New Unemployment Claims Rise "Unexpectedly"

[Townsend]

Unemployment now down to 8.9%, which is a surprising improvement.  The three month pace is the fastest drop in 28 years, and economists had projected that we'd be at 9.2%.

OK, now I can do the...Yay, Obama did it in spite of the republican controlled house and the tea party express trying to screw things up...yay.  Finally cleaning up some of the previous administration's messes.

O-Bam-A
O-Bam-A
O-Bam-A

Edited to add:

http://www.npr.org/blogs/itsallpolitics/2011/03/04/134258014/boehner-good-jobs-data-due-to-tax-cuts-not-obama-stimulus?ft=1&f=1001&sc=tw&utm_source=twitterfeed&utm_medium=twitter

Economists at the non-partisan Congressional Budget Office may credit the economic stimulus enacted by President Obama and the previous Congress for boosting economic growth and jobs through the end of last year (and presumably into this year.)

But Speaker John Boehner and the House GOP won their majority in part by arguing that the stimulus was a bust.

Because congressional Republicans view federal spending as the economy's main threat and tax cuts as the real stimulation for economic growth, Boehner credited the December deal to extend the Bush tax cuts for February's positive jobs data.

 
The U.S. Labor Department reported that the economy produced 192,000 jobs in February with the jobless rate falling to 8.9 percent, dropping below 9 percent for the first time since Spring 2009

[we vs us]

If you're college educated, the unemployment rate is barely noticeable.  If you've got a HS diploma or less, it's all around you. 

[Conan71]

Apparently Alan Greenspan is no fan of dumpsters full of stimuli and more regulations.  What he says explains a lot of the reasons companies have sat on cash and not been interested in significant hiring or growth.  Granted, Greenspan is but one voice and from one school of thought.  However, he understands human behavior and fear are the most relevant movers in this economy, not esoteric theory.

"Greenspan, as could be expected for a free market economist, takes a dim view of Obama administration economic policy. Everything from stimulus spending to the heavy issuance of treasury bonds to an overabundance of regulations to housing subsidies are combining to hold back the economic recovery."

"Greenspan believes a lot of private investment money is on the sidelines as businesses fear Obama administration policies will erode the return of any investment. This has a vicious cycle. Obama administration attempts to "fix the economy" makes private investors more skittish, which causes the economy to continue to be anemic, which causes the Obama administration to try to "fix the economy."

Scrub, rinse and repeat.

The solution implied by Greenspan's assessment would be for the federal government to stop trying to be so helpful. If private investors were no longer afraid of what the Obama administration is going to do, they would be more willing to invest money in new business ventures, then the economy would start to expand, hiring would pick up, and at last the current recession would be an unhappy memory."

http://news.yahoo.com/s/ac/20110307/pl_ac/8011586_alan_greenspan_obama_economic_policy_slowing_recovery

[nathanm]

Yes, Greenspan, the one whose easy money policies put us in the dumper is the guy we ought to listen to on how to get out. I'd read the article, but I'd need to take it with a grain of salt so large it would probably trigger a heart attack.

[heironymouspasparagus]

Greenspan - the one who promised 'enlightened self interest' as monetary policy would be good for the economy.  Which is why we are here;

http://news.yahoo.com/s/yblog_thelookout/20110223/ts_yblog_thelookout/separate-but-unequal-charts-show-growing-rich-poor-gap

Vapor lock.

[Gaspar]

Greenspan - the one who promised 'enlightened self interest' as monetary policy would be good for the economy.  Which is why we are here;

http://news.yahoo.com/s/yblog_thelookout/20110223/ts_yblog_thelookout/separate-but-unequal-charts-show-growing-rich-poor-gap

Vapor lock.

Again. . .Fannie Freddy bubble.

[heironymouspasparagus]

Again - AIG, Citibank, Lehmen Brothers (allowed to crash), financial bailout.  All brought to you by 'you know who'.  And for the clueless among us, no, it was not Obama.

[Conan71]

Again - AIG, Citibank, Lehmen Brothers (allowed to crash), financial bailout.  All brought to you by 'you know who'.  And for the clueless among us, no, it was not Obama.

Chris Dodd and Bawney Fwank?

[Gaspar]

Chris Dodd and Bawney Fwank?

The banking queens.

[heironymouspasparagus]

All the above!

That is exactly why I keep saying "Vote NO"!  On any incumbent.

[Gaspar]

All the above!

That is exactly why I keep saying "Vote NO"!  On any incumbent.

Well, I was thinking of supporting President Obama, but I think I'll take your recommendation instead. 

[heironymouspasparagus]

Exactly!  Obama, too.
And even closer to home and much more important - Inhofe.
Coburn is self limiting as he promised.

[guido911]

9.1% Unemployment.

http://www.marketwatch.com/story/job-growth-slows-to-54000-in-may-rate-up-to-91-2011-06-03

Welcome to recovery summer...

[Conan71]

9.1% Unemployment.

http://www.marketwatch.com/story/job-growth-slows-to-54000-in-may-rate-up-to-91-2011-06-03

Welcome to recovery summer...

Wow! So if not for the McDonalds mass hire of 50,000, we would have only had 4000 new jobs created in May? 

Change you can believe in!

[Teatownclown]

Economists have been predicting this static situation so why is this thread worthy?

Scapegoating for Shrub's follies won't help. Anyone who pays attention knows the unemployment situation is not going to change quickly unless:

1) a new "big development" i.e. green energy technology OR some other big advancement ...
2) There's 2 trillion dollah in infrastructure demand, lousy money velocity, and ugly political games. Print more money and reinflate the economy. Get money moving instead of hoarding (which may mean getting rid of fear by censoring Boortz, Hannity, Beck, Limbaugh, and FOX all of whom seem to be compounding the angst by propagating their political agenda).