What's your forecast for the job market?

correct me if I'm wrong, but to compare today's UE rate to 1982...isn't that like comparing an apple to an orange?? I believe the 1982 UE rate is more like using the U6 rate of today?? which the REAL rate would be over 17%.

The employment situation will not recover for many years.  Along with the other factors at play, this is where corporations get the benefit of globalization and employees pay the price.  Obama is right, we will have to build new industries.

Ex T man

You think that Obama is right? What new industries do you think will be built? Oh yeah-green jobs, huh?

Maybe more Kool-Aid factories for people like you.

We can take all the coal miners and power plant workers and make them into wind mill fabricators.

Forecast for the job market? In a word. Horrble, simply horrible. This country is doing absolutely nothing to enhance it's image as a place to set up shop. Take Wisconsin for instance, it seems that state has declared all out war on business. You should see the new tax hikes in the budget for that state. It's obscene. No one in their right mind would set up shop there. The same goes for the country. Yes, some businesses are build plants here, but the fact is more are leaving than coming. What to do? In a nutshell you have to build an environment that views business/industry as a positive rather than a negative. This current hate-the-rich CEO's of business/industry has done nothing more than foster an image that the US doesn't want companies/business/industry to be here. You can't advertise it's fair to take a majority of what a company earns and spreading it out among those you think deserve it and expect business to come here, it doesn't work that way. Yes lowering the corporate tax rate would help but it's not the fix all. We need to paint a picture of the US as having open arms wanting business and follow through with it. We can't keep up thisconstant hate-those-greedy CEO's BS and expect companies/industry/business to want to be here. Save the blaming and smart azz remarks. I'm simply trying to put forth an idea, you can take it or leave it but at least I'm being civil...

Only a small percentage of Jobs lost to Lay-Offs will be Replaced as there are Less & Less Jobs Available to the Increasing Unemployed workforce. MORE Jobless = LESS JOBS!!!!!!!!

Obama is going to eliminate 6 million jobs in the oil & gas industry. That'll fix those evil SOBs.

I voted yes to be facetious. It is very unlikely the employment situation will improve soon.

I am very optimistic that the savings rate is growing. It is also a great time to consider starting a business. According to research performed by CIO magazine in a recent issue, many of the fortune 100 businesses were started during market downturns.

With a growing savings rate that will hopefully be followed by under consumption, i.e. payoff of debts and buying less goods, thus realizing a real savings rate; this capital can be invested productively in creating new businesses. Retail needs to shrink and we need to create real production that'll put a dent in our lopsided trade, this will ultimately lead to job growth and a higher standard of living in our country.

Until there is the political will in Washington to put American first, we aren't going to be able to dig out of this recession in a hurry. The politicians take care of themselves first and those that contribute to their election coffers second. High time there was a lobby called We The People for a change..... I'm all for capitalism but to allow the banks and Wall Street to get away with this mess that they have created is shameful. Until bu 201(k) is a 4011(k) again, I'm not buying ANY big-ticket items. So my Explorer is four years old, so what? Better that I keep my money - and trust me we're going to need it to pay all those extra taxes Obama & Co are going to hit us with.....

I don't see the turn around,..or should I say, "settle down" for at least 2 more years. Obama has ALOT of corporate garbage he has to clean up. Our country has one of the highest standards of living in the world, but that will not last if the demise of the middle class continues. For some reason our model of success is tainted by the belief that government should provide "corporate entitlements" and hope it trickles down to the rest of the workers. We frown on "giveaways". Yet we have done nothing by give away our jobs for the sake of corporate profits. People who DID work, corporate America feels were paid too much. They defended those cuts of benefits and pay for the "corporate good". Now that those jobs are gone, and those "overpaid" workers have less money, there is also less money to buy corporate America's goods and services. The disturbing thing is that corporate big wigs will see the benefit from a turn around. The top 1% cannot and will not be the answer to this country's turn around. The sooner all of those "capitalists" and "conservatives" realize that the initiatives they have been given aren't going to stimulate the economy if most of the money from the turn around lines their pockets the better. It will be a matter of time before it falls apart again! America's corpoate managers are paid much better than other countries, and we need to understand that rewarding a manager is one thing, but stealing from shareholders and employees is another.

I think that every member of the federal governement should have to give up one days pay a week. It wouldn't hurt the rich, fat elites, but it might make them think of all us normal people that can't vote for our own raises and spend other peoples money like it was growing on trees! And if healthcare needs reform, any bill they pass should make the congress and president use that healthcare, not the free, anything you want care we pay for them now!!

I think MOST of the companies that are slashing jobs, are using this slow time as an excuse to hord more money for themselves. A lot of companies jump on the bandwagon and cry that they are losing money, when really they are doing quite well. Makes me glad that I run my own business and have only 1 employee..... ME. I gave up on corporate America, they are to greedy.

I can remember years ago when they told them that this global trade would not work and what it would do in the years to come. It was all true. If you go to the store look for what is made in the usa. Not much one or two things. If we use it we should make it. I am scard for my children's future.

I am just disgusted by the way the county has been run up to this point. We have had so many so called for the people in our goverment, but they have just been for themselves. Now that they have totally screwed up the ecomony they look to the people, that built thier wealth, to pull them out. But the wealthy corporations still get billions from taxpayer money and still will not do the right thing. Obama inherited so many years of problems that have come to a head and now threaten the American way of life. I am praying for him everyday that God gives him the guidance in which to bring us all through this. Hopefully we as a nation have learned a valuable lesson.

OK, no jobs, taxes going up, states going bankrupt and fighting over the most stupid legislation I ever heard of. Save the jobs of the State Workers and let all others suffer with no jobs, no housing and no ability to rejuvenate. What a wonderful country this is and now I see that we want to let illegal immigrants get SS benefits. Great! I am so disenfranchised and disappointed in this country. I have seen many families forced to move, become homeless and use all their savings for what? So that our government can waste time with petty bills, procedures and protocol. Our gov't officials should work only for the essentials in life. Shelter, food and public transportation. then lets see how many would stick around. I am tired of padding their pockets with special interest money, lobbying perks and parties, working two hours a day and spending months on "recess". Last I knew recess was for elementary school and that is where it should stay.

Teal R

Great! I am so disenfranchised and disappointed in this country.

And you should be as the financial elite who rule this nation also want to rule the world and couldn't give a damn about you, me or anyone else. Nothing that Obama does will change things. Both parties have been bought decades ago on this matter. "God Bless America" was the old mantra only to be substituted by "Profit Uber Alles"! America has become one big crooked corporation where the super-rich use it to make unlimited amounts of money and return nothing back!

I think we are in a depression, not a recession. It's time to call it what it is. Things all started going south after we committed massive amounts to that sinkhole known as the Iraq War. Add in CEOs feeling emboldened over that same time period by conservative Republican domination of the federal government to stuff their bloated pocketbooks even more at the expense of the majority of Americans and you have 1929 all over again.

We have had the same kind of idiotic "leadership" under Bush II that we had under Calvin Coolidge and we are right back where we were 70 years ago. The rich have made out like bandits in recent years while the middle class struggles more and more. My husband is a computer programmer who was laid off five months ago and my work is tenuous right now. There is not one job to be had anywhere here. We are in our early 50s and are basically losing EVERYTHING we own. At our age, a recovery a couple of years from now will be too little too late.

I want the pain to be shared by ALL -- I want people with mansions and yachts to lose everything they have too. Leveling the playing field again is the only way we will be able to come fully out of this God-awful mess. Greed and selfishness is our society's sin of choice. We should ALL have to pay for it!

Washington continues to show a complete disregard for sound financial management. Try telling your debt holders that you will spend your way out of debt and try not to feel to laughed at. America voted for a man without experience and his lack of wisdom and poor work ethic are showing.

Anyone with an 11 year cocaine addiction will have problems. "Yes We Can" screw up the US even more than Bush did.

Until government shrinks we do not have a prayer. Truman tried to spend the US out of the depression and it made it last 3 times longer.

Fiscal responsibility is the only way out. And what about extending unemployment? I would only cost billions and the money goes to the less fortunate unlike the rich man's bailout that only goes to rich people. They got trillions can't we spare billions for the less fortunate?

I am truly amazed, that no one mentions - the alternate unemployment figure for June 2009..? The Department of Labor-own Bureau of Labor Statistics BLS -shows in its July 2, 2009 report unemployment at 16.5% - here is the link below:

Based on the civilian labor force (Census) of 155 Million- means 25.5 Million are unemployed. Yet, there is not a single economics writer-that points to these REAl statistics - which include among others- people whose unemployment benefits- in the DOL unemployment rate they do not show up anymore- yet, since still being unemployed- they show up in the BLS statistics; like those unemployed having lost a job, yet never filed for benfits, and part-timers;

In addition, for more than 12 weeks - new weekly unemployment filings-exceeded 600,000 and that by itself is terribel.Yet Wall St- tries to put a silver lining on same. After all- always putting a positive spion on things might sell stocks and thus they get commissions, but not the other way around.

It is time- every one mentions the reality unemployment rate. not fictional one.

What did economist Milton Friedman say: "The way the DOL tabulates monthly unemployment figures is antiquated and a Neanderthal way of reaching the unemployment rate ( calling the same 60,000 household each month) would we have another rate ? by calling a different set of 60,000 households..?

Michael

here is the link:

Sorry pasting the link-evidently does not allow showing the link.

check-search under: alternate unemployment U-6 tables- BLS- Bureau of Labor Statistics