The latest job numbers are out -- and they're not good.

[Jeffersons Ghost]

That's a phrase we've heard a lot lately -- and will likely continue to hear for the foreseeable future. According to the Bureau of Labor Statistics, while the unemployment rate remained unchanged at 9.5 percent, the economy actually lost another 131,000 jobs in July. The only reason the unemployment rate didn't go up was because so many people had quit looking and dropped out of the workforce. Tens of thousands of people throwing in the towel is definitely not good news. More "not good news": the number of Americans unemployed for 26 weeks or more is now over 6.5 million.

Clearly, we're not in the middle of a normal recovery. Wall Street may have its casino up and running again, but Main Street shows no signs of bouncing back anytime soon. From foreclosures to unemployment to household debt to bankruptcies, the American middle class is under assault -- and America is in danger of becoming a Third World nation.

http://www.huffingtonpost.com/arianna-huffington/third-world-america-chron_b_676474.html

[YOY]

1. Damn that PROFESSIONAL LEFT!!!

n/t

[Jeffersons Ghost]

2. could be another pro left conspiracy

[fogonthelake]

3. Its like a recurring bad dream--month after month after....

[jefferson_dem]

5. Actually, this is like a bad dream...

because this piece is about the July numbers which we've already engaged in substantial hand-wringing about.

...not that we shouldn't do it again if it serves to further our cause.

[xchrom]

4. Were they 'surprised'? Nt

[quinnox]

6. Ain't looking good for the Dems

November is gonna be painful, then we will hear all the excuses and blaming the left for losing. It will be everyones fault except for Obama and the Dem party.

[HughBeaumont]

7. Corporate America wants Republicans back in the White House.

IOW, gatekeepers who will lower, or better yet, eliminate their taxes . . . so they can hoard and have it all. OH yeah, and still not hire us. Like they ever had any intention to?

Methinks the American worker's ship has sailed. They're just not telling us it has. They're also not telling us that we all will likely be working until we die. We cost them too much. We're getting to be too big a piece of that pie they want all to themselves.

I don't mean to sound so bleak, but the wealthy (and their Republican/NeoLib friends in D.C.) just straight fucked us and we're blaming the absolute wrong people for all of this. They're laughing long and hard at our asses. Their plan worked wonders. I'm guilty also. I have nothing economically in common with your average TeaHadist; they still want to blame Democrats and high taxes, just like they're conditioned to.

This really is all the fault of Corporate America and the rich that run it. It's ALL THEIR FAULT and yet nobody fucking blames them. No one outside of this board even dares to point the finger at them. If they did, it's not likely you'll see it happen anyway; all we'll see is more Oath Klux Klan/Ron Paul/TeaDoucher bullshit with photoshopped Obama signs. "Republican politicians are great, la la la, kept you safe for 7 years, la la la, we told you so, la la la."

Fucking bullshit.

They own everything. The politicians, Congress, churches, entertainment, media, military. Their slimy ubiquitous stamp is on EVERYthing. They dictate national policy. They let you know if your disease will be cured. They have your lives by the short hairs. We're one of the least free nations on earth because of them.

This isn't going to continue. It's not going to sustain. It's obvious to me that they don't care about cutting our buying power, because there's no need for us to buy anymore. They have a billion consumers overseas - what do they need us for?

Is anyone going to stop being afraid and start physically DOING something about this?

[OmahaBlueDog]

8. You've got a few things going on

- A lot of tax-strapped states, counties, and cities have been laying off this summer
- Census jobs ended
- I don't think the summer building season took off as had been hoped in the spring
- Now that we're in August, a lot of seasonal employers are starting to lay off
- Laid off older workers are saying "screw it" and retiring

I do see anecdotal positive signs.
- Machining and fabrication facilities that I visit say business isn't good, but not nearly as bad as last year.
- I see some "now hiring" at fast food and retail
- I do see some new busineses opening up in formerly vacated spaces

Coming Attractions:
- Seasonal holiday hiring starts in about 8 weeks.
- We'll all be told the economy will fall off a cliff if we don't extend the Bush tax cuts.

If I were graduating college, I think I might wait two years and go get a masters or a law degree.

[golddigger]

9. Well, that was unexpected.

:sarcasm: