Biden: November jobs report 'disappointing'

[The Northerner]

WASHINGTON – Vice President Joe Biden says a weak November jobs report is "disappointing" and a sign that the economic recovery is fragile.

Biden says the uptick in the jobless rate to 9.8 percent means it is critical that Congress extend unemployment benefits before the end of the year. He also urged the Senate to follow the House in voting to continue tax cuts for the middle class.

Biden spoke before being briefed by Treasury Secretary Timothy Geithner and budget director Jacob Lew on the negotiations surrounding those tax cuts. A deal to extend the tax cuts for all taxpayers is starting to take shape, although it is not clear how quickly it might come together.

The White House is seeking to expand the tax package to include other measures, including extending unemployment insurance.

Source: http://news.yahoo.com/s/ap/20101203/ap_on_bi_ge/us_biden_economy_1

[NightWatcher]

1. how can anyone be honestly surprised that the economy and unemployment are still in the shitter?

What has changed that would signal that things are getting better? Corporations are making huge profits by shipping jobs overseas and exploiting their domestic employees to get them to do more for less, while at the same time posting record cash on hand numbers. They are not going to hire more people because they dont HAVE to yet.

The only way things will change is when the people have money to start buying more goods/services that originate domestically. Then when the suppliers see increased demand, they will have to hire more workers.... This is middle school economics. When my company gets too busy, I'll hire more people to help out. Those people will then put money back into the economy and we'll grow again.

[NRaleighLiberal]

2. Exactly. Right now the only way the numbers will look better

will be the result of more people giving up, (false/"official") reduction of the denominator. we are in a very nasty cycle at the moment...cycling in the wrong direction.

[Lucinda]

3. I'm glad he's saying this publicly. n/t

[MrTriumph]

4. Hey, O, phone India and tell 'em to send us more jobs, pronto!

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