Unemployment Rate Hits 5-Year High
As Economy Continues to Shed Jobs
The U.S. jobless rate jumped in August to a nearly five-year high as employment fell for an eighth-straight month, raising the risk of recession as households face a struggling labor market and high inflation.
The unemployment rate, which is calculated using a separate survey of households, soared 0.4 percentage point to 6.1%, the highest since September 2003. The unemployment rate was under 5% as recently as February. According to the household survey, employment fell by 342,000 while unemployment rose by 592,000.
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Ah trickle down economics in its full glory...this is exhausting watching the greatest nation on the planet being sold out to foreign labor markets.
How many jobs are being moved overseas by American companies in order to get a better bottom line, see my previous article on GM, they spent over 5 billion between India and China...what has GM spent in the US making plants?...I won't ever buy another GM vehicle again.
GM has no faith in Americans, why should Americans have faith in GM?
It's hardly a GM problem, ALL the American auto companies do extremely well overseas or internationally...you won't see many of those reports.
Automotive manufacturers want a government bail out for their failed domestic sales campaigns yet consistently sell out Americans for a dollar.
Goodbye American auto industry...here in Detroit we DO know whats going on...your U.S. sales will continue to fall, you've lost your best customers AND employees here in the U.S. because of your greed....I wonder when the Indians and Chinese will organize into unions and thwart your turncoat policies?
Next time you need.....I mean want... a bail out ask China's beloved leader or India's Prime Minister, but don't beg the American people.
To those who would declare me un-American for no longer buying American cars....you had better look around your house first.
Take a look at every product you have from the big screen TV to your hand tools in your garage to the underwear wrapping your nasty pee-pee and look for the "Made in China" label.
When shopping try to stop buying anything that says "Made in China" on it.
I DARE YOU.
Your furniture, your clothes, your electronics, your toys...virtually everything you own was made in China.
Count how many things say "Made in the U.S.A" in your house....did it fill up both your hands with products?
Don't call me un-American when your as bad a consumer.
This is how its been done for the last 50 years. I want it cheaper and I want it now.
So where does this diatribe end? What is he rambling on about? When will he shut his dang cake hole?
Here it is...the citizenry of the U.S. is totally responsible for the U.S. economic recession and the continually rising U.S. unemployment.
Our sleepy headed complacency with federal, corporate and state leaders as they sold us out inch by inch and our out of control consumerist need for cheaper and newer products have brought us to this point.
We allowed it because we wanted and wanted and wanted.
What do you really need to get by?
Your boat? Your 3rd car? Your summer home? The latest and greatest electronic toy?
Has your phone ever loved you back?
In a year or two what dresser drawer will you throw your obsolete phone into?....Will the dresser say "Made In China" like your phone does?
Welcome To Detroit
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