09 January 2010

More Job Losses For 2010

President Barack Obama promised that if the stimulus package was passed unemployment would not reach 8%, so imagine the shock over at the Associated Press when the eventually noticed that, not only has the 8% barrier been shattered in 2009, the projections for 2010 are worse yet. Why, they may have to investigate. It's almost as if all of those people who said that the Stimulus Package wouldn't work were right.

WASHINGTON – Brace for a year of stubbornly high unemployment.

Gripped by uncertainty over the economic recovery, employers chopped 85,000 jobs last month, and difficulty finding work helped chase more than half a million people out of the job market.

The unemployment rate held steady at 10 percent. It did not creep higher only because so many people stopped looking for work and are technically not counted as unemployed.But the jobless rate is likely to rise in coming months as more people see signs of an improving economy and start looking for work again. Some economists think it could near 11 percent, which would be the highest since World War II, by June.

The highest unemployment since WWII? No wonder Obama's handlers have decided that he should start sounding like Harry Truman.


  1. Z said...

    that was our big mistake..some people BELIEVED "Obama promised..."


  2. NEO, SOC said...

    More jobs were created! Have you not seen all the new government initiatives created by this administration? Jobs were created, but not in the way we were told. He was so ambiguous that his broad terms of bringing new jobs was fulfilled! Brilliant!