Rising Oil Prices, Unemployment, Stock Markets, and Hope

Oil jumps above $52 on stock market gains

NEW YORK (AP) — Oil prices surged nearly 8 percent Thursday as investors shrugged off a jump in unemployment and focused instead on rising stock markets and the hope that the U.S. economy has finally bottomed out.

Forget rising oil prices and rising unemployment. Focus instead on the rising stock markets and hope. Meanwhile, I'll continue to sit over here on the sidelines.

In other news, my girlfriend was laid off today from a recession-resistant not-for-profit healthcare provider today.

March 31, 2009
Spokane Shriners hospital may close

Providence Health Care, which employs some 8,400 people in the Spokane area, said recently it may lay off employees at its Eastern Washington hospitals as the number of unpaid medical bills climbs and budget projections worsen.

...

Hospitals are beginning to see the aftershocks of rising unemployment, which is 9.7 percent in Spokane County. As the number of jobless increases, so does the number of uninsured patients.

April 3, 2008
Recession Resistant Jobs

So, it's not surprising that healthcare is considered one of the most recession resistant industries. According to the Bureau of Labor Statistics, more than half of the 30 fastest growing jobs are in medical fields.

Any thoughts on what a depression-resistant job might be? I'd like to be able to offer my girlfriend some of this hope that's become so popular lately.

And lastly, I can't seem to resist the joke. They say it is a recession when others lose their jobs but a depression when you lose yours.

Welcome to the Depression.