US Jobless Rate Hit 7.6% in January

[concerned]

www.nytimes.com/2009/02/07/business/economy/07jobs.html?_r=1&hp

WASHINGTON — The country moved into its second year of uninterrupted job losses last month, with companies shedding another 598,000 jobs and the unemployment rate moving up to 7.6 percent, the Labor Department reported on Friday.

[Swimmy]

But the $700 billion scam was supposed to stave this off! Chase bought a multimillion dollar jet from the monies received under this scam to help stop this economic crisis...

This is why the government should NOT try to fight a downward economic cycle. Just let things fall as they may and pick up the pieces when the cycle reaches the low point. These companies should have been allowed to fail, file for ch. 13 bankruptcy, reorganize, restructure, and let the economy go through its normal cycle of ups and downs.

The stimulus package is a crock!

[dgriffin]

Executives realize if they want their bonuses, which are based on profits, they have to reduce expenses, thus fire employees. Of course, then sales fall off when paychecks are lost.
Wasn't someone in Washington supposed to know this?

[frankcor]

Someone in Washington did know, Dave. And they're keeping a very close eye on you, Mr. Bigmouth.

::snicker::