Poll: Unemployment to hit 10.5%

Amen TOMIMD!!  Others have given up on trying to get unemployment.  Say, how about they hire some people to process the claims, even if it's only temporary?  Have you been to the DMV lately...I can't wait until we have government healthcare!  Socialism at it's finest!

I guess everyone had a part in the U.S FAILED ECONOMY! Taking out loans that they couldn't afford. The idiots at Fannie Mae  and Freddie Mac allowing this to happen. Trying to fix ALL THE PROBLEMS IN THE WORLD. Letting our manufacturing jobs go overseas. Oh I forgot the most important person that had a major hand in this ,and that was the so called financial CZAR ALAN GREENSPAN what a genius!

First off, we already are over 10.5% U3 unemployment.  The BLS last month came out and admitted that the "Birth-Death" model used to determine when a wage-earner converts over into an entrepreneur was optimistic for the year ended 3/31/09 to the tune of approximately 800,000 jobs.  This model previously had added approximately 700,000 jobs for that time period.  Therefore, all jobs added by the "Birth-Death" adjustment during the year ended 3/31/09 were created by the BLS out of thin air and will be revised next year back to from where they came.

 

http://www.bls.gov/web/cesbd.htm

 

This adjustment will be made when the March 2010 numbers are released.  800,000 jobs equates to approximately .5% U3 unemployment.  10.2% plus .5% equals 10.7%.  What a bold call these great, salaried and pensioned economists are making...

 

There is no telling how far off the "Birth-Death" model has been since 3/09, but if you follow the above link, you will see that this model has added approximately 900,000 jobs into the marketplace since 3/31/09.  Those of us living in the real world know that the small businesses we are forced to start upon being laid off are paying nowhere near what we made as a salaried employee, if they pay at all. 

 

It is safe to predict that these jobs added by the "Birth-Death" model will become vapor when the next round of revisions are made in 2011, but by then whatever politicians in power will be blaming this phenomenon on "lagging indicators", "Jobless recoveries" and Bush/Obama (pick one). 

 

"moron high-tech jobs been going over seas as well"

 

Tell me which high tech jobs have gone overseas.  Dell computer support?

 

As best as I can tell, most of the stimulus spending went to save mostly governmental and union jobs (teachers, fire fighters, police, etc.).  This might have been a good thing, but it doesn't create jobs.  The stimulus money should have gone to updating our highways, building bridges, building water and sewer plants, etc.  The U.S. has always been a country of doers.  We come up with ideas and we build stuff.  This creates jobs.  Appeasing the labor unions by saving a few of their jobs doesn't help much.