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WASHINGTON -- Employers eliminated more jobs than expected last month as the unemployment rate climbed to 9.8%, another sign that a rapid recovery in the labor market is unlikely.
Give it time folks give it time. We WILL come out of the recession, and although the housing market will not be in a new bubble it, like the tech bubble, will come back as a normal viable industry.
September’s losses bring total jobs lost since the recession began in December 2007 to 7.2 million, the biggest decline since the Great Depression.
Originally posted by HunkaHunka
reply to post by SpookHunter
Thats not true at all... you assume that there is a finite number of jobs in the world. A new technology can change this and create a huge demand for jobs.
It is not a closed system....
But the Household Data is VASTLY worse than reported. Here are the month-over-month changes, and they're in the realm of frightening. (all numbers in thousands)
Employed: 140,074 down to 139,079 this month.
The fact of the matter is that nearly 1 million fewer people were working in September as compared to August; there has been absolutely no improvement in that trend whatsoever.