Obama Tells Panel of Advisers U.S. Recovery Is Challenged by Jobless Rate

Obama Tells Panel of Advisers U.S. Recovery Is Challenged by Jobless Rate

http://www.bloomberg.com/news/2011-02-24/obama-says-jobless-rate-remains-challenge-for-u-s-recovery.html

“The biggest challenge that we’re seeing right now is that
unemployment is way too high,” Obama told the 23-member
President’s Council on Jobs and Competitiveness yesterday. The
advisory group, led by General Electric Co. chief executive
officer Jeffrey Immelt, replaces the President’s Economic
Recovery Advisory Board, which was headed by former Federal
Reserve Chairman Paul Volcker.

Maybe I'm just splitting hairs here, but...
the "unemployment rate" is just a number - how does that challenge the recovery?
I wish they'd say out loud, and plainly, what that "unemployment number" represents - a big black hole of missing JOBS.

Kat wrote:Maybe I'm just splitting hairs here, but...
the "unemployment rate" is just a number - how does that challenge the recovery?
I wish they'd say out loud, and plainly, what that "unemployment number" represents - a big black hole of missing JOBS.

And with the big black hole of missing JOBS there is an even bigger black hole of lost demand. Unemployed people are unable to afford any extras and exhaustees can't afford the necessities. If these people were employed they would be more demand for goods and services.

Does he mean that the jobless rate is getting SOOOO good???? And MORE than expected!

JaneWI wrote:

Kat wrote:Maybe I'm just splitting hairs here, but...
the "unemployment rate" is just a number - how does that challenge the recovery?
I wish they'd say out loud, and plainly, what that "unemployment number" represents - a big black hole of missing JOBS.

And with the big black hole of missing JOBS there is an even bigger black hole of lost demand. Unemployed people are unable to afford any extras and exhaustees can't afford the necessities. If these people were employed they would be more demand for goods and services.

Exactly! Lost demand translates into real suffering.
Taking about "unemplyment" in the abstract, as a statistical measure - referring to millions of lost jobs that have dire consequensces for millions of people... people our economy depends on for recovery, by the way, just galls me.
70% of our economy is consumer driven.
The greatest challenge to this nation's economic recovery is the President's, the Congress, and the money bags in the private sector's FAILURE to create jobs. Period.

unemployed2long/1208 wrote:Does he mean that the jobless rate is getting SOOOO good???? And MORE than expected!

Absolutely NOT!

The unemployment rate? It's all smoke and mirrors. But, when you start appointing Corporate heads into key positions in the Government, this amounts to FACISIM ; a government controlled and run by Corporations. As one poster stated " God bless the United Corporations of America" ! With everything now going on in this country, the people who are still working will be working for minimum wage with no benefits, and every one else will be in deep doo-doo.

These people should have their own comedy show:

"The chief executive officer of American Express Co., Kenneth Chenault, told the president that he is seeing growth in small businesses and across industries, yet he is concerned that consumers aren’t spending and using their credit cards because of “uncertainty” in the economy.

“They’re being very rational, but that is alarming that 75 percent of the credit out there is not being used,” Chenault said.""

js123 wrote:These people should have their own comedy show:

"The chief executive officer of American Express Co., Kenneth Chenault, told the president that he is seeing growth in small businesses and across industries, yet he is concerned that consumers aren’t spending and using their credit cards because of “uncertainty” in the economy.

“They’re being very rational, but that is alarming that 75 percent of the credit out there is not being used,” Chenault said.""

Not only are the unemployed unable to spend money we don't have. But, those still with jobs are still scared they could become a statistic. They aren't spending money nor borrowing for non-essentials. Consumer spending follows "Consumer Confidence" (another government stat.) Until companies start hiring (making the Unemployment stats go down), people aren't going to spend money.

God forbid Americans be "rational"!

Couldn't be because mounting credit is all we hear about??? Credit and greed got us all into this mess and no one really feels secure that their job won't be touched. If certain governor's get their way, not only will state employees get the ax but projects will not be partially funded which in turn will pull investors back and here we go again. All this with the threat of gas hitting $4 sooner than later and who can blame anyone for not using credit.

Of course, it should be said that if people don't use Credit, the exec's at banks, VISA, MC, Discover and Amex don't get their larger than life bonus structures, I guess they'll just have to adjust to the new normal too, huh?

Does anybody else think this is whacky...?
Congress is elected by the voting citizens in this country, they are paid out of money we pay the government in taxes...they work for us.
So why haven't their salaries, and benefits, and pensions ever been put on a referendum for the public to agree to by a vote?
I don't know the history of this...does anyone else?
When they yammer on & on about the cost of (and how we can't afford) this program or that for the poor or middle class- it'd be good to know just how much Congress is costing the taxpayers, wouldnt it? When they offer give up substantial amounts of personal pay and benefit costs, then maybe they can talk about "shared sacrifice".

God Bless America for the land of the homeless and poor.
Where bank bonuses are given and 99ers starve.
Then the government shut downs.

Those Republicans screw us again.

Kat wrote:Does anybody else think this is whacky...?
Congress is elected by the voting citizens in this country, they are paid out of money we pay the government in taxes...they work for us.
So why haven't their salaries, and benefits, and pensions ever been put on a referendum for the public to agree to by a vote?
I don't know the history of this...does anyone else?
When they yammer on & on about the cost of (and how we can't afford) this program or that for the poor or middle class- it'd be good to know just how much Congress is costing the taxpayers, wouldnt it? When they offer give up substantial amounts of personal pay and benefit costs, then maybe they can talk about "shared sacrifice".

They lie out of their A**es at election time and once elected they turn on us! Tyrants! All on dems and repubs...

Kat wrote:When they yammer on & on about the cost of (and how we can't afford) this program or that for the poor or middle class- it'd be good to know just how much Congress is costing the taxpayers, wouldnt it? When they offer give up substantial amounts of personal pay and benefit costs, then maybe they can talk about "shared sacrifice".

My thoughts exactly. If things are as financially tight as some claim them to be then these politicians will be giving back part of their salary and forgoing their health and medical insurance and would decline any form of pension.

JaneWI wrote:

Kat wrote:When they yammer on & on about the cost of (and how we can't afford) this program or that for the poor or middle class- it'd be good to know just how much Congress is costing the taxpayers, wouldnt it? When they offer give up substantial amounts of personal pay and benefit costs, then maybe they can talk about "shared sacrifice".

My thoughts exactly. If things are as financially tight as some claim them to be then these politicians will be giving back part of their salary and forgoing their health and medical insurance and would decline any form of pension.

I agree that would only be fair since they work for us. However; I have not seen too many politicians and leaders who are willing to be fair when it comes to "sharing sacrifice".

I have seen one local mayor in a small town near me regularly donate his paycheck to the food bank which I thought was impressive.

I did a little research...turns out Congress is required by the Constitution (article 1, section 6) to determine their own compensation.
Sheesh!..."by the people FOR the people", my booty!