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Now that you know that they know.....

Do Bernankes words make you feel any better?

Sorry my computer is screwing with me this morning and I can't do a clicky but here is a portion of the yahoo article

Fed boss: It will take years for jobs to come back
WASHINGTON – Federal Reserve Chairman Ben Bernanke sketched a more optimistic outlook for the economy, but said a $600 billion bond-buying program is needed because it will take up to five more years to bring unemployment back to healthy levels.

Bernanke spoke one hour after the government released a disappointing employment report. Employers added only 103,000 jobs in December. The unemployment rate fell to 9.4 percent partly because people gave up looking for jobs. The report suggested only slow healing in the jobs market. Many economists had forecast much bigger job gains and were looking for a signal that a crucial corner had been turned in the labor market recovery.

Asked about Friday's 103,000 job gains, Bernanke said if that pace of job creation were maintained "you won't see sustained declines in the unemployment rate."

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 11:37 AM on Jan. 7, 2011 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (5)
  • Per the article: The unemployment rate fell to 9.4 percent partly because people gave up looking for jobs


    Interesting....

    grlygrlz2

    Answer by grlygrlz2 at 11:39 AM on Jan. 7, 2011

  • Bernanke's words make my ears bleed.

    I'll feel better when the house next door that been vacant for 3 years has a family living in it and when my city re-hires the 6 police officers that were laid off last year.
    UpSheRises

    Answer by UpSheRises at 1:08 PM on Jan. 7, 2011

  • Doesn't make me feel better. It's still slim pickens out there looking for work. I went from seeing 3 jobs a day I qualify for to none. It sucks! Then if you qualify you are competing with hundreds of other people. I have first hand experience being unemployed and wish they would figure out how to create jobs and not worry so much about the stupid things going on in this country (reading the constitution). Politicians need to concentrate on "the people" not on party differences. Enough is enough!
    Anonymous

    Answer by Anonymous at 1:14 PM on Jan. 7, 2011

  • I read info online today that the numbers are even worse - that it could take 20 to 30 YEARS to recover and bring unemployment to zero percent.
    tasches

    Answer by tasches at 5:43 PM on Jan. 7, 2011

  • I think its been pretty consistant,,,I thought I had heard previously it would remain high until 2012-2013.


    sucks to hear.....


    until they stop companies from outsourcing jobs, thats the way it will stay

    sweet-a-kins

    Answer by sweet-a-kins at 9:29 PM on Jan. 7, 2011

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