Sep 05 2008
Unemployment hits 6.1%
NEW YORK (CNNMoney.com) — The unemployment rate soared to a nearly five-year high in August as employers trimmed jobs for the eighth straight month, the government reported Friday.
The unemployment rate rose to 6.1%, the highest level since September 2003. That’s up from 5.7% in July and 4.7% a year ago.
In addition, the economy suffered a net loss of 84,000 jobs in August, according to the U.S. Department of Labor, compared to a revised reading of a 60,000 job loss in July.
The U.S. economy has lost 605,000 jobs so far this year.[..]
The unemployment rate doesn’t tell the whole picture about how difficult the job market has become. It only counts those who looked for work during the month; it excludes the unemployed who want jobs but have stopped looking for work. And it also doesn’t count those who want full-time jobs but can only find part-time positions.
The so-called underemployment rate, which includes those two other groups, rose to 10.7% – the highest reading since 1994.
Enjoying this, are you? Then you’ll want to vote for Republicans in November. That way you can be sure the next four years will make you absolutely ecstatic.
Related: “U.S. Rescue Seen at Hand for 2 Mortgage Giants.”
19 Responses to “Unemployment hits 6.1%”
Ummm… when Bush took over in 2001 it was at 4.2. After 6 years of Bush and Republicans in the House it was 4.6. Then the Democrats took control of the House. Here is a month by month breakdown of the unemployment rate since they got there.
2007-01-01 4.6
2007-02-01 4.5
2007-03-01 4.4
2007-04-01 4.5
2007-05-01 4.5
2007-06-01 4.6
2007-07-01 4.7
2007-08-01 4.7
2007-09-01 4.7
2007-10-01 4.8
2007-11-01 4.7
2007-12-01 5.0
2008-01-01 4.9
2008-02-01 4.8
2008-03-01 5.1
2008-04-01 5.0
2008-05-01 5.5
2008-06-01 5.5
2008-07-01 5.7
2008-08-01 6.1
Doccumentation.
So, you were saying?
@Steve :
Ummm… I was saying exactly what I said, my friend. I’m actually kind of surprised you didn’t try to pass it off onto Bill Clinton. Or, better yet, Jimmy Carter.
P.S. Go take a look at that site you linked to again. Pay special attention to the years before the Democrats “took control of the House.” Look at 2002 through 2006. You were saying?
It seems to me that the ad should have just read “Tired of Failed GOP Leadership? Then elect new leadership!” The state of the economy, the price at the gas pumps, the unemployment rates, the subprime mortgage crisis, et al, is a sign that this country is in dire need of a change from the GOP form of “leadership.” Thanks for the great post.
Great, after four years out of the country I’ll probably be moving back and looking for work. This doesn’t give me much confidence in finding anything decent. Good thing my wife is a teacher…maybe she can support me.
@ChinaMatt : Good luck!
The only one’s to blame for our economic woes are the Democrat controlled congress. We were doing fine prior to 2006 when they took over. There’s a reason why they’ve been labeled the “Do Nothing” Congress and their rating is at 9%. Since they took over the housing market has crashed, unemployment is up, inflation is up, we’re teetering on recession, gas prices are through the roof, etc. I’ll be glad when the Republicans control the house again – now that they know where they made the mistakes and why we threw their asses out.
Also – I don’t know how you feel about these things…but…if you want it…I passed on the Kick Ass Blogger award to ya.
@The BoBo : You made me smile, BoBo! Like I told Steve up there, I’m actually surprised you didn’t blame it all on Bill Clinton or Jimmy Carter. Yep, it’s all Congress’ fault and it all started when the Democrats took over in January of ‘07. That’s the ticket. Look, the Republicans controlled everything – the White House, the Senate, the House of Representatives and the Supreme Court – for six years. The Democrats have been in control of only the Senate (barely) and the House of Representatives for less than two years. Yet, everything that is wrong is because of the Democrats.
I’ll be glad when the Democrats are in control of everything. Perhaps then they can get something accomplished without all the obstructionism from the Republicans.
Your turn.
Oh, and thanks for the award. Whoever dreamed up those things really hit on a good way to get hits for their own sites, didn’t they? (How come you always have to link back to creator of the award?)
I agree with BoBo in that it is the Democrats fault. The Republicans may have started this, but the Democrats had a chance to fix it when they were brought in. They did nothing. I actually supported the Democrats in 2006 hoping that they would actually bring all of the change and hope they claimed that they would. I was utterly disappointed.
@Uriel : So in less than two years the Democrats are supposed to fix everything that the Republicans broke in twelve (1994-2006)? And, they are supposed to do it with only a one vote majority in the Senate? (If you count Joe Lieberman, which most people don’t.)
You folks need to climb out of this fantasy land in which you are living. Really, you do.
Well, I didn’t say everything, just some of the things. I agree on that point though, total change can’t be achieved in only two years. Another reason I lost hope in the Democrats was because I thought that they would work with the Republicans to get stuff done, but now it seems the opposite. They just pass stuff without debate(literally without debate, as they have a majority in house). Don’t get me wrong, Im sure the Republicans would do it too. I just expected more from the party that I supported.
@Uriel :
Actually, if you were paying attention, that is exactly what the Republicans did. And they did it to a much greater extent than the Democrats could even dream of. They would pass bills without even giving the Democrats a chance to read them, let alone debate them. Payback is hell, isn’t it?
Please don’t give me this “party I supported” stuff. There is just a bit too much of that going around this year. Remember all those “Hillary supporters” who are now saying they are going to vote for McCain? Sorry, not buying it.
Nothing wrong wih 6.1% unemployment, Bush has done a great job and anyone saying otherwise is unpatriotic!
You might not believe it, but it is true. I supported the Democrats. Then I stepped and saw that they didn’t stand for what I stood for, so I went to the Republicans. Then I stood back and saw that they too didn’t stand for what I stand for. Now I supporting the Libertarians. Hopefully they won’t surprise me too.
@Uriel : Good luck. I hope you’re able to find somebody who stands for what you stand for.
Of course you are. You belong to the party of blame shifting. In your post, you shifted the blame to Bush, so you expected me to shift it somewhere else where it didn’t belong. But I didn’t. I put it square on the appropriate shoulders, and that surprised you. It shouldn’t, but it did.
As for the other dates, by comparing the rises and falls with surrounding disasters, it all makes sense. It started a slow rise following the 9/11 disaster that eventually capped at 6.3 before coming back down to 4.4. Then, following the disaster that is our current Congress, it began another slow rise that will hopefully cap at 6.1.
I would like to see you happy. This gives me hope. Perhaps I will see you happy after all… in 2012.
Len – not gonna rehash everything that everyone else has already said in support regarding the Dems not effecting the change they promised.
But re: the award – I know what you mean. But – I just pass them on to help other bloggers get backlinks. I have seen a few where it doesn’t link all the way back to the individual who first created it. In this case though – this one does. Anyway – whether you decide to pick it up or not – just wanted to let you know that despite our differences – you still have a great thing going on over here.
@Steve :
Wow. Talk about transference! You know dang well that everything bad that has ever happened to or been done by a Republican is the fault of the Democrats.
Oh, I think you’ll see me happy long before 2012. In fact, I’m happy right just anticipating what is going to happen in about two months’ time.
@The BoBo :
Thank you, sir. You just made my entire weekend!
OK boys and gurls…you’re going to have to suck it up and be woman and men. The whole dang country is a disgusting stupid unrelenting frigging world full of over rated geniuses without a clue in stability or emotions of fair understanding how to get this country out of the economy pit fall we’re in which has us up to our necks as time is running out to get control of the home land and its people that live it for better or worst.
Who loves you baby?