Friday, December 05, 2008

Another great sucking sound

By Michael J.W. Stickings

Not the sound of jobs leaving but of jobs evaporating:

The economy shed 533,000 jobs in November, according to a government report Friday - bringing the year's total job losses to 1.9 million.

November had the largest monthly job loss total since December 1974.

"This is a dismal jobs report," said Keith Hall, commissioner of the Bureau of Labor Statistics, at a congressional hearing. "There's very little in this report that's positive. This is maybe one of the worst jobs reports the Bureau of Labor Statistics (founded in 1884) has ever produced."

The just-under 1.9 million jobs lost in the current recession, which began in December 2007, surpasses the 1.6 million jobs lost in the 2001 recession.

It's also the sound of the Bush presidency as it winds down. The economic situation isn't entirely his fault, but he sure is going out on an exceedingly low note.

For more on the jobs report, see Joe Gandelman over at TMV.

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2 Comments:

  • Okay, now. He's leaving in 46 days, so stop the intellectual dishonesty and admit the blame is EXTREMELY widespread, among Republicans, Democrats, conservatives, liberals, greedy Wall Street assholes and greedy union bosses and on and on and on. W. will get labeled with this one just as Hoover did in the early 30's, because he's an easy target and it's expedient. It doesn't take a lot of thought just to "blame it all on Bush." But get serious. A mentality of vile greed has proliferated in this country since at least the 1980's (and no, that doesn't mean you can blame it on Reagan either -- also too convenient). Read some of the stuff Michael Lewis, of "Liar's Poker" fame has written recently, and you'll get the idea. When I knew in the 1980's that I didn't want to work on Wall Street, or anywhere in banking, because I didn't have a fucking clue, well, it turns out most of the people who TOOK those jobs had no fucking clue either. Frankly, I feel hoodwinked. I feel very badly for Barack Obama - this is a surreal crisis. I didn't vote for him, but I'm going to stand behind him because he needs all the support he can get. I've never been a Democrat and I'm done with Republicans. We need a real populist, and frankly I don't care whether it's a populist from the left or the right, but a REAL populist, someone who really is for the people, ALL the people, from the very poor, to the middle class, to the working affluent, i.e. those who can spend and "stimulate the economy" only because their gainfully AND HONESTLY AND ETHICALLY employed.

    By Anonymous Anonymous, at 7:59 PM  

  • By Anonymous Anonymous, at 12:15 PM  

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