"znuybv" <tjwilson@[EMAIL PROTECTED]
> wrote in message
news:4ae31cbb-3c1c-4d11-bc42-8c1234518dbe@[EMAIL PROTECTED]
Jul 3, 9:22 pm, "Titix" <nos...@[EMAIL PROTECTED]
> wrote:
> "znuybv" <tjwil...@[EMAIL PROTECTED]
> wrote in message
>
>
news:65179fe1-cad1-4c86-8ec8-d4a5abff0454@[EMAIL PROTECTED]
> On Jul 3, 10:58 am, Clay <Clays0n...@[EMAIL PROTECTED]
> wrote:
>
> > On Jul 3, 1:16 pm, leftist gloats:
> > ...
>
> > > On Jul 3, 11:54 am, 4114 Dead <ze...@[EMAIL PROTECTED]
> wrote:
>
>
>http://www.nytimes.com/2008/07/04/business/04jobs.html?_r=1&hp&oref=s...
>
> > > > Employers Cut Workers for a Sixth Month
>
> > > > Article Tools Sponsored By
> > > > By MICHAEL M. GRYNBAUM
> > > > Published: July 4, 2008
>
> > > > About 62,000 jobs disappeared in June, the government re****ted
Friday,
> > > > the sixth consecutive month that payrolls have declined, as
businesses
> > > > rushed to lay off workers amid the worst economic climate in a
> > > > generation.
>
> > > > And as job losses mount, even those still on payrolls have felt
the
> > > > pain: employers are cutting hours for their full-time employees
and
> > > > shrinking salaries, just as workers face record-high prices for
> > > > gasoline and food.
>
> > > > The unemployment rate stayed steady in June at 5.5 percent, the
> > > > highest level in four years. The elevated figure dispelled
speculation
> > > > among some economists that last month’s half-percentage point
jump,
> > > > the biggest monthly spike in 22 years, was a statistical anomaly.
>
> > > > Indeed, employers have been steadily shedding jobs for the last
three
> > > > months. Businesses cut 52,000 more workers in May and April than
the
> > > > government first thought, the Labor Department said, casting aside
> > > > initial estimates that suggested some deceleration.
>
> > > > In the last 12 months, the economy had seen a net gain of only
15,000
> > > > jobs, the lowest net increase since November 2003.
>
> > > > In the last 50 years, the economy has entered a recession every
time
> > > > jobs have dropped for six consecutive months.
>
> > > > And most Americans who are still employed earned less money in
June
> > > > than they did a year ago. Wages, which have been steadily
shrinking
in
> > > > recent months, took a sharp hit last month, growing at the slowest
> > > > pace since September 2005.
>
> > > > Among rank-and-file workers, who make up the majority of the
nation’
s
> > > > work force, weekly paychecks have grown 2.8 percent in the last 12
> > > > months. That was down from 3.2 percent in May and well below the
rate
> > > > of inflation.
>
> > > > Average hourly earnings grew 3.4 percent, the slowest pace since
the
> > > > start of 2006.
>
> > > > The drop in payrolls was in line with many economists’ forecasts,
and
> > > > stocks on Wall Street were trading higher on some relief that the
June
> > > > numbers were not worse.
>
> > > > The presumptive presidential candidates quickly weighed in on the
> > > > numbers, with each calling for changes that fell along ideological
> > > > lines.
>
> > > > “At a time when our small businesses need sup****t from Wa****ngton,
we
> > > > cannot raise taxes, increase regulation and isolate ourselves from
> > > > foreign markets,” Senator John McCain, the Republican candidate,
said
> > > > in a statement. He called for tax relief, job creation, and
investment
> > > > in innovation.
>
> > > > Senator Barack Obama, the Democratic candidate, attributed the
> > > > downturn to “the failed economic policies of the past eight years”
and
> > > > said his opponent “has fully embraced the Bush economic agenda.”
>
> > > > “I’m calling on Congress and the president to enact real,
immediate
> > > > relief with energy rebates for working families this summer, a
fund
to
> > > > help families avoid foreclosure, extended benefits for the
long-term
> > > > jobless, and assistance to states that have been hard-hit by the
> > > > economic downturn,” Mr. Obama said.
>
> > > > June’s job losses affected a range of industries, including banks,
> > > > construction companies, manufacturing firms and car dealer****ps.
> > > > Janitors and administrative workers were the hardest hit, with
about
> > > > 70,000 workers losing their jobs last month alone. Temp agencies
lost
> > > > 30,000 jobs.
>
> > > > Among the few businesses still hiring were restaurants, government
> > > > agencies and health care companies. Mining companies also added
> > > > workers last month.
>
> > > > “The weak bargaining power of most workers means they are subject
to
> > > > pressures from three sides: declining jobs and hours, slower
hourly
> > > > wage growth, and faster price growth,” Jared Bernstein, of the
> > > > Economic Policy Institute, wrote in a note. “This puni****ng
> > > > combination is lowering their living standards.”
>
> > > > Jan Hatzius, chief domestic economist at Goldman Sachs, said the
weak
> > > > re****t suggests that the Bush administration’s efforts to revive
the
> > > > economy have fallen short.
>
> > > > “It is a sign that the fiscal stimulus, the tax rebates, are not
> > > > having much of an impact on the broader economy,” Mr. Hatzius
said.
>
> > > > And there is little relief on the horizon. The softening job
market
> > > > has prompted millions of families to reduce their spending,
further
> > > > hurting businesses and the economy as a whole. Soaring prices for
food
> > > > and gasoline are overwhelming modest wage gains for most workers,
> > > > leaving households with even less money to spend.
>
> > > > “The labor market is clearly deteriorating, and it’s highly likely
to
> > > > keep deteriorating,” Andrew Tilton, an economist at Goldman Sachs,
> > > > said earlier this week. “It’s clear that the housing downturn and
> > > > credit crunch are still very much under way. Clearly, there are
more
> > > > jobs to be lost in housing, finance and construction — hundreds of
> > > > thousands of more jobs to be lost collectively.”
>
> > > > The national unemployment rate climbed a full percentage point
over
> > > > the last year. That does not include people who are jobless and
have
> > > > given up looking for work, or people who have been bumped to
part-time
> > > > jobs from full time. Add in those people and the so-called
> > > > underemployment rate rises to 9.9 percent. “The number of these
> > > > underutilized workers is up over one million over the past year,”
Mr.
> > > > Bernstein wrote.
>
> > > > A separate re****t on Thursday revealed unexpected weakness in the
> > > > services sector. An activity index devised by the Institute of
Supply
> > > > Management dropped to 48.2 in June from 51.7 in May, on a scale
where
> > > > readings under 50 show contraction. Businesses were pressured by
> > > > significantly higher prices and a drop-off in customer demand.
> > > > Employment levels fell as well.
>
> > > > Peter S. Goodman and Louis Uchitelle contributed re****ting.
>
> > > > "I want justice...There's an old poster out West, as I recall,
that
> > > > said, 'Wanted: Dead or Alive,'"
> > > > - G.W. Bush, 9/17/01, UPI
>
> > > > "I don't know where bin Laden is. I have no idea and really don't
> care.
> > > > It's not that im****tant. It's not our priority."
> > > > - G.W. Bush, 3/13/02
>
> > > > Pay your taxes so the rich don't have to.
>
> > > > For the best in liberal/leftist commentary,
>
> visitwww.zeppscommentaries.com
>
>
>
> > > It's not a recession til the "decider" says so....Ha Ha Ha Ha Ha
>
> > Pavlov's dogs... bad news for America, leftists dance and laugh.
>
> > No surprise.
>
> > -C-
>
> It will be fun to see how the left wing explains the 10%-15%
> unemployment in Obama's first year in office.
> -----
> We know Obama is going to get the country in worse shape than they're
> telling us. I won't be surprised the unemployment will be in the 10 to
15%.
> You can't blame that on Obama, that's what the Republicans are going
> to leave for him. Clinton left Bush with a surplus and Bush is leaving
Obama
> with a $9.5 trillion in debt and counting, an energy crisis with
gasoline
at
> over $4.50 per gallon, war in Iraq with an expenditure of $12 billion
per
> month,
> with our roads and bridges in dire need of repair, our schools in a mess
and
> our entire country in a disarray. Our dollar has hit the toilet bowl.
> And you think it will be fun to see it? You should have your head
examined,
> moron!
Gasoline did not reach $4.50 until the Dems took control of both
Houses.
I do agree with you however that the deficit will increase if Obama
becomes president.
----------------
Where did I say the deficit will increase if Obama becomes president?
Obama is going to receive the country in such a mess that's going to be
difficult to operate without raising tax, I just hope he'll do it only on
the
very rich because the rest are seeing their standard of living going down
steadily. In the last few years the gap between the very rich and the
middle
class has widened considerably, and if the trend continuos, the middle
class
will disappear. Obama has a big job cut out for him. If it is McCain you
can
count with the elimination of middle class in US.
Gasoline was going up and up way before Democrats took control of
Congress.
The multi-national oil cor****ations are itching to get all the oil in US
and
they
are going all out propagandizing the drilling off shore and Alaska which
will not
help at all with price of gasoline.
Our best way to get out of this mess is to diversify our dependence on
fuel.
And
that will also see our dollar raise to its normal value.
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