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Unemployment rate reaches 9.8 pct. as hiring slows

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posted on Dec, 3 2010 @ 12:34 PM
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Unemployment rate reaches 9.8 pct. as hiring slows


news.yahoo.com

WASHINGTON – In a surprising setback, the nation's unemployment rate climbed to 9.8 percent in November, a seven-month high, as hiring slowed across the economy.

With hiring so weak, the unemployment rate rose from 9.6 percent to 9.8 percent. The jobless rate has now topped 9 percent for 19 straight months, the longest stretch on record. The rate could hit 10 percent next year.
(visit the link for the full news article)




posted on Dec, 3 2010 @ 12:34 PM
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They say we are in a recovery, but unemployment is still going up, with the possibility of hitting 10% next year.

Why arent companies hiring anymore? They have made the highest amount of profit in 3rd quater in the past 60 years.Link Maybe they figured out that can work just as efficiently, but with less workers, saving money?


U.S. businesses earned profits at an annual rate of $1.659 trillion in the third quarter, according to a Commerce Department report released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or noninflation-adjusted terms.


news.yahoo.com
(visit the link for the full news article)
edit on 3-12-2010 by buni11687 because: (no reason given)



posted on Dec, 3 2010 @ 12:40 PM
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Wow, and this morning on the news they were so hopeful about this. I wonder if this information will kick congress into gear and get something done.



posted on Dec, 3 2010 @ 12:54 PM
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all the corporations are hoarding cash, and NOT spending, i heard on the news today. this is an all out war against the people and government of the US, to loosen regulations and lower corporate taxes. they are holding back to force the US government to comply. corporations have set historic all-time record profits in this year, and they still say they are "unsure" about the future...baloney...they are holding obama and congress hostage.

all the bickering about wikileaks,don't ask, don't tell, taxes, is a ruse to keep the people occupied, and seperated. the REAL terrorists are the wealthy and corporate, and we the people can't do anythiing about it.
they are playing us for fools, driving us into third world status, and nobody is doing anything to change that notion.



posted on Dec, 3 2010 @ 12:58 PM
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reply to post by jimmyx
 


Agreed. What incentive do the big corporations have to hire more people, even though they are getting as much work done and increasing profits, with less people?

I doubt big buisness is going to go back to hiring more people. Why would they? If you posted record profits, while laying people off at the same time, why would you hire anyone else if your going to not make as much profit?



posted on Dec, 3 2010 @ 01:00 PM
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The way I heard it explained, there are a lot of people not looking for work right now which aren't accounted for in the method for calculating that unemployment number. Once a recovery or word of a recovery begins more people will begin looking for work again causing the unemployment numbers to rise.



posted on Dec, 3 2010 @ 09:04 PM
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The recovery is just fine for the mega corporations who are raking in billions as they screw the American workers. That's what they are talking about when they say recovery. More money for the ultra-wealthy.



posted on Dec, 4 2010 @ 03:54 AM
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This is the way I see it.

The unemployment issue goes way deeper than just people not looking for work. Corporations, who essentially compete for cash and eliminate their competition on their path, have several options in reducing operational cost. They can either outsource whole departments to low labor cost countries however, too much outsourcing could become a localized social and political concern so let's examine option number two. Massive lay-offs.

The labor that was previously done by two or more workers is now zipped to fit one individual under the famous moto "keeping productivity high" which also fits their agenda to keep workers stressed out and in fear of loosing their jobs.

Given the current economical 'crisis', be it real or hyped, corporations can justify their lay-offs by their 'poor revenues' eventhough they're continuously on the rise. Now, once the corporation lays off x thousand amount of people, these people fall into the unemployment scheme. All depending on the individual's situation, he/she either searches for another job right away and is lucky enough to find one, problem solved. That same person could however be looking for work for a considerable amount of time and not find anything, problem growing.

With the recent unemployment benefit cuts in several countries (in order to free up some cash to repay national debt or pouring it into other non-sense investments such as acquiring military equipment), millions of people are pushed into poverty. A lot of these people could well have never experienced poverty and not really know how to deal with it so I'd expect suicide rates to go up in that group. Take into consideration as well the fact that winter will most probably be very harsh (already the case in many parts of Europe and Canada) and you're just waiting for the newly poor to freeze to death.

Doesn't this all sound like an NWO scheme to reduce population through killing the economy, pressuring corporations to lay off massively, cut unemployment benefits at one of the worst times (winter) and wait for the 'flies' to drop one after the other. Add to that mix the, most probably, upcoming 'new' H1N1 or other type flue vaccination and these newly-poor will line-up massively to get their free shot out of fear of becoming ill and not being able to afford healthcare. They will eventually die from all the crap concentrated in those vaccines and TPTB reached their target...



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