Unemployement up again.

It’s now 6.3%, a 15 year high.

The jobless rate was up 1.9 percentage points from 4.4 percent in August 2007. And the number of payroll jobs fell 0.9 of one percent and some 310,683 unemployed Georgians are looking for work.

For the seventh month in a row, the state rate is above the national rate, which was 6.1 percent in August.

24 comments

  1. I don’t understand why the Lord Most Merciful Obama won’t do something about this. I mean, the earth starting healing and the oceans receded when he clinched the nomination. WHY WON’T HE HELP US?

  2. Decaturguy says:

    I don’t know Buzz. With as much as you guys worship at the alter of the all mighty Sara Palin, you would think that she would be able to do something about it.

  3. Doug Deal says:

    Buzz,

    I agree, all he has to do is outlaw unemployment.

    On another note, I wonder what portion of that extra 1% of unemployed over full employment is a result of firings with the increase in the minimum wage.

  4. Decaturguy says:

    I wonder what portion of that extra 1% of unemployed over full employment is a result of firings with the increase in the minimum wage.

    Uhh … none. The only thing that’s keeping the rate from being 10% are people who used to make $20-$30/hour jobs, working minimum wage or near miniumum wage jobs and not being technically unemployed.

  5. Tekneek says:

    Seems doubtful that many people lost their jobs due to the rise in minimum wage. A useful question to pose, but without any evidence to support that position we can only assume it has been a non-factor.

  6. umustbekidding says:

    Obama says he will “create” jobs. I guess everyone will be working for the government if he’s elected, so no more unemployment.
    As for those of us now providing jobs, we will be taxed out of business.

  7. odinseye2k says:

    Well, you can create jobs either by building bombs or by building and repairing physical infrastructure that severely needs it. Common infrastructure like broadband Internet, fundamental (namely pre-competitive) research into science and technology that can be picked up by entrepreneurs (who, by the way, can’t take up the deep risks of tech development until it reaches a certain level of maturity) and a rebuild of the electrical grid in such a way that we can harness this country’s own *real* energy sources.

    And that infrastructure is not simple make-work, because it forms a physical capital that can be drawn upon to enhance productivity in other sectors.

  8. odinseye2k says:

    Also, umustbekidding, for my own enlightenment –

    What sector is your business in? And congrats on keeping it running.

  9. Decaturguy says:

    You forgot the footnote to cite that reference. Was it not included in todays memo?

    Unlike you guys, Doug, I don’t sit around and get my talking points from Sean Hannity every day. I know you hero worship him like you do Sara Palin, but have an original thought man.

  10. Bill Simon says:

    Hey now, let’s not forget that some of the unemployed were laid-off from the AJC. That was an issue of Al Gore’s Internets changing how information was communicated, NOT due to the GOP.

  11. umustbekidding says:

    We are in the automotive business.
    I can’t wait until Obama cuts those “capital gains taxes” for small business. hahahaha

  12. Redcatcher says:

    Decaturguy,
    The hike in the mim wage was not for the little guy. The whole thing was tied to union contracts and how the hike in min wage will automatically give union workers a raise. Its election season and the Dem have congress. Get real. Everything coming out of Washington is done for a political reason and if you don’t realized that by now then you are hopeless.

  13. John Konop says:

    This is the same point I made when I ran for office. This is one reason why unemployment is up and real wages are down. We are all paying for the free lunch policy supported by many in both parties.

    I am all for deregulation but not when the tax payers are on the hook!

    Washington Crdit Crisis

    USATODAY-About the only beneficial part of Wall Street’s meltdown is that it has moved the presidential campaign away from discussion of pigs, pit bulls and lipstick.

    In the past couple of days, Sens. Barack Obama and John McCain have turned their attention back to the economy, though more to point fingers of blame than to suggest credible responses. McCain aims at greedy, irresponsible Wall Street executives and says he’ll create a commission to study how to fix the system. Obama argues that the mismanagement began in Washington with a fiscal and regulatory environment created by President Bush and supported by McCain.

    Truth is, both parties share blame for Wall Street’s turmoil. Republican faith in deregulation and unfettered markets led it to ignore inevitable excesses. Democrats pushed for expanded homeownership, even if it meant loaning money to people who couldn’t pay it back. Both ignored loud warnings that they were acting irresponsibly.

    So far, neither presidential candidate has done much more than sweep the financial crisis into his campaign narrative. Perhaps more important, neither has used the credit crisis on Wall Street to address the massively larger, though slower moving, credit crisis in Washington, as the federal government continues to run up unconscionable short-term deficits while ignoring its staggering long-term liabilities.

    Both parties, like their standard-bearers, readily acknowledge the problem. But neither candidate will level with the American people about the choices they face.

    Instead, McCain, who once had a credible record on fiscal matters, says he’ll extend tax cuts and veto tax increases without proposing major spending cuts. He ignores the fact that today’s politics of irresponsibility stem directly from Republicans’ three-decade habit doing exactly that. Obama also favors tax cuts, for all but the wealthy, and proposes an array of costly spending programs. On balancing the budget, he is simply out to lunch.

    They and other candidates display the same denial so evident on Wall Street. They offer no answers for the growing risk to the U.S. government from rising health and retirement costs. Their silence tells voters they need not make tough choices.

    On one level, this is just the sad state of politics. If one candidate offers credible but unpleasant solutions, the other responds with free-lunch fantasies that voters lap up.

    That has to change. For now, the government is busy putting out financial fires. But very soon it will have to turn to its own balance sheet. To use Wall Street parlance, it is time to “de-leverage.” Because when the government needs a bailout, there’ll be no place else to turn.

  14. Icarus says:

    These numbers are going to get worse before they get better.

    -Delta is the state’s largest private employer. They’re doing well to keep their head above water, but the pay cuts over the last few years have had a definite effect on businesses throughout metro atlanta, specifically on the southside.

    -The financial industry is cutting jobs faster than any these days, and we are still a regional center for a lot of these.

    -Construction, which has also propped up the local economy, not coming back anytime soon.

    -Ford and GM, gone.

    So just with those, take the pilots, mechanics, UAW members, realtors, mortgage originators, bubba F-250 driving contractors, and back room bankers, and figure the money they’re not spending at Georgia businesses. There’s more to come.

    On a brighter note, every study I’m looking at still says that we’re the region that is poised for top job growth, so we won’t suffer as much as most, and have a decent future to look forward to.

    It just won’t always be pretty getting there.

  15. MediaGuyAtl says:

    I know Boortz always screams about this, but this IS linked to the minimum wage being raised. It was proved in the past and now the past is coming back to haunt us. Hammer small business and help the Union fat cats. Plus, coupled with the financial crisis it’s the perfect economic storm.

    Small business owners are getting slammed right now, and here comes Obama who wants to raise taxes on folks who make 250k or more, small business is the engine of our economy and it’s scary to think what will happen next!

    One thing for sure the finger pointing in Washington should stop and someone better think of ways to stop the bleeding. Pelosi is certainly showing her financial intelligence with her saying democrats had nothing to do with this. John McCain said both parties are to blame, Bush tried in 2003 and no one listened and then McCain tried in 2005, with other lawmakers, and they were thwarted. Enough with the partisan blame game. I wonder if this is the time that the Fair Tax should be debated again..

  16. Decaturguy says:

    Obama will create a job for every American. I recall another charismatic leader who did the same thing. His name was Hitler.

    Nice. Your depseration about this campaign and McCain’s falling poll numbers could not be more apparent.

  17. “Nice. Your depseration about this campaign and McCain’s falling poll numbers could not be more apparent.”

    Actually it was a poor attempt at sarcasm. I honestly do not care enough about McCain to vote for him, same with Obama. I guess I’m desperate for real change then, eh?

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