :rofl:

[Javaman]

9. meh, we are broke, can't rebuild something with play money.

thank mr. bush* for piss spending us into oblivion.

remember the "bailouts" started with him*.

Like I always say, if you haven't started one yet, start now. Start a garden, you won't regret it. (and yes, if you live in a apt, you use planter pots)

[Deja Q]

53. Yup. One bucket filled with carrot seeds will feed a family of 4 for 365 dyas/year.

GET REAL.

[NashVegas]

11. Now You Know Why

so many of us speak about the coming die-off.

[treestar]

12. This is entirely opinion

And not backed up very well.

[No Elephants]

52. To the contrary, the article contains a lot of data. There may be some component of

opinion in the projected date when joblessness will begin to decrease, but the data do not lend themselves to wild optimism, either.

[4dsc]

13. The last recession took 4 years to recover employment numbers

I don't think we'll even recover by 2012 to tell you the truth.. I don't think there is anywhere in this economy that can take on the millions of jobs needs when you think about 30 million currently unemployed.

[PSPS]

15. And it "recovered" only through everyone's unbridled use of debt.

You don't "recover" an economy by burdening people with even more personal debt.

[gtar100]

63. That't the joy of Supply-Side / Trickle-Down Economics

Invest our money (i.e., our tax dollars) where it's least needed and wait for a bunch of greedy sons-of-bitches to figure out a way to make a profit out of it. And we can hope that it will create jobs. In other words...

They fill the water tank up with water and then do speculative trading on the price of the water tank while all the crops die in the field.

[PSPS]

14. I agree, except why was 2014 was chosen? What domestic industries will there be in 2014?

As far as can tell, there will be even fewer "real" employment opportunities* in five years than there are today.

* = means a job where you earn more than you need to support yourself and maybe a child without having to rely on credit or otherwise go into debt, and have a little left over for savings -- like was customary thirty years ago.

[troubledamerican]

40. Monty Python "Bring out your dead"-style corpse gatherers should be booming

After the 2012-elected GOP-majority Congress declares health care for sub-wealthy to be a "socialist menace" & passes a $20 Trillion bathtub-drowner tax-cut juggernaut for the top 1%.

[onethatcares]

16. jesis. what happens when everyone loses their houses?

the factories are relics, we don't make anything, our kids are either too dumb or too educated to do more than take orders. Somehow we became a service economy, then we were a consumer economy, meanwhile we became a dying country.

When the food riots start, when the housing riots start, it is going to be horrendous.

[Grinchie]

25. Actually, the food riots have already started.

Many people refuse to buy the continually growing GMO contaminated product that is sold in the food stores. If the Government didn't subsidize every bushel of Corn grown in America, promoting unquestioned use of GMO seeds, particularly because their are no more vendors of Bulk non GMO hybrid varieties, the farmers would move on to more healthy crops instead of a crop that is now nothing more than feedstock for an Industrial/Chemical/Food manufacturing chain, and force fed to animals that don't have a choise in the matter, thus concentrating toxins in their pathetic little carcasses until we come along and manufacture McNuggets out of their macerated little fibers.

Buy Organic while you can. Save the seeds. Plant them and nurture the crops. You'd be surprised what even a small garden can produce.

It may save your life someday.

[WriteDown]

45. Mmmmmm.....

McNuggets!

[Endangered Specie]

71. There is a point to be made there... ever since I have started

eating more fresh foods and less processed foods (hard to cut them ALL out), I've felt better, had more energy.

Who knows maybe I'll lose some weight from it!

[nc4bo]

17. Well gotdamn, I can't wait that long. WTF are we supposed to do while we wait it out?

Argh.

[TheWatcher]

19. Drink In The Propaganda And Enjoy The Recovery, I Suppose.

Haven't you heard? The Recession Ended last month, and 9.7% Unemployment is a "Sign Of Hope".

:wtf:

:beer:

[nc4bo]

20. They say one thing but real numbers say something completely opposite.

Stock markets recovering.

Banks recovering.

Housing markets recovering.

TARP money being paid back w/interest.

Then there's that 2nd mortgage default tsunami, that's rumored to be as bad or worse than the 1st one. That's due any day now or did that experience a recovery too?

:wtf: is right.

[TheWatcher]

33. We live in a time of Delusion, Superior Indifference, and Cognative Disonance the like that

The World has rarely seen, my friend.

Stupidity, Apathy, Willfull Ignorance, Mindlessly Following, Not Questioning, and being Uninformed are not only the Accepted Norms, they are rewarded and encouraged.

Being Intelligent, Thoughtful, Intellectual, an informed gets you ostracized, demonized, marginalized, and isolated.

This country was founded by the blood of those who fought for it, and the determination and the will of generations to make this fragile experiment work for 233 years.

The Irony is not lost on me that what may finally bring it all to an end is that IN The End, We The People just couldn't be bothered to keep it alive.

The Bastards only have the Power we allow them to have.

[llmart]

36. Very succinct and intelligent post......

It's time the people also took some responsibility for this mess. The people bought into the propaganda that you can have and own anything you want and have it all right now with easy credit! Whatever happened to delayed gratification and being content with what you have?

[Dulcinea]

62. That mentality doesn't sell anything.

And we must keep the wheels of consumerism turning at all costs!

[Doctor_J]

51. Thanks, Watcher

If you know of any groups somewhere that are doing things to help get the country back, please PM me. I can't really see myself living my last 2 decades being ruled by Glenn Beck

[No Elephants]

54. I know of several. So do you.

ACLU. Amnesty International, Bill Moyers (via his PBS Bill Moyers Journal), unions, The Leadership Conference for Guaranteed Health Care, Democracy Now!, etc.

It would be handy if they were all under one umbrella organization, but they aren't. However, they do exist. They need our support--donations, volunteering, etc.

[Doctor_J]

61. These organizations are powerless against Hate Radio and K street

th first step in taking the country back will be to realize the condition it's in. You're not there yet.

[TheWatcher]

68. Delete.

Wrong place. :)

[TheWatcher]

69. To be fair, many aren't. They can't bring themselves to see it or accept it right now.

There are a lot of Deer In The Headlights right now, that simply do not want to know or see the actual State The Country is in.

For some it is a State Of Shock, for some it is Willful Ignorance, for some it is Terminal Denial, for some it is not unlike Stockholm Syndrome, and yet for others it is a Normal State Of Mind.

In order to Truly take the country back, you must not only have awareness, but ACCEPTANCE of where things truly are, and then the willingness to make the decisions to do what should be done.

I don't know if the bulk of the population can get there, or even develop a basic understanding of where "there" is.

We may be nothing more than Witnesses to History, you and I, but we need to leave the legacy of our voices, both verbal and written, behind and public to the Record, so that someday, a Future Generation will take those words, ideas, concepts, and perceptions, and turn them into ACTION that will finally turn the Tide.

I envy, and fear and hope for, those who will be from that Generation.

May they learn from our mistakes.

And may they not repeat them.

[Doctor_J]

49. Enjoy the fact that you won't have to live with Socialist Health Care

:sarcasm:

The same people (hate radio) that brought you the depression also sunk health care for all.

[LiberalEsto]

21. I'm going to hit retirement age

before I find a job to retire from.

[No Elephants]

56. On the bright side, that will give you medicare, retirement benefits and, if and when you do

get a job, the ability to earn an unlimited amount without loss of retirement benefits. (I don't know if that last one--the unlimited part-- was a great idea, but it became law anyway).

[avaistheone1]

22. No job. No health insurance until 2014?

No problem.





:sarcasm:

[No Elephants]

57. Who said anything about getting health insurance in 2014? Getting a job is not a guaranty of

getting health insurance.

[bvar22]

26. Of Course.

Tax Cut "stimulus" = Jobless Recovery

[Zynx]

27. It took the entire 1980s to bring unemployment down to the low 5% range.

It usually takes as many as 6-8 years to halve the unemployment rate. This time won't be different than that.

[avaistheone1]

28. This time is different. There are no plans to create jobs in place of the jobs that have been

offshored. So now the jobless can pay their bills with sticks and stones.

Get used to it. We have been punked.

[No Elephants]

58. I wish that were so, but I don't think it is. We've been gaining job seekers in unprecedented

numbers, even as we lose more and more jobs.

[Yo_Mama_Been_Loggin]

31. Hear on the news today this recession has wiped out all .......

job gains of the last 10 years.

Way to go G DUHbya.

[HughBeaumont]

41. And frankly, those numbers weren't exactly astounding.

In fact, when put up against what's deemed normal job creation in recession recovery . ..

. .. the last decade's numbers are downright LOUSY.

That's not even COUNTING the fact that wages in real dollars haven't really risen since 1979. Hmmmmmmmmmmmmm, what form of economics started gluing itself into the business paradigm around then?? Not sure, but I think it started with an "R" and ended with a FIST.

[bemildred]

32. Nobody really knows. Nothing has been done so far about creating jobs. It could never come back. nt

[Psephos]

35. That's it in a nutshell. n/t

[AlphaCentauri]

34. repugs did mess up this country forever

[Demeter]

38. What an Optimist!

This market has no reason to recover.

Unless and until capital is directed into local manufacturing by US citizens for US citizens and maybe export, there will be no jobs, no recovery, and little reason to stay in this nation.

Something (besides the worker) has got to give.

[high density]

39. Until we fix trade and labor issues/offshoring, we will continue to suffer job losses

We cannot sustain CEOs making millions per year while they offshore all of the other jobs.

[KillCapitalism]

42. We'll be Zimbabwe in 2014.

Ready for 80% unemployment?

It's gonna happen & it won't be pretty.

[laughingliberal]

43. We had an Opportunity to Pass an Effective Stimulus Bill

But we caved on the amount and the ways it was allocated because the President wanted it to be 'bipartisan.' Not saying it would have been a miracle to get the $1 trillion that was needed but would have been better than what we got. Now, we get to cave on health care in the name of 'bipartisanship.' Getting the costs of health care down for business and the workers would free up a lot of money that would start to circulate in the economy. But the insurance industry would be sad and we can't have that. Rahm wants those campaign contributions.

[No Elephants]

60. IMO, he should have gone the FDR route of creating jobs.

[davidwparker]

67. "Rahm wants those campaign contributions" - But, will people show up to

vote for Obama next time?

[Doctor_J]

48. Joblessness wouldn't b quite so bad if people had health care

But th WH folded on that, so joblessness = illness, too.

[New Dawn]

65. The "job market" can never "recover" when all decent paying jobs are being sent overseas.

[bamacrat]

70. Why do I have a feeling it will really rebound right after the next election...

and whatever scumbag puke who is elected will take all the credit for it. Its what they do, fuck up the country badly, we elect a dem to fix it, then the next shitty puke takes the credit. While everyone hails the free market. fuck the free market.