Job Loss Still Rising

The Associated Press on line reported on Sept 5 2008 the unemployment rate is higher than the economic experts expected. Yep, Employers slashed 84,000 jobs in August as we hit a 6.1 five year high in unemployment. A financial toll is effecting our economy as the housing, credit and financial crises worsen. The employment deterioration tumbled all major stock indexes on Thursday. Yet I do not recall hearing anything of it on any of the news stations or the local news.

In fact, the number 84,000 does not seem to add up to the list of jobs that were loss in the government's Labor Department Report. In the report the lists include: "Factories cut 61,000 jobs, construction firms eliminated 8,000 jobs, retailers axed 20,000 slots, professional and business services slashed 53,000 positions and leisure and hospitality got rid of 4,000." You do the math.

Now also in the same news article in the Associated Press: "Job losses at all private employers -- not including government -- came to 101,000 in August." It seems we just keep getting higher figures in the reporting, yet the government report have the number lowered.