So, when exactly is the economy supposed to come 'roaring back'?

Nov. UE numbers just came out and it looks like we are "unexpectedly" back up over 8%.

To be fair (or generous, IMO), the article states:

It is unclear what caused the increase in the unemployment rate in November, although some experts speculate that it was caused by jobs lost as a result of superstorm Sandy. It is also possible that lackluster holiday hiring is to blame.

The article also states that the underemployment rate is 17.2%, up from 15.9% in October.

Usually the trend this time of year is for unemployment to go down a notch due to temporary seasonal hiring, however that didn't happen this year. I can see how the storm may have made an impact, but do you feel that this is a glimpse into what is coming or do you think that this is just fallout from the storm and that things will return to our new normal after the new year? Do you expect the economy to come roaring back and if so, what do you think needs to happen first to make it possible?

*please note that I don't know what the conditions in the worst hit areas from Sandy.

http://www.gallup.com/poll/159104/unadjusted-unemployment-shoots-back.aspx

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Asked by QuinnMae at 11:32 PM on Dec. 6, 2012 in Politics & Current Events

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Answers (14)

I don't think blaming the storm on high unemployment makes sense at all.

I think we live in a needy, you owe me, it's free society. Easier for SOME to live off unemployment, free health care., food stamiis etc.
versus actually getting off their ass and searching for a job regardless of what type of job it is.

I actually had a patient come to the pharmacy and thank me for working so she can get her scripts for. Free!!!

Answer by PMSMom10 at 11:49 PM on Dec. 6, 2012
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All I know is that sex sells. October and November were my highest months in 6 years! :)

Answer by PartyGalAnne at 12:04 AM on Dec. 7, 2012
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Oh ya thats right, we maybe jumping of that fiscal cliff, and you are going to Hawaii!!!

Answer by Anonymous at 12:05 AM on Dec. 7, 2012

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Considering how the election turned out....not anytime soon. Honestly, I think we are looking at the new norm for ue rates.

These numbers don't include the 11,000 from Citigroup or the 18,500 from the Hostess group.

Answer by yourspecialkid at 12:00 AM on Dec. 8, 2012
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Didn't you get the memo? It already has!

Answer by DSamuels at 1:27 AM on Dec. 8, 2012
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I agree that new people need to come into office, however that's problematic when politicians that have held their seats have no serious primary competition when they come up for re-election. That's why we end up with the people we have, over and over again.

Also, while most people hate congress overall, they like their own congress person. So they keep getting re-elected.

Answer by DSamuels at 1:28 AM on Dec. 8, 2012
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well it took about 16 years for us to get out of the Great Depression so...not anytime soon.

what strikes me as odd is that ppl are spending more right now than they have since the recession started...yet companies cant afford to hire as many seasonal workers as usual? but no its all Obama's fault, not the ppl who are too good for "those" kinda jobs or the CEOs who demand to continue to get raises & bonus despite not making more money...

Answer by okmanders at 12:09 AM on Dec. 7, 2012
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LOL@anon....Obama can't 'make' more jobs, he has no control over that. But he can make it easier to open up a small business which in doing that will help with the UE rate, and boost the economy.

Answer by Michigan-Mom74 at 12:21 AM on Dec. 7, 2012
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I'm holding my breath ... turning blue over here ...

This year will, once again, be my worst year since I started in business for myself. School districts just aren't buying as many new books because they, like everyone else, have no money.

Answer by Ballad at 12:31 AM on Dec. 7, 2012
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I'm not trying to point fingers, but there have been a few politicians that have referred to the economy roaring back. I just want to be prepared for the rush of awesome when it happens. I think pretty much everything DC is doing is preventing that from happening, of course that's my own speculation.

Comment by QuinnMae (original poster) at 12:43 AM on Dec. 7, 2012
Credits: 235964 Level 46 Politics & Current Events Degree