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4 Bumps

Jobless Recovery, Is There Such A Thing?

421,000 new unemployment filings. They are (and have been)calling it a jobless recovery.
Personally I don't believe there is such a thing. While businesses may have a slightly better bottom line and the GDP may show tiny hints of something good, it's the people who make and spend the money. I contend there is no recovery without jobs.
Your thoughts?

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 9:07 AM on Dec. 9, 2010 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (12)
  • I agree with you, but Nancy Pelosi doesn't. She thinks that unemployment is one of the biggest sources of stimulus for our economy. I am still trying to figure out that math, but if that was the case wouldn't things be getting better as more people file for unemployment? IDK, that fuzzy math gets me every time. I will wholeheartedly admit that I hate algebra, so if that's what she is using to reach her conclusion I am hopeless to understand her.

    QuinnMae

    Answer by QuinnMae at 9:12 AM on Dec. 9, 2010

  • yeah, there is such a thing. No more jobs are created, but people who can actually start to spend again. The ones with secure jobs start to feel secure again. And they start needing things again from when they stopped spending 2 years ago.
    10 for 10, 10 years total of near 10% UE is a real issue to contend with. IMO the people who were close to 50 in 2008 and refuse to be flexible or retrained will remain jobless and on Assistance until retirement. Parents will be moving in with their employed children. Nice huh?
    Retraining is needed with these jobless benefits, manufacturing and other jobs sectors will never return-People need to realize that TODAY
    jewjewbee

    Answer by jewjewbee at 9:33 AM on Dec. 9, 2010

  • Jobless recovery my ass! No one is hiring and as much as we have unemployed people getting UIA we have just as many unemployed not getting UIA.

    The solution is for these companies to start hiring and stop discriminating against people and start doling out the jobs. This country is not helping each other very well these days and when companies refuse to hire it puts strain and pressure on the charities to help people who are down and out of money, they are feeling the strain to help people.
    tyme4me2day

    Answer by tyme4me2day at 9:52 AM on Dec. 9, 2010

  • That so called "stimulus" Nancy speaks of last only so long. No jobs are out there, so people are just out of luck and on their own these days.
    tyme4me2day

    Answer by tyme4me2day at 9:55 AM on Dec. 9, 2010

  • I do agree that businesses that are hiring need to stop discriminating. They are expecting cadillacs for the price of a pinto. My friend applied for a receptionist position and the requirements for a $10/hr job is a degree and often times another language.  If you're over the age of 50 you're less likely to get hired, especially with the requirements companies are asking... Something has got to change before there is any kind of recovery.  My husband took a huge pay cut just to get back in the workforce, anything to get off unemployment.... it's humbling given he's been in his field for 25+ years. Another friend who's an engineer took a 50% pay cut just to get a job. So that company has an overqualified person and has no plans to pay accordingly now that they've gotten away with it. Sad but the sign of the times...

    parrishsky

    Answer by parrishsky at 10:39 AM on Dec. 9, 2010

  • I agree!
    gammie

    Answer by gammie at 10:58 AM on Dec. 9, 2010

  • It's not a new concept. We heard the phrase in 2004, too. http://www.businessweek.com/bwdaily/dnflash/mar2004/nf20040321_2718_db079.htm
    gdiamante

    Answer by gdiamante at 1:50 PM on Dec. 9, 2010

  • In the interest of fairness, WSJ took a different view then: http://online.wsj.com/article/0,,SB107290591855878500,00.html
    gdiamante

    Answer by gdiamante at 1:52 PM on Dec. 9, 2010

  • Hmmm...we don't need a "jobless recovery"....we need a "jobs recovery". Most of our manufacturing has gone elsewhere along with jobs in nearly every sector. Unless and untill our Gov. begins penalizing companies for sending work overseas and stops rewarding them with tax cuts on profits made overseas, I don't see the situation in this country getting any better any time soon. Years ago, when NAFTA passed hubby and I were discussing it and we concluded that NAFTA and agreements like it would eventually turn this country into a "welfare" nation. At the time many others laughed at the thought but hey, look where we are now. Most of our manufacturing gone, as well as jobs in nearly every sector and unemployment at an all time high with no real relief in sight. The super wealthy are getting wealthier and the rest of us are losing ground on a nearly daily basis thanks to out-sourcing.
    meriana

    Answer by meriana at 3:38 PM on Dec. 9, 2010

  • It's frightening how a Lib's mind works. There is no "recovery".


    Obama lied, the Economy died.

    SavageGrl

    Answer by SavageGrl at 4:08 PM on Dec. 9, 2010

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