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SATURDAY, NOVEMBER 7, 2009
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 ANALYSIS 
4

Bleak Jobs Report Raises Red Flags on Recovery

Weak labor market expected to cause longer recession

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(Newser) – So much for those so-called green shoots of recovery. Yesterday's worse-than-expected unemployment report has far more red flags of warning on the jobs front, writes Moira Herbst in BusinessWeek. Among them: the average work week shrank to 33 hours, the lowest on record; hourly earnings remained flat; long-term unemployment rose to an all-time high; and temp workers, an important harbinger, took a big hit.

The shrinking pay packets are causing continued pessimism among consumers, leading many to expect a downturn that will last well into next year. The head of one employment firm believes the report shows the recession will be U-shaped rather than V-shaped. "We're bouncing along at the bottom of the U," he says. "The question is, when do we start making an upturn, and how much momentum does it have?"

Brochures and business cards are shown at a job fair in San Jose, Calif. last week.
Brochures and business cards are shown at a job fair in San Jose, Calif. last week.   (AP Photo/Paul Sakuma)
An job seeker, right, talks with a staffer at a job workshop in San Jose, Calif., last week.
An job seeker, right, talks with a staffer at a job workshop in San Jose, Calif., last week.   (AP Photo/Paul Sakuma)
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(The) Labor Dept. report again indicates how the recovery continues to elude the job market. The jobs recession has reached extreme levels.
- Christine Owens, executive director of the National Employment Law Project

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4 comments
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emiliukas
Jul 3, 09 7:22 AM CDT
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DeniseVB
Jul 3, 09 10:11 AM CDT
I flagged emiliukas because I've seen this comment on almost every newser item I've read this morning :( No offense to the poor families from Lithuania.....but this is spam, plain and simple. Reply
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mickey61988
Jul 3, 09 10:48 AM CDT
I agree
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Reader2795
Jul 7, 09 10:01 AM CDT
One will have to asked the question on timeline of the U, lets see started 2006 on left upper end, at left end bottom 2009 stays on bottom horizontal till 2012, makes upward move 2013 to 2016. That's 10 years, so much for a fast recovery. Declare the economy bankrupt, all civil contracts and government contracts have to be modified to move the lines to a shorter time frame. Reply
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ANALYSIS

US GDP Jump Hollow if Unemployment Keeps Rising

... and it's still rising faster than before recession

Oct 29, 09 8:07 PM CDT
(Newser) - News that the US gross domestic product jumped 3.5% in the third quarter cheered investors and others, but the cheers will ring hollow if unemployment keeps rising, John Authers writes. Consumer spending rose even as disposable income fell—“ not a pattern that can be sustained for long, and... More »

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