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Politics : HUSSEIN Obama: A LIAR Americans canNOT TRUST -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (96)	4/5/2009 11:08:24 PM
From: Hope Praytochange	Respond to of 98

The unemployment rate rose +0.4 to 8.5% which is the highest since 1983 with 13.2 million people unemployed. If this recession feels a little more harsh than most it's because it is---we've now got the highest actual number of unemployed individuals since records were started in 1940. But that just counts people who are freshly out of a job. If you add those who are working part time out of necessity until they find a full time job, totaling 9 million--twice year ago levels--and those out of the labor force but still willing to work--the unemployment rate rises to a whopping 15.6%. The government chooses to only report those freshly out of work because it makes the numbers look a lot better--but the truth is the employment situation is bad--the question on traders' minds is will it get a whole lot worse? And the answer seems to be no. The economy has not materially worsened in Q1 and companies are now down to their core employment. It would take another major demand downturn to force companies to enact another round of layoffs. The nonessential and unskilled workers are the first to go followed by staff reductions and mid-level managers who are deemed unnecessary--they've cut the fat and some of the meat--from here they'll be cutting bone and good workers are just too hard to replace. Even though we'll likely see more job cuts the consensus is the rate of cuts will improve.