Report suggests a year of high unemployment ahead

[Better Believe It]

Report suggests a year of high unemployment ahead
By JEANNINE AVERSA and CHRISTOPHER S. RUGABER, AP Economics Writers Jeannine Aversa And Christopher S. Rugaber, Ap Economics Writers –
January 8, 2010

WASHINGTON – Brace for a year of stubbornly high unemployment.

Gripped by uncertainty over the economic recovery, employers chopped 85,000 jobs last month, and difficulty finding work helped chase more than half a million people out of the job market.

The unemployment rate held steady at 10 percent. It did not creep higher only because so many people stopped looking for work and are technically not counted as unemployed.

But the jobless rate is likely to rise in coming months as more people see signs of an improving economy and start looking for work again. Some economists think it could near 11 percent, which would be the highest since World War II, by June.

It was the second straight month the unemployment rate came in at 10 percent. The only reason it didn't rise was that 661,000 people stopped looking for jobs and left the work force.

In a normal economic recovery, more people would be entering, not leaving, the job market. If those people hadn't dropped out, the rate would have hit 10.4 percent in December, according to an estimate by the Economic Policy Institute.

The House has passed a bill intended to generate jobs, extend unemployment benefits and a health insurance subsidy and provide other aid. But the Senate is reluctant to go along. Republicans say Obama's first stimulus package hasn't been effective.

Read the full article at:

http://news.yahoo.com/s/ap/20100108/ap_on_bi_go_ec_fi/us_economy;_ylt=AhFecHa2Z0PCQe2HhCabtsdv24cA;_ylu=X3oDMTJ2a3NsY2hxBGFzc2V0A2FwLzIwMTAwMTA4L3VzX2Vjb25vbXkEY2NvZGUDbW9zdHBvcHVsYXIEY3BvcwMzBHBvcwMzBHNlYwN5bl90b3Bfc3RvcmllcwRzbGsDZWNvbm9teWxvc2Vz

[DebbieCDC]

1. "Suggests"????

Let's tiptoe around the truth a little more shall we?

[xchrom]

2. Axelrod will figure out another plan

That marries corporation and government -- giving away
billions in tax dollars to fat cats so that they will
hire people.

Then he'll send Obama on the road for a rock tour
to sell the idea.

[Bitwit1234]

3. Of course. If people thought big business would produce jobs

they are crazy. The want the republicans back in so they can continue their raiding of the American citizens taxpayer coffers.

[MUAD_DIB]

4. The Republicans will have to push something besides a tax cut.

If people are out of work then they are out of work.
Tax cuts will not help you if you are not making anything to be taxed on.

It is true that there very well may be a "throw the bums out phenomenon", but they GOPygs better have a better Idea or they will just get killed as well.