Economy LOST 283,000 jobs during 'Recovery Summer'

CR250Rider
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CR250Rider
Edited Date/Time 1/27/2012 1:28am
UNEMPLOYMENT CLIMBS TO 9.6%
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WhKnuckle
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WhKnuckle 9/3/2010 6:54am
9/3/2010 6:54am
Private sector added jobs every month, it was government jobs that went away. I thought that's what you guys wanted? You should make up your minds.
flarider
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flarider 9/3/2010 7:05am
9/3/2010 7:05am
WhKnuckle wrote:
Private sector added jobs every month, it was government jobs that went away. I thought that's what you guys wanted? You should make up your minds.
Correct
Private sector jobs increased

Read all of the reports, not just the headlines and talking points
flarider
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flarider 9/3/2010 7:09am
9/3/2010 7:09am
Also don't forget this...

Both June and July's hiring figures were revised to show the private sector created more jobs in both months. The July figures were revised upward to 107,000 from 71,000. June was revised upward to 61,000 from 31,000. The revisions reflected smaller losses in construction, temporary help services and non-census government jobs.



borg
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borg 9/3/2010 7:09am
9/3/2010 7:09am
Government losses were mostly census workers. The private sector gained about 67,000 which is better than losing jobs but is still way behind the break even number of 150,000. To keep up with new people entering the workforce and to re employ the unemployed will require a gain of 250,000 to 300,000, private sector jobs per month for a several years. Not going to happen. Unless something like the dot com boom or another real estate bubble happens, we are stuck with high unemployment. There is really nothing that government can do about it either except fringe tinkering. If they were honest they would admit it and go about the business of getting their own balance sheet in order.

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flarider
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flarider 9/3/2010 7:12am
9/3/2010 7:12am
borg wrote:
Government losses were mostly census workers. The private sector gained about 67,000 which is better than losing jobs but is still way behind the break even...
Government losses were mostly census workers. The private sector gained about 67,000 which is better than losing jobs but is still way behind the break even number of 150,000. To keep up with new people entering the workforce and to re employ the unemployed will require a gain of 250,000 to 300,000, private sector jobs per month for a several years. Not going to happen. Unless something like the dot com boom or another real estate bubble happens, we are stuck with high unemployment. There is really nothing that government can do about it either except fringe tinkering. If they were honest they would admit it and go about the business of getting their own balance sheet in order.
Agreed that while there is private sector growth, it's still too slow and it's still not enough, but it is still growth.

Too many people want to focus on the negativity in an attempt to besmirch this Administration, while ignoring any good news, facts or figures
borg
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borg 9/3/2010 7:18am
9/3/2010 7:18am
flarider wrote:
Agreed that while there is private sector growth, it's still too slow and it's still not enough, but it is still growth. Too many people want...
Agreed that while there is private sector growth, it's still too slow and it's still not enough, but it is still growth.

Too many people want to focus on the negativity in an attempt to besmirch this Administration, while ignoring any good news, facts or figures
It's election season so nobody is telling the truth. However, "Recovery Summer" will rank right up there with "Mission Accomplished" for the team players. You wonder why they say stupid shit like that but then again they are competing for the hearts and minds of an ignorant electorate. When Boehner says something stupid, some Democrat has to respond in kind. It's just the way it is.
wired4speed 9/3/2010 7:43am
9/3/2010 7:43am
flarider wrote:
Agreed that while there is private sector growth, it's still too slow and it's still not enough, but it is still growth. Too many people want...
Agreed that while there is private sector growth, it's still too slow and it's still not enough, but it is still growth.

Too many people want to focus on the negativity in an attempt to besmirch this Administration, while ignoring any good news, facts or figures
I'll give Obama this. The housing "bust" just happened on his tour of duty. In fact, this "bust" is the best thing to happen in a long time. A Mark McGuire rookie baseball card used to be bid up to $75. Nothing but a small piece of cardboard. These cards probably sell for .5 cents nowadays. Housing was bid up just like those useless McGuire cards. Part of the Stimulus Plan was to keep the housing market "inflated" which, in turn, would help out the large Financial Institutions. If we are lucky, this Stimulus will only delay the drop in housing value by another 20%-30%. Housing is nothing but some pieces of wood and sheet rock. Obama's magic is wearing off. Elections are in November.
mx400bee
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mx400bee 9/3/2010 8:07am
9/3/2010 8:07am
Thats a fact Nacho but it appears the Democrats are trying to show the World how to finish the job. Hopefully, with November coming soon some sort of action towards fixing the economy will become more important than the lip service America has been hearing from DC.
wired4speed 9/3/2010 8:07am
9/3/2010 8:07am
He's got nothing to worry about. Economy is solid. Jobs are being created. Health care is kicking in. Housing prices are dropping down into realistic levels. Mortgage rates are at a all time low. Looks like the Democrats have a cake walk in November. Nothing here to see.....
wired4speed 9/3/2010 8:16am
9/3/2010 8:16am Edited Date/Time 9/3/2010 8:16am
Actually, the best news is just ask your neighbor how they are doing. My neighbor gave me their cell phone # and said they can't afford the land line anymore. He's paying an extra $400 a month in gas costs, had his overtime cut down to 0% and his retirement plan was changed which added 10 more years to the date of his retirement. My sister-in-law has been making mortgage payments on time and tried to assume the mortage under her own name after her divorce. Can't do it because she is making her
"payments on time." You have a hang up with Fox News. Personally, I enjoy "Morning Joe."
wired4speed 9/3/2010 8:24am
9/3/2010 8:24am
It's not a shitty economy. It's a global economy. Everything is going to be alright.
borg
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borg 9/3/2010 8:25am
9/3/2010 8:25am
wired4speed wrote:
Actually, the best news is just ask your neighbor how they are doing. My neighbor gave me their cell phone # and said they can't afford...
Actually, the best news is just ask your neighbor how they are doing. My neighbor gave me their cell phone # and said they can't afford the land line anymore. He's paying an extra $400 a month in gas costs, had his overtime cut down to 0% and his retirement plan was changed which added 10 more years to the date of his retirement. My sister-in-law has been making mortgage payments on time and tried to assume the mortage under her own name after her divorce. Can't do it because she is making her
"payments on time." You have a hang up with Fox News. Personally, I enjoy "Morning Joe."
Nach is just fishing for a right winger to counter his idiotic statements with equal idiocy.

"When Boehner says something stupid, some Democrat has to respond in kind. It's just the way it is."

wired4speed 9/3/2010 8:33am
9/3/2010 8:33am
I'm doing great too. I did great regardless of which ass hole is running the Country including this rising crop of Corporate Democrats. I love it. More people paying down credit. Housing values deflating to factual worth. There's only one small problem. Personal debt is being paid down while Government debt ??????????? Some of my neighbors are not doing "great." Some of my older neighbors also don't draw much interest from their bank accounts. Thats' great that you're doing good. You probably were doing great under Bush too. That's some funny shit isn't it.
wired4speed 9/3/2010 8:44am
9/3/2010 8:44am
borg wrote:
Nach is just fishing for a right winger to counter his idiotic statements with equal idiocy. [i]"When Boehner says something stupid, some Democrat has to respond...
Nach is just fishing for a right winger to counter his idiotic statements with equal idiocy.

"When Boehner says something stupid, some Democrat has to respond in kind. It's just the way it is."

I know Nacho is just fish'n. It's normally a harmless one sentence feed or a copy and paste response. The President of the United States and Congress work within the rules Corporate America has set up. Obama is not doing or delivering anything more than what the Corporate structure is dictating to him. The Stimulus Plan to inflate the housing market looked as though its design was to protect homeowners. That's just one sign that showes me Obama is stepping right in line with DC politics. Wall Street is up and running like normal and once the smoke clears the IPO schemes should pick up too. Looks like the Democrats have nothing to worry about in November.
dougie
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dougie 9/3/2010 9:39am
9/3/2010 9:39am
borg wrote:
Government losses were mostly census workers. The private sector gained about 67,000 which is better than losing jobs but is still way behind the break even...
Government losses were mostly census workers. The private sector gained about 67,000 which is better than losing jobs but is still way behind the break even number of 150,000. To keep up with new people entering the workforce and to re employ the unemployed will require a gain of 250,000 to 300,000, private sector jobs per month for a several years. Not going to happen. Unless something like the dot com boom or another real estate bubble happens, we are stuck with high unemployment. There is really nothing that government can do about it either except fringe tinkering. If they were honest they would admit it and go about the business of getting their own balance sheet in order.

Not only "would" it take many years to re-employ all the displaced workers at a job creation rate of 300k per month but we have the additional problem of finding companies willing to hire workers who have been out of work in many cases for a few years or more. Also the older workers. Workers over 50 are having a much rougher time getting re employed. And with people needing to put off their retirement until later in life these people too will need jobs.





CR250Rider
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CR250Rider 9/3/2010 10:13am
9/3/2010 10:13am Edited Date/Time 9/3/2010 10:13am
"Through steep progressive taxes on the super-wealthy, fair income taxes on hedge funds and transaction fees on Wall Street's proprietary trading, we can keep that bubble from reinflating -- and in the process raise the money we need to put America back to work. With the revenue we collect, we can hire millions of people to weatherize homes and buildings and rebuild our infrastructure. Instead of laying off teachers we can hire more, and provide them with better training and support. We can expand universities and colleges too, and allow people to go to college for free, which will improve our peoples' skills -- and keep young people off the unemployment rolls."





smart guy....
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TeamGreen 9/3/2010 11:09am
9/3/2010 11:09am
Damn!

I better go get a degree (Never finished).

Time to take up that offer in Pasadena in-case I need a job...someday (As in working for someone-else).

Ya think they'll make me do the math? (I really hope not!)

No worries, I'll jus' dream up some silly theory to explain the un-exlpained...what comes after Membrane Theory, anyways?

Pit Row

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Frogman
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Frogman 9/3/2010 11:20am
9/3/2010 11:20am
Explaining how your solution is flawed probably would be lost on you.
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dougie 9/3/2010 11:57am
9/3/2010 11:57am
I keep hearing that there are 6 unemployed people for every available job opening in America. Assuming thats true, I wonder how many of those jobs require a college education? Even if they all required a degree you'd think that with so many applicants they wouldnt have too tough a time filling them. Agreeing with you was a guy just on TV a few minutes ago. An Indian CEO who claimed that the reason his company here in America used so many Indian engineers was because we dont graduate enough engineering students here. BUT also of interest was something that ex commerce secretary Carlos Gutierrez just said on TV. He said what worried him about this months report was that of the jobs lost many were jobs requiring a college degree and that a like number of jobs that didnt require degrees were created. Interesting huh?... Possibly explained by so many more part time jobs on the low end of the scale?

We need to be realistic here. No way, no how, are we ever going to get all Americans college educated. There are simply too many people who just dont have the smarts. And those people need jobs too. But weve shipped many of the jobs they are qualified to do off shore. Bummer. Another reality we need to consider is the High School drop out rate in America. Its right around 33%.

GoldenState54 9/3/2010 11:59am
9/3/2010 11:59am
Hey if I steal an employee away from another company would that be a check in the job added box??
WhKnuckle
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WhKnuckle 9/3/2010 12:16pm
9/3/2010 12:16pm
GoldenState54 wrote:
Hey if I steal an employee away from another company would that be a check in the job added box??
Only if he's an adder to your company and the company you stole him from replaces him.
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CamP 9/3/2010 2:05pm
9/3/2010 2:05pm
A big retail client of mine is building stores again. That's a good sign.
flarider
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flarider 9/3/2010 2:07pm
9/3/2010 2:07pm
I see housing starts around here (non-development) and new businesses
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Frogman 9/3/2010 3:55pm
9/3/2010 3:55pm
I am sure a bunch of them will be thrilled when they go from the 10% group to the 4.5% group after dropping 50-100k on a degree.

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FlaNard 9/4/2010 12:46am
9/4/2010 12:46am
All I see around here are alot of homes for sale and alot of people telling me that they dont know if they will still have a job when they wake up in the morning. Alot of those people have already taken pay cuts just to keep the jobs that they do have. Not Obama's fault, but it is sad to see. I have never seen it so bad.
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Blake 9/4/2010 10:25pm
9/4/2010 10:25pm
wired4speed wrote:
Actually, the best news is just ask your neighbor how they are doing. My neighbor gave me their cell phone # and said they can't afford...
Actually, the best news is just ask your neighbor how they are doing. My neighbor gave me their cell phone # and said they can't afford the land line anymore. He's paying an extra $400 a month in gas costs, had his overtime cut down to 0% and his retirement plan was changed which added 10 more years to the date of his retirement. My sister-in-law has been making mortgage payments on time and tried to assume the mortage under her own name after her divorce. Can't do it because she is making her
"payments on time." You have a hang up with Fox News. Personally, I enjoy "Morning Joe."
Thats a crock of shit in regards to the mortgage.

There are no more assumable mortgages, unless it was taken out about 10 or more years ago, and the ONLY way to get the loan in her name alone is to refi the loan, and remove the other.
Of course she has to be able to qualify for it alone. If not, you're stuck.

Has nothing to do with being on time or not.
Blake
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Blake 9/4/2010 10:44pm
9/4/2010 10:44pm
People with degrees are some of the dumbest mother fuckers I've ever met.

It seems the more education they have, the dumber they are in the real world.

Half the people have degrees in shit that is completely useless.

Degree in the fashion industry. I suppose that qualifies you to sell bras at Victoria's Secret?

Degree in Interior Design? I guess you can sell a Chair that matches the carpet?

Degree in Tele communication? What? You can sell Cell service for minimum wage, when every geek 14 year old knows more about the shit than you?

Teaching Degree? You're gonna live in a place like Marin, CA making 35 grand, when the poverty line for a single person is/was 69K??

Degree in Transportation? Going to drive the Public Bus?

Chances are, you'll never make enough money to ever pay the loan.

What they need is to go back to On the Job training, and apprenticeships.

You can learn more in a day than you will in a year in school.

Who's the better doctor?

The one that can fix a bullet wound in a swamp, with pliers and floss, and a needle, or some clown that's never seen a bullet, a gun, or a real bullet wound?

I'll take the guy that learned in a swamp. Why? Because when he's in a sterile pristine environment, he's god.

Degrees are BS.
borg
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borg 9/5/2010 7:16am
9/5/2010 7:16am
Blake wrote: People with degrees are some of the dumbest mother fuckers I've ever met.

I have to agree with that. There is nobody with a more inflated estimate of their own smarts than a recent college grad. Holy shit! I have so many stories.
And also, if there were more college grads out there right now, the unemployment rate for college grads would be higher. But here's another little tweak on those numbers, A friend has a brother who has a degree in electrical engineering and works for Hughes. My friend does not have a degree but runs circles around his brother. In fact, the grad call his brother all the time for help on his projects. There are experimental aircraft out there using circuits that were designed by him for his brother yet Hughes instinctively hires the one with a degree and wont even talk to the other one. I know it's anecdotal but I think there is more of that than is realized. I did a lot of work for a big company in the plastics business. The guy I worked for wanted to hire me to run one of his plants but because I didn't have a degree, corporate wouldn't even consider it even though the guys on the ground knew I was the best man for the job. Kind of dumb if you ask me.
KAWboy14
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KAWboy14 9/5/2010 7:19am
9/5/2010 7:19am
only about 5% of those that go to college have a real reason for being there other than sucking their parents cash dry to party a couple more years!

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