Obamanomics: Ventura County California Unemployment Rate Rises to 10.8%

Posted Posted in Unemployment Rate

The economy is not good in Ventura County, California.

Ventura County’s unemployment rate rose to 10.8 percent in November from a revised 10.5 percent in October, state officials said today.

California’s unemployment rate remains unchanged at 12.4 percent while the nation’s unemployment rate has edged up to 9.8 percent after three months rooted at 9.6 percent.

Gov. Arnold Schwarzenegger put out a statement this morning urging Gov.-elect Jerry Brown and the Legislature to focus on California’s employers.

At least the President has just signed a continuation of the Bush-Era Tax Cuts and Rates. But, more has to be done to cut spending, regulation and taxes.

Post-recession Unemployment ‘Scariest Ever’ Job Chart Show its Worst Than WW2

Posted Posted in Unemployment Rate

As US unemployment jumped to 9.8 per cent, it is a chart to chill the bones of any job hunter.

Comparing previous recoveries from all 10 American recessions since 1948 to the current financial crisis, the figures show almost no improvement in employment figures in the past year.

Some commentators have described the comparison as ‘the scariest jobs chart ever’, pointing to the fact that only the 2001 recession took longer to bring employment back to pre-crisis levels.

 
Number of months after peak employment

Number of months after peak employment

Even then, the total percentage of jobs lost bottomed out at two per cent, compared with six per cent this time round.

 Unemployment is a MAJOR problem because President Obama and the Democratic dominated congress ignored the economy and busniess growth the last two years and instead pushed their far-left ideologies, including Cap and Tax and ObamaCare.

The Democrats paid the price last month and Obama may very well be voted out of office because of his gross negligence of matters financial.

Posted from Diigo. The rest of my favorite links are here.

Unemployment Rises to 9.8 Per Cent – Highest Rate since April 2010

Posted Posted in American Economy, economics, Unemployment Rate

Matt Drudge is not giving President Obama kind treatment this morning showing his damaged basketball lip with the news that the economy under his Administration continues to struggle.
The U.S. economy added fewer jobs than expected in November and the unemployment rate rose to its highest level since April, underlining the continued weakness in the labor market 17 months into the recovery.

Nonfarm payrolls rose by 39,000 last month as private-sector employers added only 50,000 jobs, the Labor Department said Friday. The October number was revised up slightly to show a 172,000 increase from a previous estimate of 151,000.

The unemployment rate, which is obtained from a separate household survey, unexpectedly rose to 9.8% last month. More than 15 million people who would like to work can’t get a job.

I would suggest that the Senate Republicans and Obama Administration should speedily agree to a compromise Bush era tax rate/cut bill and give stability to the financial markets.  They can extend them for one year if they wish and revisit the issue.

But, do SOMETHING for small business, so they can put Americans back to work.