Time For Go-Go Juice! - Unemployment Rises as America Rebounds? You Be the Judge...

Good morning to all my readers. Take a good sip of your Go-Go Juice – I read two conflicting articles this morning about how America is on the rebound yet the unemployment significantly jumped up with new jobless claims. Yahoo posted an article by Newsweek how cover story author, Daniel Gross points out the factors to show the upward climb. His facts point to how the U.S. economy has gone from shrinking at a 6.4 percent annual rate in the first quarter of 2009 to growing at a rate of 5.9 percent at the end of the year; how the Dow Jones Industrial Average rebounded by 70% off the bottom; how 162,000 jobs were created in March; and how productivity rose by 5.8% in the fourth quarter of 2009 when compared to the 4Q in 2008. Now if you look at Associated Press who posted an article titled Jobless Claims Rise for a Second Straight Week by Jeannine Aversa stating that the new jobless claims summed up to a combined 42,000 new requests in the first two weeks (I’m guessing in March). The number of people continuing to draw unemployment benefits moved higher. They rose to 4.64 million, from 4.57 million. No doubt parts of our economy is seeing a small rebound, but until the unemployed get back into jobs, the benefits of unemployment will not greatly impact the economy as benefits are barely enough to cover basic living costs, let alone ring the cash registers of various businesses. And, while there is a rise in new unemployment claims, there are thousands if not millions of people coming off the unemployment from reaching the end of their extensions, who still don’t have jobs. Those who aren’t drawing a paycheck, who have lost their unemployment, will only have their local non-profit organizations to turn to for financial help in maintaining basic living costs. But, those types of agencies have suffered as well from this economy with new reports of budget cuts and used up grants. So, when the help stops, how is that going to affect our economy? I’ll tell you – it’s going to hurt, not encourage. I understand that media, whether in TV news or magazines hope to find some economist to bring “hope” to our ongoing suffrage, however, I hope it doesn’t compromise the realities that individuals and families do have a very long road to pave with hard work and sweat to find a means to getting employed. Well, for me, I’m adding an extra dose to my Go-Go Juice as I turn up the energy to drive that long road. So my friends keep your eyes peeled with hands on the wheel. Good luck in your endeavors and keep that Go-Go Juice flowing! Have a great day.