Jobless Claims in you.S. Unexpectedly Increase as Dismissals Remain Elevated:
Initial jobless claims rose by 25,000 to 471,000 in the week ended May 15, exceeding the median forecast of economists surveyed by Bloomberg News and the highest level in a month, Labor Department figures showed today in Washington. Ref. Source 9
Yes I don't think there even was a recovery. We just threw a bunch of money in a bottomless hole and expected the problem to go away. I hope they can figure this out and turn the economy around because I have no idea how to do it.
Also I did find a job and will be starting on Monday but, I will be working overtime Monday threw Friday. It isn't a huge problem but I really prefer to work normal hours, I get burnt out pretty fast otherwise. My point is a lot of the jobs that are available have a catch involved. I have heard of companies laying off or trying to fire their employees that have been there for years and years. Then replacing them with temps who get no benefits and get paid much less. Plus temps don't complain because they are usually desperate and don't feel like they can complain.
I am scarred at what this country will look like in 2020.
International Level: Junior Politician / Political Participation: 70 7%
It is really scary how all this is playing out. You can see it happening and it's like waiting for a smack in the face with your eyes closed, not knowing when the person is going to do it. Not that I have ever been in that situation but I can imagine.
You know it is coming and are bracing yourself for it. Almost like you can feel it coming. The bonus for me is I am already considered lower class so it's not like I have a whole lot to loose. The problem for me is everything rolls downhill. So when it does come I am sure the lower class will take the brunt of it.
I don't want to imagine what that is going to be like considering how volatile our nation is already.
International Level: Junior Politician / Political Participation: 70 7%
431,000 jobs added! But 411,000 of them temp government workers
Government takes over GM, government takes over banks, government hiring all the workers --- notice a trend here? Obama is already running around the country touting the slight dip in the unemployment rate (9.9% down to 9.7%) and all the mindless Obama followers dutifully cheer, apparently not realizing that they are the ones paying for the 'recovery'. Ref. Glenn Beck - Source 3
Long-Term Unemployed Now 46 Percent Of Unemployed, Highest Percentage On Record
The proportion of people jobless for six months or more has accelerated in the past year and now makes up 46 percent of the unemployed. That's the highest percentage on records dating to 1948. By late summer or early fall, they are expected to make up half of all jobless Americans. Ref. Source 3