Jamesb101.com

commentary on Politics and a little bit of everything else

Higher Unempolyment is one the way……

I saw this story two weeks ago…..

I think I might have mentioned it in a post…..

But the fact this story is another one of those ….You know it’s coming….

Oh, Yea now I remember…

The numbers went lower because the government has hired a lot of people for the census…and those people will leave those jobs starting in July….

Also people who start loking for jobs again (after losing benefits ) and the graduating college students go into the job market…

The media is gonna throw these higher numbers in Obama’s lap….

The GOP probably has their talking points already lined up…..

Unemployment is likely to surge above 10 percent during the next few months as millions of “missing” workers return to the labor market.

This will pose a huge challenge for the Obama administration and congressional Democrats, who want to run in 2010 on the back of a strengthening economy.

Economist Mark Zandi expects the unemployment rate to float above 10 percent during the next few months as workers look to take advantage of improving opportunities.

“The increase in unemployment is a sign of a stronger job market, but it is also a sign of how weak the job market still is and vulnerable the recovery is to anything that might go wrong,” Zandi wrote in an e-mail to The Hill.

“Missing workers” are unemployed people who have stopped collecting benefits and stopped looking for work — thereby dropping off the radar. When they start looking for work again, they get counted as unemployed.

As many as 2.4 million of these workers have yet to return to the labor market, estimates Heidi Shierholz of the Economic Policy Institute. As those workers start searching for jobs, the unemployment rate is likely to tick higher.

In April, 805,000 “missing workers” re-joined the labor pool, causing the unemployment rate to jump to 9.9 percent even as the economy created jobs.

Economists think that trend could build in the coming months.

There’s little doubt the economy is emerging from the “Great Recession” of 2007-08…..

More……..

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May 13, 2010 - Posted by | Blogs, Breaking News, Counterpoints, Government, Media, Men, PoliticalDog Calls, Politics, The Economy, Updates, Women | , ,

1 Comment »

  1. […] This post was mentioned on Twitter by James Finley. James Finley said: Higher Unempolyment is one the way……: http://wp.me/pAL4p-2Pq […]

    Pingback by Tweets that mention Higher Unempolyment is one the way…… « PoliticalDog101.com -- Topsy.com | May 13, 2010 | Reply


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