Unemployment Rate Among 2012 College Grads Hits 16.8%… Hope and change! Via Yahoo! News: The Class of 2012 may have few reasons to celebrate this year. Along with the long-term unemployed, experts say their prospects are the bleakest among all job-seekers. The U.S. economy added a lower-than-expected 80,000 jobs last month, according to data Friday from the Labor Department. Though the overall unemployment rate remained unchanged at 8.2%, experts say this year’s 1.8 million college graduates have a rough job search ahead. “Over the last five years, the jobs situation has gotten increasingly intense for each successive graduating class,” says Paul T. Conway, president of Generation Opportunity, a non-profit think-tank based in Arlington, Va. “Their concern is now palpable.” The last half-decade has not been good to graduates. Only a half of those who graduated since 2006 are now employed full time, according to a recent Rutgers University survey. More college graduates are settling for jobs that in years past would have gone to those without degrees, while people in their 30s are now occupying jobs once taken by recent graduates, says Carl Van Horn, professor of public policy and director of Rutgers’ John J. Heldrich Center for Workforce Development. But if all the young people who’ve already given up looking for jobs are included — the 1.7 million people aged 18-29 who’ve been out of work for more than a year — the latest 8.2% unemployment figure would be closer to 16.8% for that age group, Conway says. That’s the highest unemployment rate for that age group since World War II. “Their story is one of few opportunities, delayed dreams, and stalled careers,” he says.
...all Obama's fault obviously since he has been President like what....8-9 years now?? You guys crack me up...... :lol: :lol: :lol:
Must Watch: Romney Surrogate John Sununu Steamrolls MSNBC’s Andrea Mitchell… <object width="420" height="245" id="msnbc9223d3" classid="clsid27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=10,0,0,0"><param name="movie" value="http://www.msnbc.msn.com/id/32545640"><param name="FlashVars" value="launch=48137965^30^400230&width=420&height=245"><param name="allowScriptAccess" value="always"><param name="allowFullScreen" value="true"><param name="wmode" value="transparent"><embed name="msnbc9223d3" src="http://www.msnbc.msn.com/id/32545640" width="420" height="245" FlashVars="launch=48137965^30^400230&width=420&height=245" allowscriptaccess="always" allowFullScreen="true" wmode="transparent" type="application/x-shockwave-flash" pluginspage="http://www.adobe.com/shockwave/download/download.cgi?P1_Prod_Version=ShockwaveFlash"></embed></object> Mitchell is a mental midget. Andrea Mitchell: Isn’t it a winning issue for the White House, fundamentally, granted that the PolitiFact folks and the Washington Post pointing out that the President’s campaign ad on that issue had a lot of questions and a lot of questionable attacks? John Sununu: But they said it was wrong. A lot of questionable tactics is not right, it was wrong. Mitchell: But the point is, that isn’t Mitt Romney more vulnerable than the President on this issue because there still is — the whole question of private equity of outsourcing. Yo could argue about when he left Bain Capital and whether he was still getting money from Bain Capital and what some of the companies in Bain were doing, companies that did end up working overseas and sending jobs overseas. But isn’t it a bigger problem for Republicans than for the White House? Sununu: No. When you’ve sent $500 million to Fisker and it goes to Finland immediately. When you send the solar money and it goes to Mexico. When you send the turbine money and it goes to Denmark. And we can go on all day. There is $29 billion worth of purchases that came out of this administration, outsourced jobs to foreign countries. Mitt Romney outsourced zero — Mitchell: Zero? Sununu: Zero. He wasn’t there when those issues came up. Mitchell: Well, first of all the $29 billion are not all outsourced from the administration because — Sununu: Sure they are. Mitchell: A lot of those jobs still remained here. There are jobs — when you do a grant, governor, there are jobs here as well as overseas. Sununu: [laughing] You’re struggling, Andrea. You’re struggling. Mitchell: First of all, these are competing claims and we will get back to you with all of the numbers.
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Disclosure Statements Show Pelosi Made Between $1 And $5 Million On Her Asian Investments During 2011… Just a tad hypocritical when you consider Pelosi’s been leading the charge with the attacks on Romney for “outsourcing” jobs (even though it’s been widely debunked) and for having a bank account in Switzerland. Via Daily Caller’s Matt Lewis: On the heels of The Weekly Standard’s report yesterday that DNC chair Debbie Wasserman Schultz — a vocal critic of Mitt Romney‘s investing practices, had herself dabbled in the foreign markets — we can add Nancy Pelosi to the list of prominent Democrats to profit from overseas investments. According to Pelosi’s 2011 financial disclosure statement, the Democratic House Minority Leader received between $1 million and $5 million in partnership income from ”Matthews International Capital Management LLC,” a group that emphasizes that it has a “A Singular Focus on Investing in Asia.” A quick trip to the company website reveals a featured post extolling the virtues of outsourcing. “Designed in California, Made in Manila” sounds like an excellent title for a smear ad to be run the by the Barack Obama campaign. Instead, it appears to be Nancy Pelosi’s investment strategy.
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CNN Report: Obama’s Plan To Raise Taxes Will Cut GDP Growth By 30% – 50%… <iframe width="640" height="360" src="http://www.youtube.com/embed/IXU0cVJB-sA?feature=player_embedded" frameborder="0"></iframe>
Jobless claims resume upward climb <object width="420" height="245" id="msnbc2bf9f3" classid="clsid27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=10,0,0,0"><param name="movie" value="http://www.msnbc.msn.com/id/32545640"><param name="FlashVars" value="launch=48240795&width=420&height=245"><param name="allowScriptAccess" value="always"><param name="allowFullScreen" value="true"><param name="wmode" value="transparent"><embed name="msnbc2bf9f3" src="http://www.msnbc.msn.com/id/32545640" width="420" height="245" FlashVars="launch=48240795&width=420&height=245" allowscriptaccess="always" allowFullScreen="true" wmode="transparent" type="application/x-shockwave-flash" pluginspage="http://www.adobe.com/shockwave/download/download.cgi?P1_Prod_Version=ShockwaveFlash"></embed></object><p>Visit NBCNews.com for <a>breaking news</a>, <a>world news</a>, and <a>news about the economy</a></p>
Jobless claims up. I am not sure how you can accurately measure under employment, but it's through the roof in this state.. And cuts to unemployment aren't exactly going to help things... This is just awful.
Corey, the President has said that elections have consequences.....at least he was right about something. There will no change in our outlook until these guys are gone and their policy disasters mitigated, the uncertainty clarified and being successful is no longer a reason to be scorned and penalized. Only then will necessary investment returned.......this is singularly the worst economic team ever assembled in our history.
Obamanomics: Unemployment Rate Rises In 27 States… WASHINGTON (AP) – Unemployment rates rose in 27 states last month, the most in almost a year. The Labor Department said Friday that unemployment rates fell in 11 states and Washington, D.C. — the fewest declines since August. Rates were unchanged in 12 states. Nationwide, employers added only 80,000 jobs last month, third straight month of weak job growth. The national unemployment rate stayed at 8.2%. Still, 29 states added jobs in June, up from 27 in May. Unemployment rates can rise when jobs are created because more people who are out of work start looking for jobs. That increases the size of the labor force. The number of Americans searching for jobs nationwide increased last month. Nevada recorded the highest unemployment rate, at 11.6%, same as the previous month. It was followed by Rhode Island at 10.9% and California at 10.7% North Dakota had the lowest unemployment rate at 2.9%, followed by Nebraska at 3.8%.
Obamanomics: Census Shows Poverty Numbers Skyrocketing To Highest Level Since 1965… Hope and change. Via Politico: The ranks of America’s poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net. Census figures for 2011 will be released this fall in the weeks ahead of the November elections. The Associated Press surveyed more than a dozen economists, think tanks and academics, both nonpartisan and those with known liberal or conservative leanings, and found a broad consensus: The official poverty rate will rise from 15.1 percent in 2010, climbing as high as 15.7 percent. Several predicted a more modest gain, but even a 0.1 percentage point increase would put poverty at the highest since 1965. Poverty is spreading at record levels across many groups, from underemployed workers and suburban families to the poorest poor. More discouraged workers are giving up on the job market, leaving them vulnerable as unemployment aid begins to run out. Suburbs are seeing increases in poverty, including in such political battlegrounds as Colorado, Florida and Nevada, where voters are coping with a new norm of living hand to mouth.