Beat It

http://www.youtube.com/watch?v=Uqxo1SKB0z8

UPDATED

Unemployment Numbers Higher Than Published.

Unemployment Skyrockets to 9.5 Percent

http://www.youtube.com/watch?v=ILBqeuIjRWk

Economic Expectations – Unemployment Rate May Reach 15% – Bloomberg

VP Joe Biden: Sorry America but “we misread how bad the economy was”

Series Id:           LNS13000000
Seasonal Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Series Id:           LNS14000000
Seasonal Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent
Age:                 16 years and over

“A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned – this is the sum of good government. ”

~Thomas Jefferson
 

AP Interview: Obama on the Economy

In-Depth Look – Jobless Claims – Bloomberg

Unemployment Will Rise – Bloomberg

Two Guys in a Newsroom (July 2, 2009)

The US Government’s Bureau of Labor Statistics publishes several measures of the unemployment rates.

U-3 Total unemployed, as a percent of the civilian labor force is the rate most often cited on newscasts and articles.

In June the U-3 unemployment rate hit 9.5% with the total civialian labor force of about 155 million.

This means that there were about 14,700,000 unemployed Americans in June.

Unfortunately, U-3 actually understates the number of unemployed and those seeking a full time job.

A more meaningful number is U-6 for it includes the so-called marginally attached workers and those working part-time that want a full time job.

U-6 Total unemployed, plus all marginally attached workers and total employed part time for economic reason as a percent of the labor force hit 16.5%

This means that there were over 25 million Americans seeking a full time job from the total civilian labor force of just under 155 million.

This means that there are now over 12,000,000  more Americans seeking full time jobs that the worst year of The Great Depression, 1933, when there were about 13 million Americans unemployed.

Looks like President Obama will soon almost double FDR’s record of  13 million with over 26 million unemployed measured by the U-6.

Expect the number of uemployed measured by U-3 to exceed 15,000,000 in July with an unemployment rate at or near 10%.

I fully expect the U-3 unemployment rate to hit 13% by December  and the U-6 unemployment rate to go over 20%.

The recession will last at least another year based on the failed economic polices of President Obama.

President Obama–the Green President–will have a record of total failure surpassed only by President Franklin D. Roosevelt.

President Obama now owns the recession, soon to become a Depression when it should be rightfully named the Obama Depression or OD for short.

This will be shortly followed by rising inflation or price levels that should start by late 2010  or early 2011 at the latest.

The time is now to stop the failed irresponsible fiscal economic policies of  massive Government  spending and deficits to stimulate the economy.

President Obama’s economic policies are resulting in ten of millions of Americans being unemployed for a much longer time due to massive Government intervention into the economy that does not inspire business and consumer cofidence but fear of runnaway spending, taxes and inflation.

These policies did not work in Japan in the 1990s, Great Britain in the 1970s and the United States during the 1920s during the Great Depression.

Turning Japanese – Is the US Creating Its Own Lost Decade?

Milton Friedman explains role of gold in Great Depression

President Obama  has also proposed largest “hidden” tax increase in the history of the United States in a middle of a recession–the Cap and Trade Energy Tax that would wreck the US economy, destroy even more jobs and kill the American dream.

Time To Sound The Alarm: Call Your Representative and Senators–Cap and Trade Bill to be Voted in U.S. House on Friday–Kill The Cap and Trade Energy Tax Today! UPDATED

Only fools and Green Presidents do not learn from the mistakes of others.

The American people do not suffer fools and Presidents gladly when Presidential economic policies and Congressional laws are hurting their families, friends and community.

History will once again repeat itself when President Obama like Presidents  Herbert Hoover and Jimmy Carter before him becomes a one-term President for ignoring the will of the people.

Thank God for small miracles and the opportunity to vote out of office both Democrats and Republicans that voted for the massive bailouts, stimulus bills, and the largest tax increase in US history the Cap and Trade Energy tax. 

Our Economic Crisis — History Repeated?

 Stop Spending Our Future – The Crisis

Stop The Spending and Deficits

US Federal Government Deficits

Join the Second American Revolution

The Meaning of Independence Day

All Americans, especially those that are currently unemployed, are invited to attend an Ice Tea Party this Saturday to Celebrate Independence Day!

AFA Registered TEA Parties on July 4 now in 1425 Cities!

“The America’s Independence Day Tea Party Movement is a nationwide demonstration forum for any and all groups and individuals dissatisfied with the current governance of the United States, regardless of ideology, partisan identity, or political affiliation. On July 4th, 2009, we are asking Americans everywhere to re-declare our inalienable rights to Life, Liberty, and the Pursuit of Happiness.” 

Tea Party Movement

Find An Indpendence Day Tea Party Nearest You

http://www.teapartyday.com/Locations.aspx

http://www.reteaparty.com/teaparties/

The American People Celebrate Independence Day–Saturday, July 4, 2009–By Marching in 1000 Cities and Towns and Attending Ice Tea Parties To Freeze Federal Government Spending, Taxes and Deficits–30 Million Expected Nationally–1 Million In Washington D.C.!

The long countdown to launch continues–all cities are ready to go–no holds expected–1 day and counting…get ready for the  relaunch of the Second American Revolution:

Liberty Launch Countdown to The Celebration of Independence Day–Saturday, July 4, 2009–Ice Tea Party Time To Freeze Government Expenditures, Deficits, Debts and Taxes–Expect 30 Million Nationally in 1,000 Cities and Towns and 1 Million in Washington D.C.!

 Tea Party, Fourth of July, Washington DC

http://teapartywdc.ning.com/events/tea-party-fourth-of-july

http://teapartywdc.ning.com/

Independence Day Tea Party, Lansing, Michigan, 2009

Tea Party Patriots Invite Janeane Garofalo for America’s Tea Party on July 4, 2009!

Katrina Pierson – Dallas Tea Party – April 15, 2009

Independence Day Tea Party July 4th, 2009 @ White River State Park

We Will Rock You 

“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them. “

~Thomas Jefferson

Background Articles and Videos

Find an Independence Day Tea Party

By Michelle Malkin 

THE EMPLOYMENT SITUATION:  JUNE 2009
                                  
   Nonfarm payroll employment continued to decline in June (-467,000),
and the unemployment rate was little changed at 9.5 percent, the Bureau
of Labor Statistics of the U.S. Department of Labor reported today. 
Job losses were widespread across the major industry sectors, with
large declines occurring in manufacturing, professional and business
services, and construction.

Unemployment (Household Survey Data)

   The number of unemployed persons (14.7 million) and the unemployment
rate (9.5 percent) were little changed in June.  Since the start of the
recession in December 2007, the number of unemployed persons has increas-
ed by 7.2 million, and the unemployment rate has risen by 4.6 percentage
points.  (See table A-1.)
  
   In June, unemployment rates for the major worker groups–adult men
(10.0 percent), adult women (7.6 percent), teenagers (24.0 percent),
whites (8.7 percent), blacks (14.7 percent), and Hispanics (12.2 per-
cent)–showed little change.  The unemployment rate for Asians was
8.2 percent, not seasonally adjusted.  (See tables A-1, A-2, and A-3.)
  
   Among the unemployed, the number of job losers and persons who com-
pleted temporary jobs (9.6 million) was little changed in June after
increasing by an average of 615,000 per month during the first 5 months
of this year.  (See table A-8.)
  
   The number of long-term unemployed (those jobless for 27 weeks or
more) increased by 433,000 over the month to 4.4 million.  In June, 3
in 10 unemployed persons were jobless for 27 weeks or more.  (See
table A-9.)

Table A-12. Alternative measures of labor underutilization

(Percent)

Not seasonally adjusted Seasonally adjusted

Measure

June May June June Feb. Mar. Apr. May June
2008 2009 2009 2008 2009 2009 2009 2009 2009

U-1 Persons unemployed 15 weeks or longer, as a percent
of the civilian labor force………………….. 1.8 4.6 4.8 1.9 3.4 3.7 4.0 4.5 5.1

U-2 Job losers and persons who completed temporary
jobs, as a percent of the civilian labor force…. 2.7 5.8 5.9 2.9 5.0 5.4 5.7 6.2 6.2

U-3 Total unemployed, as a percent of the civilian
labor force (official unemployment rate)………. 5.7 9.1 9.7 5.6 8.1 8.5 8.9 9.4 9.5

U-4 Total unemployed plus discouraged workers, as a
percent of the civilian labor force plus
discouraged workers…………………………. 6.0 9.5 10.1 5.9 8.5 8.9 9.3 9.8 10.0

U-5 Total unemployed, plus discouraged workers, plus
all other marginally attached workers, as a
percent of the civilian labor force plus all
marginally attached workers………………….. 6.7 10.3 10.9 6.6 9.3 9.8 10.1 10.6 10.8

U-6 Total unemployed, plus all marginally attached
workers, plus total employed part time for
economic reasons, as a percent of the civilian
labor force plus all marginally attached workers.. 10.3 15.9 16.8 10.1 14.8 15.6 15.8 16.4 16.5

NOTE: Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and
are available for a job and have looked for work sometime in the recent past. Discouraged workers, a subset of the marginally attached,
have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those
who want and are available for full-time work but have had to settle for a part-time schedule. For more information, see “BLS
introduces new range of alternative unemployment measures,” in the October 1995 issue of the Monthly Labor Review. Updated population
controls are introduced annually with the release of January data.

http://www.bls.gov/news.release/empsit.t12.htm

Series Id:           LNS11000000
Seasonal Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

 http://data.bls.gov/cgi-bin/surveymost

Series Id:           LNS12000000
Seasonal Adjusted
Series title:        (Seas) Employment Level
Labor force status:  Employed
Type of data:        Number in thousands
Age:                 16 years and over

http://data.bls.gov/cgi-bin/surveymost 

Seasonal Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Measures of labor underutilization from the Current Population Survey

Working Paper 424,  March 2009

Steven E. Haugen, U.S. Bureau of Labor Statistics

“…It is estimated that in 1933, at the depth of the Great Depression, about 13 million
persons in the U.S. were unemployed, which translates into an unemployment rate of
about 25 percent.1 However, those estimates were not available at the time. Throughout
the Great Depression, there was little information on the extent of unemployment in the
country. More important, there was no good way to assess whether the situation was
getting better or worse. The wealth of timely statistical information on the labor market
that we now take for granted simply didn’t exist.”  …”

http://www.bls.gov/osmr/pdf/ec090020.pdf

Great Depression
by Gene Smiley

“…A worldwide depression struck countries with market economies at the end of the 1920s. Although the Great Depression was relatively mild in some countries, it was severe in others, particularly in the United States, where, at its nadir in 1933, 25 percent of all workers and 37 percent of all nonfarm workers were completely out of work. Some people starved; many others lost their farms and homes. Homeless vagabonds sneaked aboard the freight trains that crossed the nation. Dispossessed cotton farmers, the “Okies,” stuffed their possessions into dilapidated Model Ts and migrated to California in the false hope that the posters about plentiful jobs were true. Although the U.S. economy began to recover in the second quarter of 1933, the recovery largely stalled for most of 1934 and 1935. A more vigorous recovery commenced in late 1935 and continued into 1937, when a new depression occurred. The American economy had yet to fully recover from the Great Depression when the United States was drawn into World War II in December 1941. Because of this agonizingly slow recovery, the entire decade of the 1930s in the United States is often referred to as the Great Depression. …”

“…It is commonly argued that World War II provided the stimulus that brought the American economy out of the Great Depression. The number of unemployed workers declined by 7,050,000 between 1940 and 1943, but the number in military service rose by 8,590,000. The reduction in unemployment can be explained by the draft, not by the economic recovery. The rise in real GNP presents similar problems. Most estimates show declines in real consumption spending, which means that consumers were worse off during the war. Business investment fell during the war. Government spending on the war effort exceeded the expansion in real GNP. These figures are suspect, however, because we know that government estimates of the value of munitions spending, to name one major area, were increasingly exaggerated as the war progressed. In fact, the extensive price controls, rationing, and government control of production render data on GNP, consumption, investment, and the price level less meaningful. How can we establish a consistent price index when government mandates eliminated the production of most consumer durable goods? What does the price of, say, gasoline mean when it is arbitrarily held at a low level and gasoline purchases are rationed to address the shortage created by the price controls? What does the price of new tires mean when no new tires are produced for consumers? For consumers, the recovery came with the war’s end, when they could again buy products that were unavailable during the war and unaffordable during the 1930s. …”

http://www.econlib.org/library/Enc/GreatDepression.html

Bureau of Labor Statistics

1. How the Government Measures Unemployment (PDF)
2. Why does the Government collect statistics on the unemployed?
3. Where do the statistics come from?
4. What are the basic concepts of employment and unemployment?
5. Who is counted as employed?
6. Who is counted as unemployed?
7. Who is not in the labor force?
8. What about cases of overlap?
9. Where can people find the data?
10. How are seasonal fluctuations taken into account?
11. Is there only one official definition of unemployment?
12. What other information is collected in the CPS?
13. How is unemployment measured for States and local areas?
14. Where can people get more information?
15. What do the unemployment insurance (UI) figures measure?

http://www.bls.gov/cps/cps_htgm.htm

The Great De[ression

The Great Depression was a worldwide economic downturn starting in most places in 1929 and ending at different times in the 1930s or early 1940s for different countries.^[2] It was the largest and most important economic depression in the 20th century, and is used in the 21st century as an example of how far the world’s economy can fall.^[3] The Great Depression originated in the United States; historians most often use as a starting date the stock market crash on October 29, 1929, known as Black Tuesday.

The depression had devastating effects in virtually every country, rich or poor. International trade plunged by half to two-thirds, as did personal income, tax revenue, prices and profits. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by roughly 60 percent.^[4][5][6] Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as farming, mining and logging suffered the most.^[7] However, even shortly after the Wall Street Crash of 1929, optimism persisted; John D. Rockefeller said that “These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again.”^[8]

The Great Depression ended at different times in different countries; for subsequent history see Home front during World War II.^[9] The majority of countries set up relief programs, and most underwent some sort of political upheaval, pushing them to the left or right. In some states, the desperate citizens turned toward nationalist demagogues—the most infamous being Adolf Hitler—setting the stage for World War II in 1939.

The Great Depression was triggered by a sudden, total collapse in the stock market. The stock market turned upward in early 1930, returning to early 1929 levels by April, though still almost 30 percent below the peak of September 1929.^[10] Together, government and business actually spent more in the first half of 1930 than in the corresponding period of the previous year. But consumers, many of whom had suffered severe losses in the stock market the previous year, cut back their expenditures by ten percent, and a severe drought ravaged the agricultural heartland of the USA beginning in the summer of 1930.

In early 1930, credit was ample and available at low rates, but people were reluctant to add new debt by borrowing.^{[citation needed]} By May 1930, auto sales had declined to below the levels of 1928. Prices in general began to decline, but wages held steady in 1930, then began to drop in 1931. Conditions were worse in farming areas, where commodity prices plunged, and in mining and logging areas, where unemployment was high and there were few other jobs. The decline in the US economy was the factor that pulled down most other countries at first, then internal weaknesses or strengths in each country made conditions worse or better. Frantic attempts to shore up the economies of individual nations through protectionist policies, such as the 1930 U.S. Smoot-Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade. By late in 1930, a steady decline set in which reached bottom by March 1933. …”

http://en.wikipedia.org/wiki/Great_Depression

467K jobs cut in June; jobless rate at 9.5 percent

“…WASHINGTON – Employers cut a larger-than-expected 467,000 jobs in June and the unemployment rate climbed to a 26-year high of 9.5 percent. Workers also saw weekly wages fall, suggesting Americans will have little appetite to spend and the economy’s road to recovery will be bumpy.

The Labor Department report, released Thursday, showed that even as the recession flashes signs of easing, companies likely will want to keep a lid on costs and be wary of hiring until they feel certain the economy is on solid ground.

President Barack Obama, in an interview with The Associated Press, said he is “deeply concerned” about unemployment and conceded that too many families are worried about “whether they will be next” to suffer an economic blow. He also expressed disappointment over the weak employment figures, acknowledging that “what we are still seeing is too many jobs lost.”

June’s payroll reductions were deeper than the 363,000 that economists expected and average weekly earnings dropped to the lowest level in nearly a year.

However, the rise in the unemployment rate from 9.4 percent in May wasn’t as sharp as the expected 9.6 percent. Still, many economists predict the jobless rate will hit 10 percent this year, and keep rising into next year, before falling back.

All told, 14.7 million people were unemployed in June.

If laid-off workers who have given up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been 16.5 percent in June, the highest on records dating to 1994. …”

http://news.yahoo.com/s/ap/us_economy

New unemployment numbers: Quick, blame Bush!
By Michelle Malkin

“…Waiting for “we inherited this” spin from the White House…

Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5 percent, suggesting that the economy’s road to recovery will be bumpy.
The Labor Department report, released Thursday, showed that even as the recession flashes signs of easing, companies likely will want to keep a lid on costs and be wary of hiring until they feel certain the economy is on solid ground.

June’s payroll reductions were deeper than the 363,000 that economists expected.

However, the rise in the unemployment rate from 9.4 percent in May wasn’t as sharp as the expected 9.6 percent. Still, many economists predict the jobless rate will hit 10 percent this year, and keep rising into next year, before falling back.

All told, 14.7 million people were unemployed in June.
Via AP. …”

http://michellemalkin.com/2009/07/02/new-unemployment-numbers-quick-blame-bush/

Leonard Silk Nov 1985 Air date You Tube Compression

US Unemployment Rise Pauses

In-Depth Look – Wall Street Job Picture – Bloomberg

Obama’s Far-Left Calling People to Arms—Glenn Beck’s ‘One Thing’

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