California budget to leave many displeased - MarketWatch:
"By Russ Britt, MarketWatch LOS ANGELES (MarketWatch) — With California teetering on the brink of financial ruin, Democratic Gov. Jerry Brown on Monday offered a state spending plan that he said is sure to be painful, and that is almost certain to please no one, especially not voters.
Brown is proposing spending cuts of $12.5 billion, including an 8% to 10% cut in take-home pay for most state employees, and what he called a “vast and historic” restructuring of California’s government.
...
He also would eliminate tax relief for those businesses in “enterprise zones,” or depressed areas.
...
Already, Brown said he has cut $7 million, or 25%, from operations of his own offices, including the elimination of the state First Lady staff."
It was only a matter of time before State Governments began the layoffs and pay cuts. But what about those "depressed" areas? Does it make any sense to tax small businesses struggling to survive in these areas out of business? Wouldn't it make more sense to encourage businesses to prosper, hire more locals and raise the area out of poverty, and collect more sales and payroll taxes from the increased profits?
We should require IQ tests before a politician is allowed to run for office. Basic math skills would help too, testing them at an eighth grader level might do wonders for our country!
Monday, January 10, 2011
Sunday, January 9, 2011
December 2010 jobs report: Payrolls up, unemployment rates falls
December jobs report: Payrolls up, unemployment rates falls - Jan. 7, 2011:
"NEW YORK (CNNMoney) -- High hopes for December's employment numbers were dashed Friday, when the Labor Department reported disappointing job gains for the month. But the unemployment rate took a surprising dive.
The economy added 103,000 jobs in December -- falling short of most expectations. Meanwhile, the unemployment rate sunk to 9.4%, its lowest level since May 2009, confusing some economists. While a sharply lower unemployment rate was a welcome surprise, some experts said that drop was mostly due to a shrinking workforce."
and
"About 260,000 adults dropped out of the labor force for various reasons, and were no longer counted as unemployed by the government. The overall participation rate in the U.S. labor force fell to a new recession low of 64.3%. "Incredibly, the U.S. labor force is now smaller than it was before the recession started, though it should have grown by over 4 million workers to keep up with working-age population growth over this period," said economist Heidi Shierholz of the Economic Policy Institute."
The news just gets worse and worse. As small businesses collapse, with literally hundreds shutting down daily, the job market is rapidly shrinking. The last 2 years have taken a toll on the backbone of our economy, the small business, with the Federal, State and City Governments taxing or regulating most out of business in such a short time.
With a new Congress seated in D.C. to greet a New Year, one can only hope this new batch has a better understanding of what is wrong with our economy, and that taxing businesses out of business results in collection of NO tax once they shut down.
"NEW YORK (CNNMoney) -- High hopes for December's employment numbers were dashed Friday, when the Labor Department reported disappointing job gains for the month. But the unemployment rate took a surprising dive.
The economy added 103,000 jobs in December -- falling short of most expectations. Meanwhile, the unemployment rate sunk to 9.4%, its lowest level since May 2009, confusing some economists. While a sharply lower unemployment rate was a welcome surprise, some experts said that drop was mostly due to a shrinking workforce."
and
"About 260,000 adults dropped out of the labor force for various reasons, and were no longer counted as unemployed by the government. The overall participation rate in the U.S. labor force fell to a new recession low of 64.3%. "Incredibly, the U.S. labor force is now smaller than it was before the recession started, though it should have grown by over 4 million workers to keep up with working-age population growth over this period," said economist Heidi Shierholz of the Economic Policy Institute."
The news just gets worse and worse. As small businesses collapse, with literally hundreds shutting down daily, the job market is rapidly shrinking. The last 2 years have taken a toll on the backbone of our economy, the small business, with the Federal, State and City Governments taxing or regulating most out of business in such a short time.
With a new Congress seated in D.C. to greet a New Year, one can only hope this new batch has a better understanding of what is wrong with our economy, and that taxing businesses out of business results in collection of NO tax once they shut down.
Wednesday, December 22, 2010
Stimulus price tag: $2.8 trillion
Stimulus price tag: $2.8 trillion - Dec. 20, 2010:
"NEW YORK (CNNMoney.com) -- Since the recession began three years ago, Congress has poured a total of $2.8 trillion into the economy in an effort to spur hiring, get people spending again and prop up industries struggling to stay afloat.
While the $858 billion package of tax cuts passed last week was the biggest slice of stimulus yet, it accounts for less than a third of all the money spent since the start of 2008, according to multiple cost estimates prepared by the nonpartisan Congressional Budget Office over the last three years."
...
"Public works projects like road and school repair or efforts to develop clean energy and high speed rail, along with help for state and local governments, was a relatively small part of the total stimulus -- just over $250 billion, or about 9% of the spending, most of it found in the stimulus act passed at the start of the Obama administration."
All right, this year is just about over. Lets face facts, this nearly 3 trillion dollars was wasted. The economy still isn't "fixed", jobs are still not being created, small businesses are still crashing and burning. Bankers and automakers are snickering all the way to the proverbial bank, everyone else (and their children) are and will be paying for this debacle for decades to come.
Come January a new Congress will have to figure out a way, not just to fix the economy, but also to undo the ravages of "bailouts" that have made things worse. Lets wish them luck, common sense, and basic math skills. And remind them of the next Congressional elections in 2012, aka the Mayan calendar's final year.
If only we had all the gold those Mayans had back then!
"NEW YORK (CNNMoney.com) -- Since the recession began three years ago, Congress has poured a total of $2.8 trillion into the economy in an effort to spur hiring, get people spending again and prop up industries struggling to stay afloat.
While the $858 billion package of tax cuts passed last week was the biggest slice of stimulus yet, it accounts for less than a third of all the money spent since the start of 2008, according to multiple cost estimates prepared by the nonpartisan Congressional Budget Office over the last three years."
...
"Public works projects like road and school repair or efforts to develop clean energy and high speed rail, along with help for state and local governments, was a relatively small part of the total stimulus -- just over $250 billion, or about 9% of the spending, most of it found in the stimulus act passed at the start of the Obama administration."
All right, this year is just about over. Lets face facts, this nearly 3 trillion dollars was wasted. The economy still isn't "fixed", jobs are still not being created, small businesses are still crashing and burning. Bankers and automakers are snickering all the way to the proverbial bank, everyone else (and their children) are and will be paying for this debacle for decades to come.
Come January a new Congress will have to figure out a way, not just to fix the economy, but also to undo the ravages of "bailouts" that have made things worse. Lets wish them luck, common sense, and basic math skills. And remind them of the next Congressional elections in 2012, aka the Mayan calendar's final year.
If only we had all the gold those Mayans had back then!
Monday, October 11, 2010
Structural unemployment? What nonsense.
Why structural unemployment isn't the job market's problem - Oct. 11, 2010:
"NEW YORK (CNNMoney.com) -- An increasingly fierce debate is raging over the reason why unemployment is still so stubbornly high.
While most people think businesses simply aren't hiring enough to absorb the millions of unemployed workers, a rising tide of prominent economists dispute that. They claim that there are jobs out there, just not the right candidates to fill them."
I guess its a slow news day for this Columbus Day holiday, but for any media outlet to publish such a nonsense story is atrocious. Of course there are "jobs" out there, but would you really expect an engineer, say, to flip burgers at the local fast-food joint ... or would he/she look for a job as, say, an engineer perhaps?
"With more than 3 million job openings reported by the Labor Department, the unemployment rate should be close to 6.5%, said Kocherlatokta, not the 9.6% where it stands now.
He said that one of the reasons for the worsening imbalance is that so many underwater homeowners who can't sell their houses are unable to move in search of job opportunities."
Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis. Perhaps his Presidentshipness would like to fill one of the job openings in his own agency, say, as a janitor? And this clown is in charge of a Federal Reserve Bank, no wonder we are wallowing in the fiscal doldrums.
Its quite simple. Employers employ employees. Duh. Less employers, less openings for employees, ergo higher unemployment. The current tax and regulatory environment coupled with the lack of any available funding from banks is killing our small businesses, whose owners are packing it up and looking for jobs themselves. Bailing out banks, car makers and health insurance companies is NOT creating jobs - because it is NOT helping small businesses to survive, forget about growth. Small businesses form the bulk of "employers", not mega-corporations, who are gleefully slicing and dicing at their employee salaries and benefits while the current Congress is blindly stumbling around throwing wads of taxpayer money into every trough they can find.
The trillions that have been wasted on these foolish bailouts should have been routed to small business as tax credits. It would not cost as much, since no taxpayer money would be paid out up front. As businesses prosper, they will increase tax revenues in the long run by increasing hiring and thus consumer spending from the happily employed, who will no doubt run out and buy High Definition 3D televisions with every paycheck. And if any business fails, it didn't cost the government a dime - since the failed business is not going to be taking that tax credit. I'm no economist, but this is straightforward common sense. In the immortal words of Voltaire (François-Marie Arouet), "Common sense is not so common". Especially in Congress.
"NEW YORK (CNNMoney.com) -- An increasingly fierce debate is raging over the reason why unemployment is still so stubbornly high.
While most people think businesses simply aren't hiring enough to absorb the millions of unemployed workers, a rising tide of prominent economists dispute that. They claim that there are jobs out there, just not the right candidates to fill them."
I guess its a slow news day for this Columbus Day holiday, but for any media outlet to publish such a nonsense story is atrocious. Of course there are "jobs" out there, but would you really expect an engineer, say, to flip burgers at the local fast-food joint ... or would he/she look for a job as, say, an engineer perhaps?
"With more than 3 million job openings reported by the Labor Department, the unemployment rate should be close to 6.5%, said Kocherlatokta, not the 9.6% where it stands now.
He said that one of the reasons for the worsening imbalance is that so many underwater homeowners who can't sell their houses are unable to move in search of job opportunities."
Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis. Perhaps his Presidentshipness would like to fill one of the job openings in his own agency, say, as a janitor? And this clown is in charge of a Federal Reserve Bank, no wonder we are wallowing in the fiscal doldrums.
Its quite simple. Employers employ employees. Duh. Less employers, less openings for employees, ergo higher unemployment. The current tax and regulatory environment coupled with the lack of any available funding from banks is killing our small businesses, whose owners are packing it up and looking for jobs themselves. Bailing out banks, car makers and health insurance companies is NOT creating jobs - because it is NOT helping small businesses to survive, forget about growth. Small businesses form the bulk of "employers", not mega-corporations, who are gleefully slicing and dicing at their employee salaries and benefits while the current Congress is blindly stumbling around throwing wads of taxpayer money into every trough they can find.
The trillions that have been wasted on these foolish bailouts should have been routed to small business as tax credits. It would not cost as much, since no taxpayer money would be paid out up front. As businesses prosper, they will increase tax revenues in the long run by increasing hiring and thus consumer spending from the happily employed, who will no doubt run out and buy High Definition 3D televisions with every paycheck. And if any business fails, it didn't cost the government a dime - since the failed business is not going to be taking that tax credit. I'm no economist, but this is straightforward common sense. In the immortal words of Voltaire (François-Marie Arouet), "Common sense is not so common". Especially in Congress.
Friday, October 8, 2010
Economy loses 95K jobs due to government layoffs
The Associated Press: Economy loses 95K jobs due to government layoffs:
"Economy loses 95K jobs due to government layoffs
By CHRISTOPHER S. RUGABER (AP) – 2 hours ago
WASHINGTON — A wave of government layoffs in September outpaced weak hiring in the private sector, pushing down the nation's payrolls by a net total of 95,000 jobs.
The unemployment rate held at 9.6 percent last month, the Labor Department said Friday. The jobless rate has now topped 9.5 percent for 14 straight months, the longest stretch since the 1930s."
Oh yes, thats just what we need now. Uncle Sam to start laying off workers, as if the private sector wasn't 'trimming' things enough by themselves.
"Since the recession ended in June 2009, the economy has grown 3 percent, according to economists at Deutsche Bank. That's less than half the average 6.5 percent pace in postwar recoveries."
Pssst. Dear Economists, perhaps this data is a clue. The 'recession' has NOT ENDED. Things are still bleak, and with Uncle Sam booting out its workers too, the situation is only going to get bleaker. These talking-head experts should be the ones facing a pink slip, not hard working 'real work' performing employees.
"The department said the economy shed 15,000 more jobs in July and August than previously estimated.
The government also issued a preliminary estimate of its annual revision to the jobs data. The revision is made after examining unemployment insurance tax records. The department said the revision is likely to show the economy lost 366,000 more jobs that it previously thought in the 12 months ending in March 2010."
Oops, did we do a boo-boo with the government issued calculator? Thats a big number to fudge with, or were we perhaps, perchance, possibly just 'softening the blow' during the past year? I hope the mathematical genius that porked these numbers was one of the "Government layoffs", wouldn't that be ironic!
"Economy loses 95K jobs due to government layoffs
By CHRISTOPHER S. RUGABER (AP) – 2 hours ago
WASHINGTON — A wave of government layoffs in September outpaced weak hiring in the private sector, pushing down the nation's payrolls by a net total of 95,000 jobs.
The unemployment rate held at 9.6 percent last month, the Labor Department said Friday. The jobless rate has now topped 9.5 percent for 14 straight months, the longest stretch since the 1930s."
Oh yes, thats just what we need now. Uncle Sam to start laying off workers, as if the private sector wasn't 'trimming' things enough by themselves.
"Since the recession ended in June 2009, the economy has grown 3 percent, according to economists at Deutsche Bank. That's less than half the average 6.5 percent pace in postwar recoveries."
Pssst. Dear Economists, perhaps this data is a clue. The 'recession' has NOT ENDED. Things are still bleak, and with Uncle Sam booting out its workers too, the situation is only going to get bleaker. These talking-head experts should be the ones facing a pink slip, not hard working 'real work' performing employees.
"The department said the economy shed 15,000 more jobs in July and August than previously estimated.
The government also issued a preliminary estimate of its annual revision to the jobs data. The revision is made after examining unemployment insurance tax records. The department said the revision is likely to show the economy lost 366,000 more jobs that it previously thought in the 12 months ending in March 2010."
Oops, did we do a boo-boo with the government issued calculator? Thats a big number to fudge with, or were we perhaps, perchance, possibly just 'softening the blow' during the past year? I hope the mathematical genius that porked these numbers was one of the "Government layoffs", wouldn't that be ironic!
Friday, September 3, 2010
Why the new healthcare law will cost us jobs
CNN.com - September 3rd, 2010
Obama calls for improving small business climate
"President Obama cited small businesses as 'the primary drivers of job creation' and called on Congress, especially the GOP, to tackle a bill aimed at improving the climate for such enterprises.
...
There are signs the economy is improving, though. He said August saw 67,000 new private sector jobs created, while official July numbers indicated 107,000 jobs were created. In contrast, the latest unemployment numbers show joblessness rose from 9.5 percent to 9.6 percent last month."
Oh please, what utter twaddle. Things are NOT improving, a drop of 40,000 new jobs in a month is the opposite of improvement. And a 9.5 or 9.6 percent unemployment rate is definitely not a sign of improvement.
However, let us give credit to President Obama for recognizing that small businesses are the backbone of our economy. Recognizing the obvious, that is indeed high praise for a politician. Solving the problem however, appears to be beyond the capabilities of the current leadership in Washington.
First, this Congress gave us the bank bailout. Billions and billions of tax dollars were doled out to the banks. Objective: spread the money as loans and funding to encourage small business growth and thus improve the economy and create jobs.
Implementation: zero checks and balances.
Result: top bank executives give themselves obscenely large bonuses, small businesses got absolutely nothing.
Congress claims victory and goes on to throw even more money at car manufacturers, who so far, have not quite been able to produce a car that they can sell in a country that has more cars per household than most other nations on this planet. Outstanding performance from Washington thus far.
And now we have a new healthcare bill. Yet another misguided legislative blunder. With a pricetag of nearly one TRILLION dollars. We don't do things on a small scale, why stop at wasting a Billion dollars when we can just as easy throw away a Trillion dollars.
Based on a noble sentiment, this law is absolutely misguided and lacks commonsense. Yes, this country has far too many medically uninsured individuals and families. However the quality of healthcare in the US is among the best in the world. What is the problem then? In a nutshell, we have the best medical care that money can buy, that unfortunately costs too much. The concept of health insurance is two-fold; first, the financial risk is spread out across a group, and second, the insurance company is able to negotiate volume discounts for their members. Without legislative control over what the health insurance companies can do, what we have ended up with is this; doctors receive a mere pittance for preventive and routine medical care for the insured patients, which forces them to charge cash customers up to ten times the fee just to break even. Doctors are essentially running a business, between salaries to nurses/assistants/office staff, rents, supplies, and most of all malpractice insurance - what a typical General Practitioner earns each year is laughable given the amount of time and education they have to invest into their work.
Now we have this new healthcare bill, a law that forces all employers with 50 or more employees to offer health insurance to their workers, or pay a $2,000 a year fine per employee. Yet it puts no restrictions on the health insurance companies whatsoever. I happen to be in one of the first lucky (not!) small businesses that are now discovering the true nature of this absurd law. My company's health insurance policy renews each year and we just received the new rates. Our health insurance premium has a 79% increase, yes, it has almost DOUBLED in just this first year of the new healthcare law!
What are employers to do if their insurance premiums are going to shoot up each year, without any limits?
And this is WHY this new healthcare law will affect YOUR job.
First option for the small business, layoff staff to get below the 50 employee cap. Lost jobs, lost taxes, increased public assistance, no medical insurance for any workers.
Second option, refuse to buy health insurance and pay the tax of $2,000 a year per employee. This will of course reduce the company revenue, thus preventing any additional hiring or growth. And it does not provide health insurance for anyone.
The third option is most likely what most small businesses will end up doing - shut down, go out of business. Lost jobs, lost taxes, no health insurance.
Given the current limitless increases that health insurance providers are levying, it is almost inconceivable that ANY small business will be able to obey this law and remain solvent. It is just not possible.
We are effectively shutting down or downsizing small businesses. Instead of increasing hiring, we are encouraging layoffs. Instead of increasing tax revenue through increased payrolls, we are not only losing taxes but also increasing unemployment and its associated costs. Instead of providing hard working Americans with health insurance, we are laying them off and driving them into social medical programs that encourage dependence on public assistance.
So in closing, if you currently have medical insurance, be very afraid for you may not be able to afford it for long. If you do NOT have medical insurance, don't expect to get it any time soon. If you have a job, you may not have one tomorrow. If you are looking for a job, it does not bode well for you. The only jobs left will be at large corporations, not even government jobs will be safe once the tax revenue dries up due to reduced payrolls. Large corporations, of course, prefer to "outsource" work to cheaper continents. Perhaps now is a good time to learn some new languages, the day is fast appearing when one will have to leave the US in order to find a job. Or afford to see a doctor.
Obama calls for improving small business climate
"President Obama cited small businesses as 'the primary drivers of job creation' and called on Congress, especially the GOP, to tackle a bill aimed at improving the climate for such enterprises.
...
There are signs the economy is improving, though. He said August saw 67,000 new private sector jobs created, while official July numbers indicated 107,000 jobs were created. In contrast, the latest unemployment numbers show joblessness rose from 9.5 percent to 9.6 percent last month."
Oh please, what utter twaddle. Things are NOT improving, a drop of 40,000 new jobs in a month is the opposite of improvement. And a 9.5 or 9.6 percent unemployment rate is definitely not a sign of improvement.
However, let us give credit to President Obama for recognizing that small businesses are the backbone of our economy. Recognizing the obvious, that is indeed high praise for a politician. Solving the problem however, appears to be beyond the capabilities of the current leadership in Washington.
First, this Congress gave us the bank bailout. Billions and billions of tax dollars were doled out to the banks. Objective: spread the money as loans and funding to encourage small business growth and thus improve the economy and create jobs.
Implementation: zero checks and balances.
Result: top bank executives give themselves obscenely large bonuses, small businesses got absolutely nothing.
Congress claims victory and goes on to throw even more money at car manufacturers, who so far, have not quite been able to produce a car that they can sell in a country that has more cars per household than most other nations on this planet. Outstanding performance from Washington thus far.
And now we have a new healthcare bill. Yet another misguided legislative blunder. With a pricetag of nearly one TRILLION dollars. We don't do things on a small scale, why stop at wasting a Billion dollars when we can just as easy throw away a Trillion dollars.
Based on a noble sentiment, this law is absolutely misguided and lacks commonsense. Yes, this country has far too many medically uninsured individuals and families. However the quality of healthcare in the US is among the best in the world. What is the problem then? In a nutshell, we have the best medical care that money can buy, that unfortunately costs too much. The concept of health insurance is two-fold; first, the financial risk is spread out across a group, and second, the insurance company is able to negotiate volume discounts for their members. Without legislative control over what the health insurance companies can do, what we have ended up with is this; doctors receive a mere pittance for preventive and routine medical care for the insured patients, which forces them to charge cash customers up to ten times the fee just to break even. Doctors are essentially running a business, between salaries to nurses/assistants/office staff, rents, supplies, and most of all malpractice insurance - what a typical General Practitioner earns each year is laughable given the amount of time and education they have to invest into their work.
Now we have this new healthcare bill, a law that forces all employers with 50 or more employees to offer health insurance to their workers, or pay a $2,000 a year fine per employee. Yet it puts no restrictions on the health insurance companies whatsoever. I happen to be in one of the first lucky (not!) small businesses that are now discovering the true nature of this absurd law. My company's health insurance policy renews each year and we just received the new rates. Our health insurance premium has a 79% increase, yes, it has almost DOUBLED in just this first year of the new healthcare law!
What are employers to do if their insurance premiums are going to shoot up each year, without any limits?
And this is WHY this new healthcare law will affect YOUR job.
First option for the small business, layoff staff to get below the 50 employee cap. Lost jobs, lost taxes, increased public assistance, no medical insurance for any workers.
Second option, refuse to buy health insurance and pay the tax of $2,000 a year per employee. This will of course reduce the company revenue, thus preventing any additional hiring or growth. And it does not provide health insurance for anyone.
The third option is most likely what most small businesses will end up doing - shut down, go out of business. Lost jobs, lost taxes, no health insurance.
Given the current limitless increases that health insurance providers are levying, it is almost inconceivable that ANY small business will be able to obey this law and remain solvent. It is just not possible.
We are effectively shutting down or downsizing small businesses. Instead of increasing hiring, we are encouraging layoffs. Instead of increasing tax revenue through increased payrolls, we are not only losing taxes but also increasing unemployment and its associated costs. Instead of providing hard working Americans with health insurance, we are laying them off and driving them into social medical programs that encourage dependence on public assistance.
So in closing, if you currently have medical insurance, be very afraid for you may not be able to afford it for long. If you do NOT have medical insurance, don't expect to get it any time soon. If you have a job, you may not have one tomorrow. If you are looking for a job, it does not bode well for you. The only jobs left will be at large corporations, not even government jobs will be safe once the tax revenue dries up due to reduced payrolls. Large corporations, of course, prefer to "outsource" work to cheaper continents. Perhaps now is a good time to learn some new languages, the day is fast appearing when one will have to leave the US in order to find a job. Or afford to see a doctor.
Saturday, August 7, 2010
Companies hire at slow pace for 3rd straight month
"The Associated Press: Companies hire at slow pace for 3rd straight month:
Companies showed a lack of confidence about hiring for a third straight month in July, making it likely the economy will grow more slowly the rest of the year. The unemployment rate was unchanged at 9.5 percent.
Private employers added a net total of only 71,000 jobs in July, far below the 200,000 or more jobs needed each month to reduce the unemployment rate.
The modest gains were even weaker when considering a loss of government jobs at the local, state and federal levels in July that weren't temporary census positions. Factoring those in, the net gains were only 12,000 jobs, according to the Labor Department's July report Friday."
Month after month, the Labor Dept. takes us on this rollercoaster of 'jobs' 'no jobs'. The good news, the unemployment rate did not go up. The bad news, the unemployment rate did not go down. Now even the Government seems to be getting in on the action of "losing jobs", granted that most States are nearly bankrupt, but its still an atrocious bit of news. What kind of an example is Uncle Sam setting by laying off its own employees? Jobs = taxes; NO jobs = NO taxes; a simple enough formula that no one in DC seems to have a grasp on.
Companies showed a lack of confidence about hiring for a third straight month in July, making it likely the economy will grow more slowly the rest of the year. The unemployment rate was unchanged at 9.5 percent.
Private employers added a net total of only 71,000 jobs in July, far below the 200,000 or more jobs needed each month to reduce the unemployment rate.
The modest gains were even weaker when considering a loss of government jobs at the local, state and federal levels in July that weren't temporary census positions. Factoring those in, the net gains were only 12,000 jobs, according to the Labor Department's July report Friday."
Month after month, the Labor Dept. takes us on this rollercoaster of 'jobs' 'no jobs'. The good news, the unemployment rate did not go up. The bad news, the unemployment rate did not go down. Now even the Government seems to be getting in on the action of "losing jobs", granted that most States are nearly bankrupt, but its still an atrocious bit of news. What kind of an example is Uncle Sam setting by laying off its own employees? Jobs = taxes; NO jobs = NO taxes; a simple enough formula that no one in DC seems to have a grasp on.
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