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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

 
QuinnMae

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

Level 47 (279,436 Credits)
This question is closed.
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!!!
    PMSMom10

    Answer by PMSMom10 at 11:49 PM on Dec. 6, 2012

  • 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.
    DSamuels

    Answer by DSamuels at 1:28 AM on Dec. 8, 2012

  • Didn't you get the memo? It already has!


    sidesplittinglaughter

    DSamuels

    Answer by DSamuels at 1:27 AM on Dec. 8, 2012

  • 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.
    yourspecialkid

    Answer by yourspecialkid at 12:00 AM on Dec. 8, 2012

  • 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.

    QuinnMae

    Comment by QuinnMae (original poster) at 7:27 PM on Dec. 7, 2012

  • I think that many people were very complacent for a very long time. I consider myself well educated, involved. I watch the news but for a long time it was like I was asleep and have suddenly awaken. I cannot believe that jobs were outsourced for years and years and employers were given incentives to do just that and we were all just silently thinking that our world would not change. It worries me that those in power have no idea what their game of chicken is doing to the lives of people. Someone I know is on the verge of a nervous breakdown or suicide whatever comes first as she has been out of work for almost two years. I for one will vote anyone and everyone out of office who is currently in office. It is time for major changes. The only way that things will change is if Americans in force vote every damn person out of office. Regardless of what they say they are all prolonging this situation with them bullshit.
    booklover545

    Answer by booklover545 at 6:30 PM on Dec. 7, 2012

  • I'm seeing different numbers this morning by other sources. Now they are saying it's 7.7% but that 540,000 people dropped from the labor force. Which means less income earners. I don't know who's numbers to trust. I don't inherently trust government sources, but it looks as though Gallup used BLS statistics to come up with their figures. I will maybe have to sit for a while and figure this out this afternoon.

    QuinnMae

    Comment by QuinnMae (original poster) at 9:05 AM on Dec. 7, 2012

  • politicians think if they repeat something enough times ppl will start to believe them haha
    okmanders

    Answer by okmanders at 1:02 AM on Dec. 7, 2012

  • 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.
    QuinnMae

    Comment by QuinnMae (original poster) at 12:43 AM on Dec. 7, 2012

  • 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.
    Ballad

    Answer by Ballad at 12:31 AM on Dec. 7, 2012