Average Americans Getting Poorer
- Thread starter smurphy
- Start date
funny thing is wasn't much over a year ago the media was comlaining about values of homes raising out of site---you can find dark cloud in every silver lining if you look.
House prices skyrocket bad for new home buyer
house prices go down--bad for for home owner
The only home owners feeling crunch or those taking out home equity loans--
point 2 if house values raise 30% in 5 years they have to be cut 30% which they haven't just to get back to 2002 values.
a stroll back--and would do search to see if by chance any of the pessimist ranting here had any
cheering post few years ago when they were at all time highs--but I think I already know the answer
http://money.cnn.com/2006/10/03/news/economy/housing_costs/index.htm
Renters and homeowners paying more than 30% of income on housing jumps; median prices up 32% nationwide.October 9 2006: 10:55 AM EDT
NEW YORK (CNNMoney.com) -- American families are paying an increasingly large portion of their incomes for housing, putting a squeeze on household budgets, according to a survey published Tuesday by the Census Bureau.
In 2005, 34.5 percent of homeowners with a mortgage were paying 30 percent or more of their gross income on housing costs, according to Census Bureau's American Community Survey - a level that is widely seen as a limit of affordability. That's up from 26.6 percent in 2000.
Nearly 46 percent of all renters last year were paying 30 percent or more of their gross income on housing, according to the survey.
The New York Times, in an analysis of data from the Census Bureau, reported earlier Tuesday that the burden of housing costs in nearly every part of the country grew sharply from 2000 to 2005.
What the same home costs in 342 markets - state by state rankings.
For example, Southern California suburb Temecula had 74 percent of renters paying at least 30 percent of income on housing, while another suburb in the region, Hemet, was second nationwide with 73 percent paying that level.
And there are places where renters and home owners are paying well above that level.
The paper reports that Boulder, Colorado 47 percent of renters spending at least 50 percent of income on housing, while College Station, Tex., had 46 percent spending at least half their earnings on housing.
The paper said there were many areas that saw big jumps in families spending at least 30 percent of income on housing. It said the biggest jump was Olathe, Kan., a suburb of 114,000 southwest of Kansas City, although the paper did not cite the precise statistics there.
Other areas that saw a big jump in those at or over the 30 percent level included Wyoming, Mich.; Round Rock, Tex.; and Plymouth, Minn., according to the paper.
And it wasn't just booming middle-income areas seeing renters and home owners being stretched. Florence-Graham, California, an unincorporated area southeast of Los Angeles where more than a third of residents live in poverty, had 43 percent of renters paying at least 30 percent of income in rent, according to the paper, up from 17 percent in 2000.
While many of the increases cited by the paper were for renters, it also gave some examples of home owners whose budgets were being stretched.
In Clifton, N.J., the percentage of mortgage holders spending at least 50 percent of their income on housing rose to 27 percent in 2005 from 12 percent in 2000, the paper reported, while in New Britain, Conn., mortgage holders paying at least 30 percent of income rose to 57 percent from 27 percent in 2000.
"Housing prices have gone up much more than incomes have," Christopher Jones, vice president for research at the Regional Plan Association in New York, told the paper. "Clearly, you can't sustain that sort of imbalance over the long run. There's only so long that housing prices can go up without sustained increases in income to support them."
Nationwide, median home values jumped by 32 percent between 2000 and 2005, according to the survey, with San Diego experiencing a 127.2 percent increase, the largest jump in home values among cities with 65,000 or more residents.
Los Angeles and New York homes experienced similar percentage increases, climbing 110.2 percent and 79.1 percent respectively.
Some smaller towns experienced similar increases, including Boynton Beach, Fla., where median home prices rose 120.3 percent.
The data was collected throughout 2005, and the housing market has softened considerably so far this year.
Last month the National Association of Realtors reported the first year-over-year decline in median home prices in more than 11 years in August, and a separate Census Bureau report also reported a drop in new home prices on that basis.
Leading home builders, such as Pulte Homes (Charts), Centex (Charts), Lennar (Charts), KB Home (Charts), Toll Brothers (Charts) and Hovnanian Enterprises (Charts), have all reported softer earnings outlook due to weaker pricing in the market.
But those price declines so far have been narrow, less than 2 percent from year-ago levels, after several years of strong housing price increases.
House prices skyrocket bad for new home buyer
house prices go down--bad for for home owner
The only home owners feeling crunch or those taking out home equity loans--
point 2 if house values raise 30% in 5 years they have to be cut 30% which they haven't just to get back to 2002 values.
a stroll back--and would do search to see if by chance any of the pessimist ranting here had any
cheering post few years ago when they were at all time highs--but I think I already know the answer
http://money.cnn.com/2006/10/03/news/economy/housing_costs/index.htm
Renters and homeowners paying more than 30% of income on housing jumps; median prices up 32% nationwide.October 9 2006: 10:55 AM EDT
NEW YORK (CNNMoney.com) -- American families are paying an increasingly large portion of their incomes for housing, putting a squeeze on household budgets, according to a survey published Tuesday by the Census Bureau.
In 2005, 34.5 percent of homeowners with a mortgage were paying 30 percent or more of their gross income on housing costs, according to Census Bureau's American Community Survey - a level that is widely seen as a limit of affordability. That's up from 26.6 percent in 2000.
Nearly 46 percent of all renters last year were paying 30 percent or more of their gross income on housing, according to the survey.
The New York Times, in an analysis of data from the Census Bureau, reported earlier Tuesday that the burden of housing costs in nearly every part of the country grew sharply from 2000 to 2005.
What the same home costs in 342 markets - state by state rankings.
For example, Southern California suburb Temecula had 74 percent of renters paying at least 30 percent of income on housing, while another suburb in the region, Hemet, was second nationwide with 73 percent paying that level.
And there are places where renters and home owners are paying well above that level.
The paper reports that Boulder, Colorado 47 percent of renters spending at least 50 percent of income on housing, while College Station, Tex., had 46 percent spending at least half their earnings on housing.
The paper said there were many areas that saw big jumps in families spending at least 30 percent of income on housing. It said the biggest jump was Olathe, Kan., a suburb of 114,000 southwest of Kansas City, although the paper did not cite the precise statistics there.
Other areas that saw a big jump in those at or over the 30 percent level included Wyoming, Mich.; Round Rock, Tex.; and Plymouth, Minn., according to the paper.
And it wasn't just booming middle-income areas seeing renters and home owners being stretched. Florence-Graham, California, an unincorporated area southeast of Los Angeles where more than a third of residents live in poverty, had 43 percent of renters paying at least 30 percent of income in rent, according to the paper, up from 17 percent in 2000.
While many of the increases cited by the paper were for renters, it also gave some examples of home owners whose budgets were being stretched.
In Clifton, N.J., the percentage of mortgage holders spending at least 50 percent of their income on housing rose to 27 percent in 2005 from 12 percent in 2000, the paper reported, while in New Britain, Conn., mortgage holders paying at least 30 percent of income rose to 57 percent from 27 percent in 2000.
"Housing prices have gone up much more than incomes have," Christopher Jones, vice president for research at the Regional Plan Association in New York, told the paper. "Clearly, you can't sustain that sort of imbalance over the long run. There's only so long that housing prices can go up without sustained increases in income to support them."
Nationwide, median home values jumped by 32 percent between 2000 and 2005, according to the survey, with San Diego experiencing a 127.2 percent increase, the largest jump in home values among cities with 65,000 or more residents.
Los Angeles and New York homes experienced similar percentage increases, climbing 110.2 percent and 79.1 percent respectively.
Some smaller towns experienced similar increases, including Boynton Beach, Fla., where median home prices rose 120.3 percent.
The data was collected throughout 2005, and the housing market has softened considerably so far this year.
Last month the National Association of Realtors reported the first year-over-year decline in median home prices in more than 11 years in August, and a separate Census Bureau report also reported a drop in new home prices on that basis.
Leading home builders, such as Pulte Homes (Charts), Centex (Charts), Lennar (Charts), KB Home (Charts), Toll Brothers (Charts) and Hovnanian Enterprises (Charts), have all reported softer earnings outlook due to weaker pricing in the market.
But those price declines so far have been narrow, less than 2 percent from year-ago levels, after several years of strong housing price increases.
---and a trip back to 2000 on gas prices--
from 2000---
Gas prices surging, but still below record levels
The cost of gasoline in the United States went up a record 12 cents per gallon during the past two weeks
Factor in inflation, cost still lower than 1981
March 14, 2000
WASHINGTON -- Gas prices have surged in the past 12 months, experiencing their biggest dollar increase in the past 30 years, according to a survey conducted for AAA.
Self-serve regular, unleaded gasoline averaged $1.54 per gallon nationwide, according to AAA's March Fuel Gauge Report released Tuesday.
---------------------------------------------------------------
$1.54 seems cheap now but remember oil was $27 a barrell--4 times that now but gas only 2 times higher--somehow I feel fortunate :shrug:
from 2000---
Gas prices surging, but still below record levels
The cost of gasoline in the United States went up a record 12 cents per gallon during the past two weeks
Factor in inflation, cost still lower than 1981
March 14, 2000
WASHINGTON -- Gas prices have surged in the past 12 months, experiencing their biggest dollar increase in the past 30 years, according to a survey conducted for AAA.
Self-serve regular, unleaded gasoline averaged $1.54 per gallon nationwide, according to AAA's March Fuel Gauge Report released Tuesday.
---------------------------------------------------------------
$1.54 seems cheap now but remember oil was $27 a barrell--4 times that now but gas only 2 times higher--somehow I feel fortunate :shrug:
Actually, you are WRONG:
http://www.reuters.com/article/reutersComService_3_MOLT/idUSL2736008020080228
Thu Feb 28, 2008 2:41pm EST
(Reuters) - U.S. oil surged to a new inflation-adjusted record high on Thursday, surpassing the previous record of $102.53 set in 1980, according to the International Energy Agency.
I'm pretty concerned about the way we keep dropping the interest rate to try and keep investors happy. The dollar is getting hammered and it's really taking a toll on essentials.
http://www.marketwatch.com/news/sto...x?guid={2843F399-6FE8-4D21-B154-ED8491D76715}
Crude ends slightly lower after hitting $106.54
Weak dollar, jobs data play into market; futures post weekly gain of 3.3%
By Moming Zhou & Nick Godt, MarketWatch
Last update: 4:03 p.m. EST March 7, 2008
Print E-mail RSS Disable Live Quotes
SAN FRANCISCO (MarketWatch) -- Crude-oil futures closed slightly lower on Friday after hitting a new record high of $106.54 a barrel earlier in the session, as the greenback fell anew, increasing attractions of dollar-denominated commodities to buyers holding other currencies.
The new record came even after data showed the largest drop in U.S. payrolls in five years, indicating the world's largest oil consumer could be falling into a recession.
Crude oil for April delivery gained more than $1 to an intraday high of $106.54 a barrel on the New York Mercantile Exchange in late morning trading. But it ended down 32 cents, or 0.3%, at $105.15. Futures still ended the week up $3.31, or 3.3%.
The dollar dropped to a new low against the euro Friday as the euro hit $1.5463. A weaker dollar makes dollar-denominated commodities, such as oil, less expensive for buyers holding other currencies. Those buyers tend to bid up prices. See Currencies.
The odds of the Federal Reserve cutting interest rates by 75 basis points to 2.25% jumped on Friday to 96%, futures trading on the Chicago Board of Trade showed. Further rate cuts would put more downward pressure on the dollar, because they erode the returns on dollar-denominated assets.
"The Fed's rate cuts are going to cheapen the dollar and push up oil prices," said Daniel Flynn, a trader at futures brokerage Alaron Trading. "Crude's next stop is $110."
Crude earlier dropped to an intraday low of $103.91 on jobs data. In the clearest suggestion of a recession, U.S. nonfarm payrolls fell by 63,000 in February, the second straight decline, the Labor Department reported Friday. It was the largest drop in payrolls since March 2003, when the economy was struggling through a jobless recovery. See Economic Report.
The drop was unexpected. Economists were looking for a gain of about 20,000 in the survey of business establishments.
"This will confirm for some that fears have been lurking in the financial markets in recent weeks, that recession is looming," said Michael Fitzpatrick, an analyst at futures brokerage MF Global, in a research note. "This has apparently convinced some participants to close out some" buying positions.
But crude turned positive in late morning trading and made a new record high as the impact of the weaker dollar overtook the jobs data as the major factor affecting the oil market.
"Still, the market has also shown remarkable resilience to negative news with price dips so far attracting fresh buying interest," said Fitzpatrick. "This buy the dips mentality may continue to prop up prices as long as the dollar keeps trending lower."
The market has seen unusual climbs in crude prices recently, although most economic news is indicating a U.S. recession. On Wednesday, oil rallied $5, the biggest daily gain in value since crude futures started trading on the Nymex in 1983. Crude has been up nearly $20 in less than one month.
Also on Nymex on Friday, April reformulated gasoline gained 4.11 cents to $2.6943 a gallon and April heating oil fell 2.63 cents to $2.947 a gallon.
April natural gas was last seen up 3.8 cents at $9.78 per million British thermal units.
U.S. natural-gas inventories fell for a 15th week, down 135 billion cubic feet in the week ended Feb. 29, the Energy Information Administration reported on Thursday. Natural-gas inventories have fallen more than 2,000 cubic feet since mid-November.
http://www.marketwatch.com/news/sto...x?guid={2843F399-6FE8-4D21-B154-ED8491D76715}
Crude ends slightly lower after hitting $106.54
Weak dollar, jobs data play into market; futures post weekly gain of 3.3%
By Moming Zhou & Nick Godt, MarketWatch
Last update: 4:03 p.m. EST March 7, 2008
Print E-mail RSS Disable Live Quotes
SAN FRANCISCO (MarketWatch) -- Crude-oil futures closed slightly lower on Friday after hitting a new record high of $106.54 a barrel earlier in the session, as the greenback fell anew, increasing attractions of dollar-denominated commodities to buyers holding other currencies.
The new record came even after data showed the largest drop in U.S. payrolls in five years, indicating the world's largest oil consumer could be falling into a recession.
Crude oil for April delivery gained more than $1 to an intraday high of $106.54 a barrel on the New York Mercantile Exchange in late morning trading. But it ended down 32 cents, or 0.3%, at $105.15. Futures still ended the week up $3.31, or 3.3%.
The dollar dropped to a new low against the euro Friday as the euro hit $1.5463. A weaker dollar makes dollar-denominated commodities, such as oil, less expensive for buyers holding other currencies. Those buyers tend to bid up prices. See Currencies.
The odds of the Federal Reserve cutting interest rates by 75 basis points to 2.25% jumped on Friday to 96%, futures trading on the Chicago Board of Trade showed. Further rate cuts would put more downward pressure on the dollar, because they erode the returns on dollar-denominated assets.
"The Fed's rate cuts are going to cheapen the dollar and push up oil prices," said Daniel Flynn, a trader at futures brokerage Alaron Trading. "Crude's next stop is $110."
Crude earlier dropped to an intraday low of $103.91 on jobs data. In the clearest suggestion of a recession, U.S. nonfarm payrolls fell by 63,000 in February, the second straight decline, the Labor Department reported Friday. It was the largest drop in payrolls since March 2003, when the economy was struggling through a jobless recovery. See Economic Report.
The drop was unexpected. Economists were looking for a gain of about 20,000 in the survey of business establishments.
"This will confirm for some that fears have been lurking in the financial markets in recent weeks, that recession is looming," said Michael Fitzpatrick, an analyst at futures brokerage MF Global, in a research note. "This has apparently convinced some participants to close out some" buying positions.
But crude turned positive in late morning trading and made a new record high as the impact of the weaker dollar overtook the jobs data as the major factor affecting the oil market.
"Still, the market has also shown remarkable resilience to negative news with price dips so far attracting fresh buying interest," said Fitzpatrick. "This buy the dips mentality may continue to prop up prices as long as the dollar keeps trending lower."
The market has seen unusual climbs in crude prices recently, although most economic news is indicating a U.S. recession. On Wednesday, oil rallied $5, the biggest daily gain in value since crude futures started trading on the Nymex in 1983. Crude has been up nearly $20 in less than one month.
Also on Nymex on Friday, April reformulated gasoline gained 4.11 cents to $2.6943 a gallon and April heating oil fell 2.63 cents to $2.947 a gallon.
April natural gas was last seen up 3.8 cents at $9.78 per million British thermal units.
U.S. natural-gas inventories fell for a 15th week, down 135 billion cubic feet in the week ended Feb. 29, the Energy Information Administration reported on Thursday. Natural-gas inventories have fallen more than 2,000 cubic feet since mid-November.
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Our Russian/Ukranian employees have enjoyed a 30% decrease in pay due to the devalued dollar.
My partners and I discuss this at least weekly hoping that we can make arrangements with our current employees to keep them interested in our employment. Luckily, there has been no pressure applied, yet, but it is a concern that we have. There's zero way fo us to compensate for this out of the company's coffers. It's just not there right now.
My partners and I discuss this at least weekly hoping that we can make arrangements with our current employees to keep them interested in our employment. Luckily, there has been no pressure applied, yet, but it is a concern that we have. There's zero way fo us to compensate for this out of the company's coffers. It's just not there right now.
what do you mean it's not there, where is it ? If I took a 30% hit, I'd ditch your ass. DTB , help this guy out, show him where the money is...
where is the silver lining here ?
where is the silver lining here ?
http://www.msnbc.msn.com/id/23518599
where is the silver lining here ?
http://www.msnbc.msn.com/id/23518599
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Depends apon how you want to view it Bryanz--
When looking through your eyes from your liberal sources msnbc--you are led to look at what they want you to see in their big bold headlines per your link--
Employers slash jobs by most in 5 years
Sounds scary for the glass half empty crowd--
Being a glass half full guy--such headlines are useless unless you know unemployment rates of last 5 years--and considering
A:October 2007 Marked Record 50th Consecutive Month of Job Growth
I would think--hmm any drop at all would trigger those headlines--so look further--
B: the actual #'s
THE EMPLOYMENT SITUATION: FEBRUARY 2008
Nonfarm payroll employment edged down in February (-63,000), and the
unemployment rate was essentially unchanged at 4.8 percent, the Bureau of
Labor Statistics of the U.S. Department of Labor reported today. Employment
fell in manufacturing, construction, and retail trade. Job growth continued
in health care and in food services. Average hourly earnings rose by 5 cents,
or 0.3 percent, over the month.
Unemployment (Household Survey Data)
The number of unemployed persons (7.4 million) and the unemployment rate
(4.8 percent) were essentially unchanged in February. Over the month, the
unemployment rates for adult men (4.3 percent), adult women (4.2 percent),
teenagers (16.6 percent), whites (4.3 percent), and Hispanics (6.2 percent)
showed little or no change. The jobless rate for blacks fell to 8.3 percent,
in line with the average rate for 2007. The unemployment rate for Asians was
3.0 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)
Total Employment and the Labor Force (Household Survey Data)
Both the civilian labor force, at 153.4 million, and the labor force par-
ticipation rate, at 65.9 percent, declined in February. Total employment
(146.0 million) and the employment-population ratio (62.7 percent) were little
changed over the month. (See table A-1.)
Table A. Major indicators of labor market activity, seasonally adjusted
(Numbers in thousands)
---------------------------------------------------
The #'s tell me unemployment still hovering at 5% or below which is any admin would be happy with.
I do make note however that this was 2nd month of job loss --though minor and to note if trend continues.
--and you Bryanz--well appears you bit on headline--as doom and gloom--why?- because thats what glass half empty look for.
Do I like current market conditions--of course not-
but I look at bright side that exposure to losses in subprime market have been very limited--and am much more happy about the fact I learned from past mistakes and limited any losses--than concerned about negative returns for a month.
P.S. you might want to note highlighted area in case you want to question my views on Asians and others pecking order on cultural work ethics
When looking through your eyes from your liberal sources msnbc--you are led to look at what they want you to see in their big bold headlines per your link--
Employers slash jobs by most in 5 years
Sounds scary for the glass half empty crowd--
Being a glass half full guy--such headlines are useless unless you know unemployment rates of last 5 years--and considering
A:October 2007 Marked Record 50th Consecutive Month of Job Growth
I would think--hmm any drop at all would trigger those headlines--so look further--
B: the actual #'s
THE EMPLOYMENT SITUATION: FEBRUARY 2008
Nonfarm payroll employment edged down in February (-63,000), and the
unemployment rate was essentially unchanged at 4.8 percent, the Bureau of
Labor Statistics of the U.S. Department of Labor reported today. Employment
fell in manufacturing, construction, and retail trade. Job growth continued
in health care and in food services. Average hourly earnings rose by 5 cents,
or 0.3 percent, over the month.
Unemployment (Household Survey Data)
The number of unemployed persons (7.4 million) and the unemployment rate
(4.8 percent) were essentially unchanged in February. Over the month, the
unemployment rates for adult men (4.3 percent), adult women (4.2 percent),
teenagers (16.6 percent), whites (4.3 percent), and Hispanics (6.2 percent)
showed little or no change. The jobless rate for blacks fell to 8.3 percent,
in line with the average rate for 2007. The unemployment rate for Asians was
3.0 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)
Total Employment and the Labor Force (Household Survey Data)
Both the civilian labor force, at 153.4 million, and the labor force par-
ticipation rate, at 65.9 percent, declined in February. Total employment
(146.0 million) and the employment-population ratio (62.7 percent) were little
changed over the month. (See table A-1.)
Table A. Major indicators of labor market activity, seasonally adjusted
(Numbers in thousands)
---------------------------------------------------
The #'s tell me unemployment still hovering at 5% or below which is any admin would be happy with.
I do make note however that this was 2nd month of job loss --though minor and to note if trend continues.
--and you Bryanz--well appears you bit on headline--as doom and gloom--why?- because thats what glass half empty look for.
Do I like current market conditions--of course not-
but I look at bright side that exposure to losses in subprime market have been very limited--and am much more happy about the fact I learned from past mistakes and limited any losses--than concerned about negative returns for a month.
P.S. you might want to note highlighted area in case you want to question my views on Asians and others pecking order on cultural work ethics
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It's just not there. Unfortunately, that's the way it happens sometimes. eventually, we will have their compensation packages in Rubles or Grivni so their value won't change regardless of the strength (or weakness) of the dollar.
Those plans are currently underway. But really, they signed on for a job in US dollars. We are trying our best to compensate for the weakness. But, the flip side, would we be wrong to lower their pay in dollars if the dollar was extremely strong?
Tough situation, for sure.
yeah, but he will just ignore it. DTB throws out sourceless, bullshite stats and when they are proven false he just moves on to another thread.
rinse, wash, repeat.
rinse, wash, repeat.
Hate tell you this jabbers--but if $ went to all time low or all time high--there are going to be those that benefit and those that suffer--someone happy someone sad. There are ways we benefit from low $ believe it or not--such as record exports--which helps jobs--and there are negatives
I can tell you one thing for certain--if you are led like sheep--by media as above and don't look for the real picture--my advice would be to stay in real estate--which from what you say is your expertise.
Rental property good and safe investment. Had some in Destin few years back but found not my cup of tea. Insurance-taxes-associations fews were killers--plus always had endless forms to fill out.
Didn't have the real estate savvy nor the patience for it--however and correct me if I'm wrong--appeared to me thay had 2 set of rules-one for in state owners and one for out of state.
The homestead law there is quite a bonus-however.
I can tell you one thing for certain--if you are led like sheep--by media as above and don't look for the real picture--my advice would be to stay in real estate--which from what you say is your expertise.
Rental property good and safe investment. Had some in Destin few years back but found not my cup of tea. Insurance-taxes-associations fews were killers--plus always had endless forms to fill out.
Didn't have the real estate savvy nor the patience for it--however and correct me if I'm wrong--appeared to me thay had 2 set of rules-one for in state owners and one for out of state.
The homestead law there is quite a bonus-however.
Depends apon how you want to view it Bryanz--
When looking through your eyes from your liberal sources msnbc--you are led to look at what they want you to see in their big bold headlines per your link--
Employers slash jobs by most in 5 years
Sounds scary for the glass half empty crowd--
Being a glass half full guy--such headlines are useless unless you know unemployment rates of last 5 years--and considering
A:October 2007 Marked Record 50th Consecutive Month of Job Growth
I would think--hmm any drop at all would trigger those headlines--so look further--
B: the actual #'s
THE EMPLOYMENT SITUATION: FEBRUARY 2008
Nonfarm payroll employment edged down in February (-63,000), and the
unemployment rate was essentially unchanged at 4.8 percent, the Bureau of
Labor Statistics of the U.S. Department of Labor reported today. Employment
fell in manufacturing, construction, and retail trade. Job growth continued
in health care and in food services. Average hourly earnings rose by 5 cents,
or 0.3 percent, over the month.
Unemployment (Household Survey Data)
The number of unemployed persons (7.4 million) and the unemployment rate
(4.8 percent) were essentially unchanged in February. Over the month, the
unemployment rates for adult men (4.3 percent), adult women (4.2 percent),
teenagers (16.6 percent), whites (4.3 percent), and Hispanics (6.2 percent)
showed little or no change. The jobless rate for blacks fell to 8.3 percent,
in line with the average rate for 2007. The unemployment rate for Asians was
3.0 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)
Total Employment and the Labor Force (Household Survey Data)
Both the civilian labor force, at 153.4 million, and the labor force par-
ticipation rate, at 65.9 percent, declined in February. Total employment
(146.0 million) and the employment-population ratio (62.7 percent) were little
changed over the month. (See table A-1.)
Table A. Major indicators of labor market activity, seasonally adjusted
(Numbers in thousands)
---------------------------------------------------
The #'s tell me unemployment still hovering at 5% or below which is any admin would be happy with.
I do make note however that this was 2nd month of job loss --though minor and to note if trend continues.
--and you Bryanz--well appears you bit on headline--as doom and gloom--why?- because thats what glass half empty look for.
Do I like current market conditions--of course not-
but I look at bright side that exposure to losses in subprime market have been very limited--and am much more happy about the fact I learned from past mistakes and limited any losses--than concerned about negative returns for a month.
P.S. you might want to note highlighted area in case you want to question my views on Asians and others pecking order on cultural work ethics
This story was on my yahoo home page, for some reason the link wouldn't work. This is a assoc. press story, coverd by every source out there including fox business. I do see the glass 3/4's full most of the trime. If I didn't I couldn't have started a business 15 yrs ago and made it to this point. I talk to business owners every day and they are all saying the same things. The price of everything it takes to run things is up and cash flow for the average American is down. The reason I posted this, you seem to bring many yahoo links here, when I saw this story on my home page I knew you wouldn't be posting it. You spin everything. The cash index is the lowest since it started 5 yrs ago. There are many signals that I have not seen in 15 yrs. Is the sky falling ? No, but don't tell me not to see the obvious. http://www.foxnews.com/story/0,2933,335887,00.html
