539,000 Jobs Lost in April— This Is GOOD News????

[Earth Bound Misfit]

http://blog.aflcio.org/2009/05/08/539000-jobs-lost-in-aprildont-let-them-tell-you-this-is-good-news/

by Tula Connell, May 8, 2009

Have you heard the one about the recession being over?

New data out today show 539,000 workers lost their jobs in April and the nation’s unemployment rate worsened to 8.9 percent, from 8.5 percent in March, according to the Labor Department. Jobs lost in April were spread across nearly all major private-sector industries. Jobs lost include 149,000 in manufacturing; 110,000 in the construction industry; 122,000 in professional and business services; and 47,000 in the services industry.

Even more worrisome, the number of long-term unemployed (those jobless for 27 weeks or more) increased by 498,000 to 3.7 million over the month and has risen by 2.4 million since the start of the recession in December 2007.

The official unemployment rate is bad. But the real unemployment rate is far worse. If those who are underemployed or who want a job but have given up looking are counted, the U.S. unemployment rate stands at 15.8 percent—more than 25 million Americans.

So it looks like the pundits who claim this Bush-instigated recession and the jobless bleed it created is over haven’t talked with the millions of unemployed U.S. workers.


Jobless workers like Laura in California, who was laid off in November 2007 after 30 years in the newspaper industry and has not been able to find employment since. Laura, 55, invested all her life savings in her house, which is now valued at half of what she paid for it. Affording health care is out of the question—no matter how sick she is.

We may be dying, but are truly afraid of seeking ridiculously expensive health care. Health care must become more affordable in order to save our health and our lives.

snip

Just to keep up with the population growth, EPI says the nation must add approximately 127,000 jobs every month—and the economy now is more than 7 million jobs below what is needed to maintain pre-recession employment levels. There are four jobless workers for every job opening.

In March 2009, 45.6 percent of all workers collecting state unemployment insurance reached the end of their maximum 26 weeks of benefits without finding work. That is the highest exhaustion rate on record, dating back to 1972 when the data were first reported, according to the National Employment Law Project (NELP).


snip

The importance of employment to the everyday life and long-term health of the nation is too often given short shrift.

Because if the economy works for Wall Street, it must work for everyone.

Right?

More at link

[Name removed]

1. Deleted message

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[Earth Bound Misfit]

4. Delivery in 5...4...3...

[CoffeeCat]

2. The media are clearly...

...under a lot of pressure to sing "Happy Days Are Here Again!'.

Usually they twist statistics and lie. Which is bad enough.

Now, they're taking a one-month decrease in unemployment numbers-as a sign that the recession is over.

We still lost more than half a million jobs last month.

I want a recovery. I don't get excited when I hear bad news. However, I feel like the media is deliberately
hiding the truth about how bad things are. They're twisting statistics and using one statistic to declare
the entire economy healed.

I feel like they're trying to goad people into spending some of those dollars they've been saving since the
economy soured. I think they're trying to manipulate people into using those credit cards again and putting
their money into the stock market too.

There's nothing wrong with doing those things---if it's the appropriate time and if it's good for the consumer.

However, it feels like it's all a big ploy to convince us that we must be lured into doing those things. Bottom
line...we don't know if things are going to improve or not and frankly, I'm tired of the media behaving as the PR
arm for corporate America!

[sharp_stick]

3. It's good news in that

it's less than the 650000, or so, that was expected. About 100000 more people still have jobs that were expected to have vanished.

Do people really think this shit will turn around on a dime? This week 600000 jobs lost, next week 125000 new jobs? This is a long term thing and not knowing that is somewhat foolish IMO.

[marketcrazy1]

5. the reality is harsh

here is a very scary chart ( I dont know how to post the image ) http://www.tickerforum.org/cgi-ticker/akcs-www?getimagenr=28840

[Earth Bound Misfit]

7. That is SCARY...

But some would say it's "foolish" to point out that M$M's singing a happy tune and this will all "go away" in time...the REALITY is lost on most of the public. Oh well, let's give the banks a couple trill more, then we can all sing kumbaya.

[marketcrazy1]

8. that chart

is from January 09, just imagine what it would look like now! another 1.5+ million jobs were lost since that chart was made...............

[DJ13]

6. When administrations think the stock markets are the "real" economy

The numbers and the MSM usually find a way to try an reinforce that belief.