Posted March 6, 2009 12:30 PM
by Frank James
Bureau of Labor Statistics Commissioner Keith Hall testified before Congress' Joint Economic Committee about the February job loss numbers today and he tried to give lawmakers a sense of how bad the current employment situation is.
The bureau has been keeping records on job losses since 1940, a record bureau its economists refer to as a "series."
Hall said:
"And just to put it into perspective, we've only had maybe 10 months where we've lost 500,000 jobs or more in the history of our series since 1940. This is four of the 10, all in a row.
The bureau reported earlier today that in February the economy lost 651,000 jobs with the unemployment rate rising to 8.1 percent.
Comments
Barack Obama: America's first pro-slavery president since Jefferson Davis.
Under the Obama economic plan, every single one of us will be either a tax slave (from each according to his ability) or a welfare slave (to each according to his need).
But Mister Barack will be such a NICE massah. He CARES. He's so compassionate. As long as we's all good slaves he'll take good care of us. We love Big Brother.
Posted by: Vast Right Wing Conspirator | March 6, 2009 1:39 PM
I love listening to the nutty Repuglican minions on here who are still living in a deluded world in which conservatism cannot fail, it can only be failed.
Bush wasn't responsible for the unnecessary wars or the six trillion dollars in debt he added or the deregulatory nightmares, because he was following conservative principles. Clinton's small tax hike on the rich didn't lead to those surpluses, because conservatism tells the Repuglican drones that can't happen.
Pres Obama wouldn't have to spend to stimulate the economy if the last eight years of a Repuglican Pres and 10 of the last 12 years of Repuglican congressional rule hadn't tanked the economy in the first place.
Posted by: vast right conspirator | March 6, 2009 3:18 PM
"Why, this president has job loss on par with Herbert Hoover. Look at his unemployment rate compared to the previous administration".
Posted by: Every democrat 8 years ago | March 6, 2009 5:52 PM
I know how we can stem job loss: permit unions to collect dues and political contributions from workers' pay without any secret ballot elections and empower third parties to tell employers how much they will pay the workers. It's called the Employee-free Choice Act and it is about to be stuffed down your throat to pay back the unions for their campaign support.
Posted by: American Job Loss Act | March 6, 2009 7:39 PM