AUTOREFRESH 
US government sees steady unemployment rate
By Jamie Coleman || March 16, 2010 at 14:07 GMT
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A joint statement from the Treasury, Office of Management and Budget and the Council of Economic Advisers says that the US economy has pulled out of an uncontrolled freefall to approximate stability. Job losses have slowed to a trickle but the unemployment rate is unlikely to decline this year. US unemployment is likely to remain elevated for some time but the average rate may be lower than forecast for 2010. Passage of pay-as-you go budgeting rules and a strengthening economy should lead to lower deficits of approximately 5% of GDP by mid-decade, the statement says.
That’s nice…..and the 15 minutes of local news about teachers, etc in California getting pink notices and companies going under that I watched last night probably didn’t know about all of this….happy days are here again.
One interesting thing in today’s trading is that I see Kiwi rallying across the board against most of major rivals… is there any news out there? I didn’t find anything of worth…AUD/NZD has slipped yet again below 1.3, approaching 1.29…
A record number of people have left the workforce in this recession. I suppose they don not count, and are not expected to apply for a job ever again. Makes one really wonder where the jobs are supposed to come from. China bashing, protectionism (Boeing vs EADS) do not seem to be the answer. Mfg employment is going down since 10yrs, housing construction is still on its knees. The consumer is buying Ipods and flat screen TVs and foreign cars.
This is the most outrageous lie out of Washington this year! Unemployment is soaring out of control this year. If you just look at the Unemployment Insurance claims you would know that one week in January they had over 800,000 people file for UI for the first time. That is the actual number from the states, the so called Unadjusted number. The average this year is Two and a Half Million a month have filed initial claims. That is an economy totally out of control.
If this was an industry dominant economy high unemployment would be something that we could gloss over and say “Unemployment always trails a recovery.”
The reality is that this is a Service Sector Economy (70%) and Unemployment is a LEADING indicator of future problems.
Washington is nothing but lies and more lies for the Sheeple. Don’t believe our government. Believe what you see.