Economy
- Thread starter kneifl
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True B --enough blame to go around for both parties--however that is what you get out of Jabbers post--but you had nothing to say on that--right?
-actually I was doing a little test--I read Jabbers post this morning and noticed the insanity had been up in general forum since yesterday and was wondering if opposing point of view could make it a day--
--and on your turn the page--
Wasn't it you who told us endlessly about O's intelligence and scholarly attributes--as proffesor of constitutional law?
You might want to send him back to school--as I've been seeing nothing for days from constitutional proffersors that say they have to seat Burris according to constitutional law--and what was your scolarly whiz's 1st remark on subject--
Obama said, "Senate Democrats made it clear weeks ago that they cannot accept an appointment made by a governor who is accused of selling this very Senate seat." DUH
yes, good post. I completely agree.
Cie, you are right. It was just a knee jerk reaction to the "god help us when OBama takes over" crap I keep hearing.
Marine, I work for Ceva Logistics and we are still hiring, but budgets are stretched. I just meant that people in the manufactoring sector that we serve are suffering and our numbers are definitely currently down. Glad to hear that business is good for you.
Guys I watched Cinderella Man DVD last night, IF you have not seen it, rent it, buy it, borrow it, as James J Braddock (Russell Crowe) said to a side-kick(co-worker) in the show, (to the effect of)
Fight, (fault)? who we gonna fight, Hoover, FDR, a drought, bad luck?
The point was lets get busy fixing things instead of pointing the blame!
No disrespect guys, but this is really what we need to do, fix this problem instead of finding fault.
Have you called your senator or congressman in the last 90 days? I have several times. Wish I didn't have the time to do so, but I too am unemployed.
Not the end of the world!
My Dad (he is 93 and 4/12ths years of age) has a story he tells from FEB 1933. Trust me we don't have it that bad yet and I hope we never do again.
But we got to get and stay busy fixing this thing. I don't all of the answers and the few I do have may be wrong but together we all can do it.
The State of Ohio's Dept of Job Services web site has been overrun and the staff for the phones is overloaded also. People cannot get in to file for unemployment. Now they are complaining they don't have time enough to wait on hold for someone to help them.
HAVE TIME????
Damn people I thought, you were working 40 hours a week now you are laid off and you don't have time to hold for an CSR? What is wrong with this picture?
The last time I was laid off it was for five months in 2001, and they had an office in every county seat of 88 counties in Ohio, now they depend on a computer and a regional staff to help.
The reduction of people sorting mail, answering the phone, waiting on the counter at customer service and the out-sourcing of jobs to India has accelerated the employment shortage to the state it is now. Remember just a couple of years ago the illegal immigrant dilemma and the response of our government,
Jobs nobody wants! :scared
No but as soon as our unemployment benefits run out we will change our mind :scared
OK I feel the soap box getting pulled on
:0corn
Fight, (fault)? who we gonna fight, Hoover, FDR, a drought, bad luck?
The point was lets get busy fixing things instead of pointing the blame!
No disrespect guys, but this is really what we need to do, fix this problem instead of finding fault.
Have you called your senator or congressman in the last 90 days? I have several times. Wish I didn't have the time to do so, but I too am unemployed.
Not the end of the world!
My Dad (he is 93 and 4/12ths years of age) has a story he tells from FEB 1933. Trust me we don't have it that bad yet and I hope we never do again.
But we got to get and stay busy fixing this thing. I don't all of the answers and the few I do have may be wrong but together we all can do it.
The State of Ohio's Dept of Job Services web site has been overrun and the staff for the phones is overloaded also. People cannot get in to file for unemployment. Now they are complaining they don't have time enough to wait on hold for someone to help them.
HAVE TIME????
Damn people I thought, you were working 40 hours a week now you are laid off and you don't have time to hold for an CSR? What is wrong with this picture?
The last time I was laid off it was for five months in 2001, and they had an office in every county seat of 88 counties in Ohio, now they depend on a computer and a regional staff to help.
The reduction of people sorting mail, answering the phone, waiting on the counter at customer service and the out-sourcing of jobs to India has accelerated the employment shortage to the state it is now. Remember just a couple of years ago the illegal immigrant dilemma and the response of our government,
Jobs nobody wants! :scared
No but as soon as our unemployment benefits run out we will change our mind :scared
OK I feel the soap box getting pulled on
:0corn
True B --enough blame to go around for both parties--however that is what you get out of Jabbers post--but you had nothing to say on that--right?
-actually I was doing a little test--I read Jabbers post this morning and noticed the insanity had been up in general forum since yesterday and was wondering if opposing point of view could make it a day--
--and on your turn the page--
Wasn't it you who told us endlessly about O's intelligence and scholarly attributes--as proffesor of constitutional law?
You might want to send him back to school--as I've been seeing nothing for days from constitutional proffersors that say they have to seat Burris according to constitutional law--and what was your scolarly whiz's 1st remark on subject--
Obama said, "Senate Democrats made it clear weeks ago that they cannot accept an appointment made by a governor who is accused of selling this very Senate seat." DUH
I could care less if they seat burris...if up to me they would not..... I think reid is a worthless hypocrite and seat him with bush & cheney.... I find it funny, the gov not only threw these ass holes a curve ball they can't hit but shows them for who they are.... Again; you don't see where I come from... I don't have a side in this fight ,a fight the American People can't win... I wasn't for Obama, I was against bush/cheney and their party..... I have voted republican before, when the right people were leading the way.... I had never voted for a dem for president.. If up to me, pelosi and reid would be done as we speak. Nothing disgust me more than bush/cheney, than pelosi & reid... WHAT'S THE DIFFERENCE ?
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Jobless rate jumps to 7.2 percent in Dec., highest since '93, as employers cut 524,000 jobs
WASHINGTON (AP) -- The nation's unemployment rate bolted to 7.2 percent in December, the highest level in 16 years, as nervous employers slashed 524,000 jobs, capping one of the worst years in modern history for American workers.
The Labor Department's report, released Friday, underscored the grim toll the deepening recession is having on workers and companies. And it highlights the difficulty President-elect Barack Obama faces in resuscitating the flat-lined economy. This year has gotten off to a rough start with a flurry of big corporate layoffs, pointing to another year of hefty job reductions.
For all of 2008, the economy lost a net total of 2.6 million jobs. That was the most since 1945, when nearly 2.8 million jobs were lost. Though the U.S. labor force has more than tripled since then, losses of this magnitude are still being painfully felt.
With employers throttling back hiring, the nation's jobless rate averaged 5.8 percent last year. That was up sharply from 4.6 percent in 2007 and was the highest since 2003.
While economists were forecasting even more payroll reductions in December -- around 550,000 -- job losses in both October and November turned out to be deeper than previously estimated. Revised figures showed employers slashed 584,000 positions in November and 423,000 in October.
The unemployment rate, meanwhile, rose from 6.8 percent in November, to 7.2 percent last month, the highest since January 1993. Economists were expecting the jobless rate to rise to 7 percent.
Losses were widespread in December. Construction companies slashed 101,000, and manufacturers axed a a whopping 149,000 jobs. Professional and business services got rid of 113,000 jobs. Retailers eliminated nearly 67,000 jobs, and leisure and hospitality reduced employment by 22,000. That more than swamped gains in education and health care, and the government.
All told, 11.1 million people were unemployed in December.
Employers are chopping costs as they try to cope with dwindling appetite from customers in the U.S. as well as in other countries, which are struggling with their own economic problems.
Not only are employers cutting jobs; they also are cutting workers' hours. The average work week in December fell to 33.3 hours, the lowest level on records dating to 1964.
And the number of people who work part time -- a category that includes those who would like to work full time but whose hours were cut back or those who were unable to find full-time work -- jumped to 8 million in December, from 7.3 million in November.
Workers with jobs saw modest wage gains.
Average hourly earnings rose to $18.36 in December, up 0.3 percent from the previous month. Economists were expecting a 0.2 percent increase. Over the year, wages have increased 3.7 percent, although high prices for energy and food earlier this year made people feel like their paychecks weren't stretching that far.
The U.S. recession, which just entered its second year, is already the longest in a quarter-century, and is likely to stretch well into this year. The fact that the country is battling a housing collapse, a lockup in lending and the worst financial crisis since the 1930s make the current downturn especially dangerous.
G&K Services Inc., which provides uniforms and facility services, on Friday said it is eliminating 460 jobs as it aims to trim costs amid weak demand. And late Thursday, Intermec Inc., which makes electronic devices for tracking inventory, said it plans to cut 150 jobs, or 7 percent of its work force.
Earlier this week, drugstore operator Walgreen Co., managed care provider Cigna Corp., aluminum producer Alcoa Inc., data-storage company EMC Corp. and computer products maker Logitech International all announced major layoffs to cope with the recession.
All the problems have forced consumers and companies alike to retrench, feeding into a vicious cycle that Washington policymakers are finding difficult to break.
Obama says a bold approach is needed to bust through this cycle and revive economy.
"I don't believe it's too late to change course, but it will be if we don't take dramatic action as soon as possible," he said Thursday.
"If nothing is done, this recession could linger," Obama warned. "The unemployment rate could reach double digits."
Obama, who takes over Jan. 20, is promoting a massive package of tax cuts and government spending that could total $775 billion over two years. With add-ons by lawmakers, the package could swell to $850 billion, his advisers say.
Even with a new government stimulus and the Federal Reserve's decision to ratchet down a key interest rate to an all-time low, the unemployment rate is expected to keep rising. Some economists think it could hit 9 or 10 percent at the end of this year.
WASHINGTON (AP) -- The nation's unemployment rate bolted to 7.2 percent in December, the highest level in 16 years, as nervous employers slashed 524,000 jobs, capping one of the worst years in modern history for American workers.
The Labor Department's report, released Friday, underscored the grim toll the deepening recession is having on workers and companies. And it highlights the difficulty President-elect Barack Obama faces in resuscitating the flat-lined economy. This year has gotten off to a rough start with a flurry of big corporate layoffs, pointing to another year of hefty job reductions.
For all of 2008, the economy lost a net total of 2.6 million jobs. That was the most since 1945, when nearly 2.8 million jobs were lost. Though the U.S. labor force has more than tripled since then, losses of this magnitude are still being painfully felt.
With employers throttling back hiring, the nation's jobless rate averaged 5.8 percent last year. That was up sharply from 4.6 percent in 2007 and was the highest since 2003.
While economists were forecasting even more payroll reductions in December -- around 550,000 -- job losses in both October and November turned out to be deeper than previously estimated. Revised figures showed employers slashed 584,000 positions in November and 423,000 in October.
The unemployment rate, meanwhile, rose from 6.8 percent in November, to 7.2 percent last month, the highest since January 1993. Economists were expecting the jobless rate to rise to 7 percent.
Losses were widespread in December. Construction companies slashed 101,000, and manufacturers axed a a whopping 149,000 jobs. Professional and business services got rid of 113,000 jobs. Retailers eliminated nearly 67,000 jobs, and leisure and hospitality reduced employment by 22,000. That more than swamped gains in education and health care, and the government.
All told, 11.1 million people were unemployed in December.
Employers are chopping costs as they try to cope with dwindling appetite from customers in the U.S. as well as in other countries, which are struggling with their own economic problems.
Not only are employers cutting jobs; they also are cutting workers' hours. The average work week in December fell to 33.3 hours, the lowest level on records dating to 1964.
And the number of people who work part time -- a category that includes those who would like to work full time but whose hours were cut back or those who were unable to find full-time work -- jumped to 8 million in December, from 7.3 million in November.
Workers with jobs saw modest wage gains.
Average hourly earnings rose to $18.36 in December, up 0.3 percent from the previous month. Economists were expecting a 0.2 percent increase. Over the year, wages have increased 3.7 percent, although high prices for energy and food earlier this year made people feel like their paychecks weren't stretching that far.
The U.S. recession, which just entered its second year, is already the longest in a quarter-century, and is likely to stretch well into this year. The fact that the country is battling a housing collapse, a lockup in lending and the worst financial crisis since the 1930s make the current downturn especially dangerous.
G&K Services Inc., which provides uniforms and facility services, on Friday said it is eliminating 460 jobs as it aims to trim costs amid weak demand. And late Thursday, Intermec Inc., which makes electronic devices for tracking inventory, said it plans to cut 150 jobs, or 7 percent of its work force.
Earlier this week, drugstore operator Walgreen Co., managed care provider Cigna Corp., aluminum producer Alcoa Inc., data-storage company EMC Corp. and computer products maker Logitech International all announced major layoffs to cope with the recession.
All the problems have forced consumers and companies alike to retrench, feeding into a vicious cycle that Washington policymakers are finding difficult to break.
Obama says a bold approach is needed to bust through this cycle and revive economy.
"I don't believe it's too late to change course, but it will be if we don't take dramatic action as soon as possible," he said Thursday.
"If nothing is done, this recession could linger," Obama warned. "The unemployment rate could reach double digits."
Obama, who takes over Jan. 20, is promoting a massive package of tax cuts and government spending that could total $775 billion over two years. With add-ons by lawmakers, the package could swell to $850 billion, his advisers say.
Even with a new government stimulus and the Federal Reserve's decision to ratchet down a key interest rate to an all-time low, the unemployment rate is expected to keep rising. Some economists think it could hit 9 or 10 percent at the end of this year.
Makes sense. Luxury items are just not selling right now. Was just curious since Anderson just made almost the exact same cuts and layoffs here.
Hey, Big Daddy, how's business at the bar these days? Hope all is well over there. I still have to stop by on one of my trips to Chicago some day.
Interview went great today. Decision to be made by Wednesday. I'm crossing my fingers. This economy sucks!!!
kneifl
kneifl
Cox sleeping on the job. Who hell put him in that job? Tax cut that went to those who needed it the least. That meant it was not getting spent. And fighting two wars on credit. You could see it coming 6 years ago when so few new jobs were being brought on line. A banking system lying about funds and money supply. And helping make a false stock market that could not help but die.
Job lost not done yet. Another 750000 to 1 million more can easly happen.
Job lost not done yet. Another 750000 to 1 million more can easly happen.
I read somewhere that during the Clinton Administration 21 million new jobs were created. Under GW's watch: 3 million.
Now I dont' know what fiscal policy Clinton followed. I was dumbfounded about 6 years ago where it seemed everyone was driving a new Yukon, Escallade or Denali had a brand-new 350,000 home and looked to be all of 25 years old. In the locale I saw all of this occuring the job market was non-existent. No layoffs, but there was nowhere within a 100-mile radius that could sustain that sort of thing. The real-estate bubble and the loan crisis explains much of it.
In the end I get the feeling that all of these stimulus packages and bailouts are just preventing the ineveitable. Keep printing that fake money and eventually the dollar will be worth pennies or less IMHO. I cringe I think of hyperinflation and what is yet to come. I pray for all of those that lost jobs, homes and the like. I could very easily be next. It is scary reading all of the companies that have laid off. I read a layoff tracker recently and it was like a who's who of companies.
Could some of this just be trimming of excess fat, or a true market correction? I realize that all layoffs are trimming fat, but what generated such high levels of business to sustain some of these ridiculous organizational structues??? I know some of it was just an extened honeymoon of living beyond our means, but I have always wondered where some businesses kept steady streams of income coming from, especially a lot of construction and special-service types.
What happens to the U.S. when foreign investors call all of the loans? Will The Russians and Chinese own this country in broad-daylight rather than from a distance? What next??? I saw where Peter Schiff has predicted a lot of civil unrest. Does anyone think it is out of the question to see a 20% unemployment rate before things turn around? A true 20% not all of the economic bs about the willing unemployed and other classifications that could skew numbers? How much longer can this nation function with over 40% of citizens not paying any federal income tax and many continuing to vampire federal and state services. It pisses me off to no end to see government and society continually 'rewarding' irresponsibility and laziness. A person making 15 dollars an hour has a much lower standard of living than a welfare receipient or a person making 9 dollars an hour that also receives welfare and foodstamps due to the tax structure and non-taxable benefits that the other side receives. WTF???
I always loved going to the grocery store and standing behind a welfare family with a cart full of 'good' groceries and I was deciding whether to pay my electric bill or eat that week.
What will it take to turn this around? I think the 'good ol days' are done--at least for a very, very long time. Our country is slipping because the sense of entitlement has permeated to the very core and we have become softer than a MAC conference football team as a whole. America was founded on vision, spirit and people willing to do whatever it took to survive. Our survival instincts are dead here. Where is the accountability? Rewarding the lazy or the unpoliced corruption within our government is finally running out of dirt to cover the holes.
Now I dont' know what fiscal policy Clinton followed. I was dumbfounded about 6 years ago where it seemed everyone was driving a new Yukon, Escallade or Denali had a brand-new 350,000 home and looked to be all of 25 years old. In the locale I saw all of this occuring the job market was non-existent. No layoffs, but there was nowhere within a 100-mile radius that could sustain that sort of thing. The real-estate bubble and the loan crisis explains much of it.
In the end I get the feeling that all of these stimulus packages and bailouts are just preventing the ineveitable. Keep printing that fake money and eventually the dollar will be worth pennies or less IMHO. I cringe I think of hyperinflation and what is yet to come. I pray for all of those that lost jobs, homes and the like. I could very easily be next. It is scary reading all of the companies that have laid off. I read a layoff tracker recently and it was like a who's who of companies.
Could some of this just be trimming of excess fat, or a true market correction? I realize that all layoffs are trimming fat, but what generated such high levels of business to sustain some of these ridiculous organizational structues??? I know some of it was just an extened honeymoon of living beyond our means, but I have always wondered where some businesses kept steady streams of income coming from, especially a lot of construction and special-service types.
What happens to the U.S. when foreign investors call all of the loans? Will The Russians and Chinese own this country in broad-daylight rather than from a distance? What next??? I saw where Peter Schiff has predicted a lot of civil unrest. Does anyone think it is out of the question to see a 20% unemployment rate before things turn around? A true 20% not all of the economic bs about the willing unemployed and other classifications that could skew numbers? How much longer can this nation function with over 40% of citizens not paying any federal income tax and many continuing to vampire federal and state services. It pisses me off to no end to see government and society continually 'rewarding' irresponsibility and laziness. A person making 15 dollars an hour has a much lower standard of living than a welfare receipient or a person making 9 dollars an hour that also receives welfare and foodstamps due to the tax structure and non-taxable benefits that the other side receives. WTF???
I always loved going to the grocery store and standing behind a welfare family with a cart full of 'good' groceries and I was deciding whether to pay my electric bill or eat that week.
What will it take to turn this around? I think the 'good ol days' are done--at least for a very, very long time. Our country is slipping because the sense of entitlement has permeated to the very core and we have become softer than a MAC conference football team as a whole. America was founded on vision, spirit and people willing to do whatever it took to survive. Our survival instincts are dead here. Where is the accountability? Rewarding the lazy or the unpoliced corruption within our government is finally running out of dirt to cover the holes.
you know... I'm really not liking my job now, and it seems to suck more and more all the time. I just need to suck it up and be thankful that I make decent money and that I'm very marketable; I don't see how this country will ever not need nurses.
I know a lot of people that are hurting, and there are several on this forum. Hopefully there's an upturn soon!
I know a lot of people that are hurting, and there are several on this forum. Hopefully there's an upturn soon!
That contradicts what I see every day. I manage a Receiving Dock and a department that picks and ships Service Parts. Carriers are cutting drivers hours (local routes), DHL doesn't even take domestic shipments (or deliver from domestic obviously), and my top 2 carriers on the Receiving Dock are telling me that they are closing terminals across the country. What part of the supply chain are you in where business is booming to the point that there is a demand for more help than normal?
Also: We just laid off 10% of the hourly workforce Wednesday. Salary cuts are coming and I'd bet my next paycheck that we will be laying off more hourly. The initial 10% number smells like a "good faith" lay off and they'll do some more cuts once they start analyzing each production area. Good times.
Good luck to you Josh.
For what it's worth, the best job search book I know of is "What Color is Your Parachute?". Great read with lots of info about how to go about your search and how to put yourself in a position to get hired.
As someone who has interviewed plenty of people, the one thing that always impresses me is when someone is prepared for the questions that are almost guaranteed to be asked in an interview....it's not hard to separate the prepared guy from the bullshitter. Bullshitters tell me what I want to hear, prepared people answer the question and reference examples from their previous experiences.
Kneifl:
I hope it works out for you. Sales would be one of the last fields I would be in right now, not at all meant to be derogatory, just scary!
http://news.yahoo.com/s/ap/20090110/ap_on_bi_ge/small_business_squeeze
This article feels like a sobering, broken record. What is Obama's plan really going to accomplish? It feels like a gambler in debt borrowing money from a loan-shark and ponying up with another one to chase the losses to me. I understand some of the infrastructure definitely needs to be redone. But what happens when those jobs complete? I am convinced that the real money supply is gone, but when does Uncle Sam's line of credit finally dry up?
Woe be to all us poor suckers pay social security...
I hope it works out for you. Sales would be one of the last fields I would be in right now, not at all meant to be derogatory, just scary!
http://news.yahoo.com/s/ap/20090110/ap_on_bi_ge/small_business_squeeze
This article feels like a sobering, broken record. What is Obama's plan really going to accomplish? It feels like a gambler in debt borrowing money from a loan-shark and ponying up with another one to chase the losses to me. I understand some of the infrastructure definitely needs to be redone. But what happens when those jobs complete? I am convinced that the real money supply is gone, but when does Uncle Sam's line of credit finally dry up?
Woe be to all us poor suckers pay social security...
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