Bush Excuse For Unemployment rate 'Ridiculous' :CNN Reporter

Bush Excuse For Unemployment rate 'Ridiculous' :CNN Reporter

rawstory.com

During an economic speech today, President Bush partly blamed a dramatic rise in unemployment on new workers entering the workforce. Later, in a CNN interview, Bush Labor Secretary Elaine Chao also said that the increase the unemployment rate was "caused in part by a surge of young entrants into the job market."

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So now unemployment levels can be blamed by "too many people looking for work" according to our our Decider. LMAO!

Never mind all the businesses folding up shop due to the horrible economy and people being layed off as corps are downsizing or outsourcing left and right.

5 straight months of job losses and these guys are still spewing out nonsense, hoping to keep convincing the sheeples that everything's just in "a little slowdown"...

Unreal.

CNN senior business correspondent Ali Velshi weighed in that Bush administration excuses for the poor economy were "ridiculous." Velshi explained, "I just wish they wouldn't say that. President Bush said something earlier about how the unemployment rate today -- the increase -- was because a whole bunch of teenagers have joined the workforce, that's the point. 100,000 people join the working age working force every month. If we don't create 100,000 jobs every month, we're not doing the right thing."

rawstory.com
(visit the link for the full news article)

Those darn teenagers! They're just whippersnappers anyway.

Besides there's nothing wrong with the unemployment rate, just as there is nothing wrong with the current state of the economy. Oh, by the way, we're also not in a recession, the whole oil and gas thingy is a bunch of hooey, and the Iraq war is justified (something about WMD).

I'm just a happy little patriot waiting to be spoon-fed my government-sanctioned ration of bull manure.

Even though unemployment is up, there are still thousands of $75K, $100K and $150K jobs.

www.realmatch.com...
www.monster.com...
www.careerbuilder.com...

If one person looks for a job, they will find one, one person is not a statistic.

IDIOTS!!! bush minor and his enablers simply cannot admit that they have totally screwed up this economy so blame the teenagers. Give me a bloody break.

A star for you.

More people entering the workforce makes perfect sense. I'm guessing parents are getting tired of shelling out gas money for their teens, so they actually have to get a job.


Start Drilling Now!

Actually I listened through Bush speech and something hit me, he no only sounded as usual with his word impairment but he sounded very sarcastic.

That one really stuck with me.

A pink slip is just a G-D piece of paper!

Uh, you misunderestimated the amount of teenagers taking all the jobs. I mean what do people except? For everyone to be able to eat and afford to take care of their family.

cue *evil smirk*

reply to post by RRconservative


So people only turn working age at certain times of the year then?

A jump of 0.5% in one month cannot be put down to a mass of teenagers joining the market. Was there some sort of baby boom in 1990 that caused a huge bubble of kids to be born in May of that year?

They're desperately trying to push the disaster onto the next administration in November. Unfortunately for them OPEC is not as easily manipulated as the SEC and CFTC. Gold started showing their inflationary tactics and they manipulated it. They thought they could play Whack-o-Mole with inflation. They might as well start turning lead into gold while they're at it.

reply to post by stumason


Don't expect reason from RR and you will never be disappointed.

reply to post by HimWhoHathAnEar


The high price of oil... the increasing unemployment rate... inflation (yes it's happening though they won't admit it) the credit crunch and the housing bubble not to mention the ever growing deficit and the incredible shrinking dollar (stock up on your wheel barrels now) among so many other bad, stinking and horrible indicators means that this economy is going to blow up in the Republican's faces this fall in a big way and hopefully kill off once and for all the trickle down economics lie...

why people fell for that load in the first place is beyond me... who the hell wants an economy that trickles down... please mister plutocrat can I have some more? Give me real economic growth any day.

Originally posted by stumason
reply to post by RRconservative

 

So people only turn working age at certain times of the year then?

A jump of 0.5% in one month cannot be put down to a mass of teenagers joining the market. Was there some sort of baby boom in 1990 that caused a huge bubble of kids to be born in May of that year?

Yes it can. Because of the United States refusal to use its own resources and remain dependent on others for oil, gas prices have risen to outrageous levels. Many teens in college, or just hanging at their parents house, are being pressured to look for work just to put gas in their vehicles that their parents provided them.

It's amazing what happens when you put 2 and 2 together!

Start drilling now!

reply to post by RRconservative


You are actually right about the influx of extra people into the workforce, the Bureau of Labor Statistics backs you up on that. However, there was still a net loss of 49,000 jobs for the month and that means 8.5 million people are now unemployed and growing at a rate of around 600,000 per year.

But you're wrong about the gas prices. Other countries have not experienced anywhere near the rises in crude oil prices over the last 12 months and a simple look at the exchange rates will prove that. A barrel of oil costs 85 Euros.

reply to post by RRconservative


Well an obvious problem is that the teens entering the workforce are getting entry level jobs. It does nothing to explain the loss of jobs and down sizing for skilled workers. I don't care if junior is forced to get a job to buy gas it is only taking a job away from another teen or young adult that is relatively a monkey behind a counter anyways. BS from the Bush administration as always

reply to post by RRconservative


How are jobless figures counted in the US?

Here in the UK it is basically anyone who signs on for unemployment benefit (and other "groupings").

In order to get unemployment benefit you must be over a certain age (18 I believe) and have previously been in employment and therefore made National Insurance contributions. You don't just turn 18 then claim jobseekers in order for you to be able to fill up your car! You'd have to have had a job in the first place before you can claim, otherwise your on your own.

If the same applies in the US, then your argument is defunct. Previously unemployed teenagers or those in education, I would assume, would not be eligible for unemployment benefit, so therefore wouldn't be counted in the figures.

Obviously, my assumption is that in the US the system is similar. My understanding is that it is actually much harsher than in the UK, so I don't buy your "fuel costs have gone up" argument as to why teenagers would be responsible for a 1/2% jump in one month.

reply to post by mythatsabigprobe


Well said. Measured against Gold, the price of Oil has actually fallen in recent years. Too bad we don't have that Constitutional Gold Standard behind our money anymore. We are reaping what we've sown. Spend your Monopoly money on goods now while it's still accepted.

reply to post by stumason


I agree is completely moronic and silly to blame teens and college students for the unemployment rates.

When is well know that the unemployment figures are link to the percentage of people that falls for unemployment.

So teens and college students do not count, but I can tell you this much, is going to be a hike on crime by youngsters out there that have nothing else to do with their time and no money to spend on trivialities.

Right now adults head of families are competing for the summer jobs as the result of loss of permanent Jobs.

Unemployment numbers are always skewed. They only reflect those persons who had a job and now have applied for unemployment. They do not take into account the homeless, self employed who lose their businesses or those who have never held a job. Unemployment numbers from the government are meaningless.

reply to post by groingrinder


you forgot one of the most telling omissions... those who have given up looking.