Major Economic Down Turn

In advance of this morning’s release of the latest national unemployment number by the US Department of Labor, word leaked out of the other Washington late Thursday afternoon (10/1) according to my sources. FOX news has released a summary. These disastrous numbers may have been leaked to prominent Democrats in Washington State including Governor Gregoire and Snohomish County Executive Aaron Reardon. Sources tell me that it hit them like a sledge hammer! Why? Because the local unemployment numbers for Washington State and Snohomish County scheduled to be out by 10/15 may show the state’s economy is in the worst condition it has been in since 1933. August numbers were bad enough, but September numbers are going to have political impact. As I wrote in a previous piece, our Governor appears to be hiding in a bunker! Can you blame her?

Here is a run down of the latest unemployment numbers:

9.8% unemployment that’s the U3 number or 15.1 million now collecting unemployment nationwide.

17% real unemployment is the U6 number or 26.2 million now unemployed and more than 7% of them have given up finding a job

263,000 Job losses in September

Service sector job losses were a shock at 147,000 and 64,000 construction layoffs were completely UNEXPECTED.

All of this bad economic news comes on the heels of widespread criticism of Aaron Reardon’s ridiculous PR machine as he holds a ‘healthcare meeting’ in Lynnwood. His so-called summit in May was a big bust. Here is the e-mail Aaron’s PR machine sent out:

"TRANSFORMING HEALTH CARE

Tuesday, October 13, 2009
8 a.m. - Noon
Lynnwood Convention Center
3711 196th Street S.W., Lynnwood

Snohomish County Executive Aaron Reardon, Mary McWilliams, Executive Director, Puget Sound Health Alliance and distinguished members of the medical professional and business community in a dialogue of how health care is being transformed right here, right now in the Puget Sound Region."

One Seattle Time Reporter I talked to was incredulous after reading the above announcement and said: “Aaron Reardon appears to be over his head here!” I put it to the reader: What is Reardon doing here spending tax payer money on a healthcare summit with about 70,000 people out of work in Snohomish County?

Editor’s note: I will have a major story and a complete analysis of the statewide and local unemployment numbers as soon as I have them. Here is the August report: Link. I have a reporter that will be attending Aaron Reardon’s healthcare meeting and I will give you a complete report during the week of 10/15.