No Depression

Today is a milestone.

Today is 2 years since my job was eliminated.

Prospects are not good. I can't even get an interview to stock shelves at the local Lowe's or Target.

I'll be 50 in November. That doesn't help. Especially when 4 out of 5 college graduates can't find a job in their field of study.



I've been out of work for 2 years. "Unemployed need not apply."

Yet for 3-1/2 years, through my wife's unemployment and then my own, I've been able to keep the bills paid. It has cost me nearly every sent I have in savings and early retirement withdrawals. That's about to end.



The August numbers are out today. On my two year anniversary.

Unemployment is holding steady at 9.1%.

They say that like it's a good thing.

Truth is, unemployment is holding steady because the 99ers are starting to expire at a faster and faster pace now. People who have expired their benefits and are no longer counted as unemployed although they have not found a job.



Now they're just counted as bums I suppose.

To hear the idiots and morons on the TeeVee we have a chance to turn this all around in 2012.

For myself and millions like me, that is too late. By then we will be finished.

The President has a BIG JOBS SPEECH next week.

To the media the big deal with it is how will it affect the Packers game?



Meanwhile, The August numbers show NO JOBS were created in August.

None.

That hasn't happened since 1945.

And President Barack Obama, back home from his 10 day Martha's Vineyard Vacation, refreshed and ready to work, is heading to Camp David for the next couple days.

While Congress, who fled town right after passing that debt debacle in early August, has yet to be heard from.

None of them seem to care about the un(der)employed, except as how it will affect their chances in 2012.

Kids are living in their cars and under blue tarps in the woods. They tape screening to the windows to keep the mosquitos out but let air in during the warm summer nights. They're dropped off at school in the same vehicle they sleep in and do their homework in afterwards. Spaghettios are a luxury meal to them. A can split among 3 or 4.

This is not the America my father left me. Nor yours.

But hang in their, kids. 2012 is coming.

It's just 72 weeks until a new administration.

You can hang on that long, can't you?

Employers add no net jobs in Aug.; rate unchanged
Employers added no net jobs in August, while unemployment rate was unchanged at 9.1 pct.

WASHINGTON (AP) -- Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.

The government also reported that the unemployment rate remained at 9.1 percent. It was the weakest jobs report since September 2010.

Stocks tumbled on the news. The Dow Jones industrial average sank more than 190 points in early-morning trading.

Total payrolls were unchanged in August, the first time since 1945 that the government has reported a net job change of zero. Economists warned that the economy can't keep growing indefinitely if hiring remains stalled.

"Underlying job growth needs to improve immediately in order to avoid a recession," said HSBC economist Ryan Wang.

Fears that the United States will slip back into recession have been rising since the government reported over the summer that the economy barely grew in the first half of the year. Consumer and business confidence has been sapped by the political standoff over the federal debt limit, a downgrade in the U.S. government's credit rating and a debt crisis in Europe.

Job growth had already been sputtering before it stalled completely last month. The economy produced an average 166,000 a month in the first quarter, 105,000 a month in the second quarter and just 28,000 a month so far in the third quarter, said John Silvia, chief economist at Wells Fargo.

The dispiriting job numbers for August will put more pressure on the Federal Reserve, President Barack Obama and Congress to find ways to stimulate the economy. So far, Fed Chairman Ben Bernanke has been reluctant to try a third round of bond purchases designed to jolt the economy by further lowering long-term interest rates.

Obama next week will deliver a rare address to a joint session of Congress to introduce a plan for creating jobs and boosting economic growth. But House Republicans have resisted any federal stimulus spending.

The weakness in employment was underscored by revisions to the jobs data for June and July. Collectively, those figures were lowered to show 58,000 fewer jobs added. The downward revisions were all in government jobs.

The average work week also declined, and hourly earnings fell by 3 cents to $23.09.

"There is no silver lining in this one," said Steve Blitz, senior economist at ITG Investment Research. "It is difficult to walk away from these numbers without the conclusion that the economy is simply grinding to a halt."

With job creation stalled and wages declining, consumers won't see much gain in incomes. That will limit their ability to spend, which undercuts growth. Consumer spending accounts for about 70 percent of the economy.

"The importance of job growth cannot be overstated," said Joshua Shapiro, chief U.S. economist at MFR Inc.

The economy needs to add roughly 250,000 jobs a month to rapidly bring down the unemployment rate, which has been above 9 percent in all but two months since May 2009.

In August, the private sector added 17,000 jobs, the fewest since February 2010. That compares with 156,000 in July and 75,000 in June.

"The stagnation in US payroll employment is an ominous sign," said Paul Ashworth, an economist at Capital Economics. "The broad message is that even if the US economy doesn't start to contract again, any expansion is going to be very, very modest and fall well short of what would be needed to drive the still elevated unemployment rate lower."

Hiring fell across many different sectors. Manufacturers cut 3,000 jobs, its first decline since October 2010. Construction companies, retailers, and transportation firms also cut workers.

The health care industry added 30,000 jobs last month.

The economy expanded at an annual pace of only 0.7 percent in the first six months of the year. That was the slowest six months of growth since the recession officially ended in June 2009.

In August, consumer confidence fell to its lowest level since April 2009, according to the Conference Board.

Most economists forecast that growth may improve to about a 2 percent annual rate in the July-September quarter. But that's not fast enough to generate many jobs.

The Obama administration has estimated that unemployment will average about 9 percent next year, when Obama will run for re-election. The rate was 7.8 percent when Obama took office.

The White House Office of Management and Budget projects overall growth of only 1.7 percent this year.

"The economy continues to stagger," said Sung Won Sohn, economist at California State University Channel Islands. "It wouldn't take much (of a) shock to tip it onto a recession."

Train Wreckovery

While Nero danced barefoot in the Rose Garden of The People's House and the Senate skeedaddled for home because they have been working so hard and miss their Pomegranate trees and Cowboy Poetry Rome continued to burn.

They are trying to turn 117,000 created jobs and 9.1 % unemployment as a "small silver lining".

Bullshit.

The number reflects what I've been saying for months.

The "99ers" have begun reaching the end of their benefits in greater numbers. And when that happens they are no longer counted as unemployed.

The media and talking heads are trying to say it's because they have given up looking for work and are non longer counted, which is a a blatant lie, seemingly used to misdirect blame and attention. Far easier to say "these people don't want to work" than "the government is not doing enough to create an atmosphere for job growth."

The truth is they are still trying to find work. Like me, still unable to get reemployed, still trying, but no longer collecting unemployment benefits. I no longer count as unemployed.

And we're competing with college graduates who can't find work either.

Workforce participation is shrinking and is at it's lowest level since 1983.

I hope the Congresscritters come back with great stories about How We Spent Our Month Long Summer Vacation. I'll be spending mine watching Clueless Leader pivot toward jobs without trampling the flowers while dribbling the ball and trying not to drop his cake.

The cake so many others don't get to eat.

Humbug

How in the hell can they call creating 93,000 jobs in the private sector in November good news? We need to create 150,000 just to hold unemployment at the current 9.6% By creating little more than half that means we are continuing to erode. Right?

Meanwhile, when what needs to be addressed are the tax cuts, job creation and getting a budget in place for the fiscal year we are already 2 months into instead the Senate and House are dicking around with an unnecessary food safety bill which would give the FDA even more authority. And they even fucked that up (which is a good thing).

Some idiot of Fox yesterday was talking about the recovery being underway. That it's underway not because things are improving but because the downward spiral has now hit bottom. And then he said for every job available there are 5 people available for it. But what are those jobs? Checkout clerks? Grocery baggers? Burger flippers? French Fryers? When you'd been making 60 or 80 or 100K?

That's a recovery?

Never worry never fear our Vacationer In Chief is here.

This is the second Christmas season I'm out of work. The third that either my wife or I are out of work. No Christmas lights or decorations beyond a tree. Our annual Christmas Eve family get together for the entire family (30 people) is now being funded in part by my mom and a few others. Gifts for no one except our daughters. And those much smaller than ever. The nieces nephews godchildren will have to suffice with a candy cane.

And we're in far better shape than many many others around this country. Until January, anyway, when my benefits expire.

But it's hard for me to believe that when my twelve year old looks ate me with a little bit of worry and panic (she's none too good at hiding it) and asks if we are going to lose the house, (the only one she has ever known). Is the bank going to foreclose on it? (She's heard some of the blowouts I've had with Citibank).

So you'll understand when I say my TeeVee and computer are in danger these days.

Because if I see or hear one more fucking well-heeled talking head or political pissant nitwit patronize about how Americans are hurting Americans are in pain and all we're doing is talking about it (when they're doing just that) I'm going to put a brick or a bullet through the screen.

Newsmax:

2 Million Lose Jobless Benefits as Holidays Arrive
Wednesday, 01 Dec 2010

Extended unemployment benefits for nearly 2 million Americans begin to run out Wednesday, cutting off a steady stream of income and guaranteeing a dismal holiday season for people already struggling with bills they cannot pay.

Unless Congress changes its mind, benefits that had been extended up to 99 weeks will end this month.

That means Christmas is out of the question for Wayne Pittman, 46, of Lawrenceville, Ga., and his wife and 9-year-old son. The carpenter was working up to 80 hours a week at the beginning of the decade, but saw that gradually drop to 15 hours before it dried up completely. His last $297 check will go to necessities, not presents.

"I have a little boy, and that's kind of hard to explain to him," Pittman said.

The average weekly unemployment benefit in the U.S. is $302.90, though it varies widely depending on how states calculate the payment. Because of supplemental state programs and other factors, it's hard to know for sure who will lose their benefits at any given time. But the Labor Department estimates that, without a Congress-approved extension, about 2 million people will be cut off by Christmas.

Congressional opponents of extending the benefits beyond this month say fiscal responsibility should come first. Republicans in the House and Senate, along with a handful of conservative Democrats, say they're open to extending benefits, but not if it means adding to the $13.8 trillion national debt.

Even if Congress does lengthen benefits, cash assistance is at best a stopgap measure, said Carol Hardison, executive director of Crisis Assistance Ministry in Charlotte, N.C., which has seen 20,000 new clients since the Great Recession started in December 2007.

"We're going to have to have a new conversation with the people who are still suffering, about the potentially drastic changes they're going to have to make to stay out of the homeless shelter," she said.

Forget Christmas presents. What the so-called "99ers" want most of all is what remains elusive in the worst economy in generations: a job.

"I am not searching for a job, I am begging for one," said Felicia Robbins, 30, as she prepared to move out of a homeless shelter in Pensacola, Fla., where she and her five children have been living. She is using the last of her cash reserves, about $500, to move into a small, unfurnished rental home.

Robbins lost her job as a juvenile justice worker in 2009 and her last $235 unemployment check will arrive Dec. 13. Her 10-year-old car isn't running, and she walks each day to the local unemployment office to look for work.

Jeanne Reinman, 61, of Greenville, S.C., still has her house, but even that comes with a downside.

After losing her computer design job a year and a half ago, Reinman scraped by with her savings and a weekly $351 unemployment check. When her nest egg vanished in July, she started using her unemployment to pay off her mortgage and stopped paying her credit card bills. She recently informed a creditor she couldn't make payments on a loan because her benefits were ending.

"I'm more concerned about trying to hang onto my house than paying you," she told the creditor.

Ninety-nine weeks may seem like a long time to find a job. But even as the economy grows, jobs that vanished in the Great Recession have not returned. The private sector added about 159,000 jobs in October — half as many as needed to reduce the unemployment rate of 9.6 percent, which the Federal Reserve expects will hover around 9 percent for all of next year.

"I apply for at least two jobs a day," said Silvia Lewis, of Nashville, Tenn., who's also drained her 401(k) and most of her other savings. "The constant thing that I hear, and a lot of my friends are in the same boat, is that you're overqualified."

JoAnn Sampson of Charlotte hears the same thing. A former cart driver at U.S. Airways, she and her husband are both facing the end of unemployment benefits, and she can't get so much as an entry-level job.

"When you try to apply for retail or fast food, they say 'You're overqualified,' they say 'We don't pay that much money,' they say, 'You don't want this job,'" she said.

Sampson counts her blessings: At least her two children, a teenager and a college student, are too old to expect much from Christmas this year.

Shawn Slonsky's three children aren't expecting much either. The 44-year-old union electrician in northeast Ohio won't be able to afford presents or even a Christmas tree.

His sons and daughter haven't bothered to send him holiday wish lists with the latest gizmos and gadgets.

Things used to be different. Before work dried up, Slonsky earned about $100,000 a year and he and his wife lived in a three-bedroom house where deer meandered through the backyard. For Christmas, he bought his aspiring doctor daughter medical books, a guitar, a unicycle.

Then he and his wife lost their jobs. Their house went into foreclosure and they had to move in with his 73-year-old father.

Now, Slonsky is dreading the holidays as he tries to stretch his last unemployment check to cover child support, gas, groceries and utilities.

"You don't even get in the frame of mind for Christmas when things are bad," he said. "It's hard to be in a jovial mood all the time when you've got this storm cloud hanging over your head."