Friday, September 2, 2011
Unemployment and Obama's Speech...
The economy produced ZERO net jobs last month.
In order to decrease the unemployment rate at all the economy needs to produce a positive 250,000 jobs per month.
The percentage of working-age adults who were employed, already at its lowest rate since 1983, ticked down to 58.5 percent from 58.6 percent.
Black unemployment is at 16.7%.
Blacks are 30% more likely to hold a government/public job than those of any other race.
Black youths have an unemployment rate of 46.5%
White unemployment is at 8%
Latino unemployment is at 11.3%
State, Federal and Local governments will continue to slash budgets as the economy struggles, further reducing government/public jobs.
Obama's speech next Thursday is already DOA. He will propose more massive new spending on building roads, investing in green energy, improving schools, etc. Sound familiar?? It should. It's the same useless plan he's been trying on for three years now. This time he won't be able to get a $1,000,000,000,000 stimulus through so he will propose something more modest...like a $250,000,000,000 stimulus calling it a kickstart for an economy that isn't in reverse but has just stalled.
Book it. Right it down and watch. Then watch it fail.