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alstry (< 20)

Unemployment to DROP to UNDER 2%??????



April 20, 2009 – Comments (4)

If we simply limit unemployment benefits to just two weeks, the U3 unemployment rate could drop to under 2% since anyone not employed after two weeks would likely be considered a discouraged worker and dropped off the unemployment rolls.

U6 rates would not be affected, but few besides Alstrynomics applies U6 rates in the mainstream press.

4 Comments – Post Your Own

#1) On April 20, 2009 at 10:19 AM, mliu01 (< 20) wrote:

Face it, America run by crooks and liars or even outlaws.

they lead a nation of fools.

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#2) On April 20, 2009 at 11:10 AM, alstry (< 20) wrote:

A Teeny Tiny FU 

WASHINGTON (MarketWatch) -- President Barack Obama will ask his Cabinet to quickly trim $100 million from their collective agency budgets, in an effort to reduce federal spending and reform government, the White House said Monday.

The total would represent a tiny portion of the federal budget. 

 Right now we are tracking over $2 Trillion dollar DEFICIT.  Add in the state and local deficits and you begin to wonder does money mean anything anymore????

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#3) On April 20, 2009 at 12:45 PM, alstry (< 20) wrote:

Eaton pushed out the recovery until next year. 

In January, Eaton said it was cutting an additional 5,200 jobs this year, on top of 3,400 eliminated in 2008. The new job cuts are intended to help the company reduce costs by $125 million in 2009.

My understanding is today they may have told their workers that they will have to take one week per quarter without pay in order to mitigate layoffs.

Another way to look at it is about a 8% paycut and this will likely never make news or statistics.

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#4) On April 20, 2009 at 1:00 PM, russiangambit (28.83) wrote:

Halliburton announced cuts today, in Houston. Houston is just now coming into the recession. Those banking on ""things are getting worse slower" = "things getting better" are dreaming.

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