Jobless rate to be over 8% in 2012: White House

[xchrom]

http://www.marketwatch.com/story/jobless-rate-to-be-over-8-in-2012-white-house-2011-09-01

WASHINGTON (MarketWatch) — President Barack Obama will attempt re-election with an unemployment rate of 8.2%, the White House estimated Thursday as it laid out its economic forecasts.

The unemployment rate the White House predicts for the fourth quarter of 2012 would be the highest for an incumbent since Franklin Delano Roosevelt successfully was re-elected in 1936 with a 16.6% unemployment rate. Jimmy Carter lost when he attempted re-election with a 7.5% unemployment rate.

The U.S. unemployment rate will average 8.8% this year, falling from a previously estimated 9.3% as the economy grows at a moderate pace, the White House added.

[Newest Reality]

1. Wishful thinking?

Or does one file that under propaganda?

Oh, wait ... they can then can act "surprised" or "shocked" at the "unexpected". The pattern is obvious and I would enjoy astrology charts or psychic readings much more than this kind of management of perception prescience.

The numbers they present do not represent the actual unemployment situation, anyway.

[xchrom]

2. Experts, business leaders downbeat on global economy Close

http://economictimes.indiatimes.com/news/international-business/experts-business-leaders-downbeat-on-global-economy/articleshow/9838483.cms

CERNOBBIO, ITALY: Business leaders and finance experts gathered in Italy offered a downbeat assessment of the global economy on Friday, with several predicting another recession due to a calamitous cocktail of sluggish growth, eurozone dysfunction, and financial market volatility.

The year's events, from natural disasters and violent uprisings to fears of debt defaults, have not only sent shock waves through the financial world but also caused a slump in confidence among consumers and industry.

``There is a significant probability of a double-dip recession,'' pronounced New York University economist Nouriel Roubini, in opening remarks that lived up to his nickname of ``Dr. Doom'', earned for forecasting a financial crisis years before the 2008 crash, even as many reveled in the boom times.

On this occasion Roubini seemed to reflect prevailing sentiment at the annual Ambrosetti Forum on the shores of an overcast Lake Como, although some felt that at least the emerging economies and a few countries in northern Europe would do fine.

[scheming daemons]

3. Looks like the FUD memo went out... detecting a theme on du today

[sam11111]

4. 0% jobless would give us a landslide win. WPA can give 0% in 4 months

Tell Obama this, you
staffers who lurk here
Thanks
PS Michael Moore and Robert Reich (ex Secretary of Labor, Clinton) have called for

"A new WPA"

And, the new workers spending would be the stimulus needed to end the recession.

Prosperity and a landslide win -- easy to do!

Zero % could be forever .. With a permanent WPA.

Sweden made this the FOUNDATION of their welfare state. It is that important and works that effectively. They kept it under 1% for 30 years IIRC... Till neolibs bribed and lied their way to power about 1991.

http://www.njfac.org

[Dreamer Tatum]

8. If you think that many of the unemployed will do manual labor for a living

you are dreaming.

In the 30's, people didn't know any other way. Nowadays the unemployed have degrees and would sniff at wearing a hardhat.

[DemocratSinceBirth]

11. Even Back In The Day The WPA Created A Small Fraction Of The Jobs Needed

Also, lots of the unemployed are incapable of doing manual labor.

[WI_DEM]

5. But that is progress since unemployment went above 10%

and Obama would just need to make the case that the DEPRESSION he inherited from Bush was much worse than thought but that the country is making progress and ask if they want to keep on with the progress or go back to the type of policies that got us in this mess.

[sam11111]

6. Good point . nt

Nt

[FBaggins]

7. "Just"?

That's a mighty tall order to get labeled with a "just".

"Imagine how bad things would have been" - even if true - is not an effective campaign strategy. Paticularly when you promissed quite a bit more.

IOW... if things don't improve I'd expect that a decent plurality will still blame bush for the downturn... but a majority will be certain that Obama isn't a man capable of fixing it. Since Bush won't be on the ballot and Obama will, that's a recipe for disaster.

[Broderick]

9. That won't fly anymore I think

People are getting restless. Saying what could have been to folks losing their homes, cars, jobs, and livelihood is getting tiresome. Folks struggling with grocery and gas prices aren't saying whew, just think how much worse I could be off. Most people don't live in the bubble of political echo chamber message boards.

[xchrom]

10. kick

[DemocratSinceBirth]

12. I'd Make A Wager That In 11/12 The Unemployment Rates Is = Or > Than It Is Now

~

[FBaggins]

14. And the critical cutoff is really 5/12 or 6/12.

If we're lucky. Many people form their impression of the economy well before then.

[DemocratSinceBirth]

15. It Is Never Going To Be 8.2% By 5/12

No way...

[FBaggins]

16. Of course you're right.

The best that we can hope for is noticable ongoing improvement by that time.

If it's 8.5% and has fallen each of the prior six months, there's at least a chance that people will see that as favorable.

[Safetykitten]

13. They wish. But they won't be around anyway. A republican will be dealing with it.