Unemployment Rate falls to 4.4%

Originally posted by smirkley

Guess what happens IF Walmart falls.

I think we are better off economically if we keep buying stuff from China thru Walmart, no?

Wal-Mart will not fall at least no for a long time, they are here to stay and is nothing wrog with wal-mart they are just another big mega corporation.

The problem is that while the middle class jobs in the manufacturing are outsourced outside the US they are the ones offering to fill the gap.

But you can never compare a salary in the 60 or 120 and twenty thusand a year with a minimum wage in their stores.

Understand now.

Something very funny I faced myself with this weekend.

I was shopping for boots in the military PX that is the exchange. I decided to check the labels on the merchandise.

Guess what nothing in the store Was American made most of the goods were from third world countries and specially China.

This a break down of US borring money from foreign countries.

June 2006 June 2005
Japan 635.3 667.1
China 327.7 298
United Kingdom 201.4 58.8
Oil Exporters 101.5 68.5
Korea 68.9 63
Taiwan 67.1 67.8
Caribbean Banking Centers 60.3 70.9
Hong Kong 48.8 44.5
Germany 48.3 44.1
Mexico 46 29

www.economyincrisis.org...

You can check all the countries on the link that have lend money to the US.





[edit on 5-11-2006 by marg6043]

As far as houses being harder to sell now than last year this time, the fact is, the housing market is undergoing a correction that is long overdue. Right now, it's a buyer's market. And they're being picky. Housing prices have risen rapidly the last few years.

As far as not being able to afford one, it depends on where you live. But qualifying isn't that difficult. My daughter's childhood buddy qualified for a $220K mortgage on her own. And she works at PetCo.

Originally posted by marg6043
Perhaps they forgot to come here to my neck of the woods in GA and check that we just lost to major employments in the area, Bob candies and Merck pharmaceuticals, last year we lost Copper tires assembly plant.

No, they didn't forget you, marg, unless people down there don't qualify for unemployment compensation.

What happened to those companies, marg? Consolidation? Outsourcing? I can find out, but I hope you'll save me the time. You seem to imply that all those jobs went overseas, though.

But you can not longer claim bankruptcy thanks to Mr. Bush helping corporate American.

That is not true at all, marg. But, it sells nicely to the un-informed, eh?

The fact is, most of us cannot afford to buy the same house we grew up in, as our first home. But that has nothing to do with the current state of unemployment - it's been that way for decades.

Grand Total Foreign Holdings 2089.7

OK let me grab my calculator........Let's round up to 2.1 Trillion


There it is, rounded up, 18% of what this nation produces in ONE year.


That means if you make 35k a year $6300 would be your debt to foreign nations. Hardly a reason to despair.

Originally posted by jsobecky
As far as houses being harder to sell now than last year this time, the fact is, the housing market is undergoing a correction that is long overdue. Right now, it's a buyer's market. And they're being picky. Housing prices have risen rapidly the last few years.

As far as not being able to afford one, it depends on where you live. But qualifying isn't that difficult. My daughter's childhood buddy qualified for a $220K mortgage on her own. And she works at PetCo.

It's more than being picky Jsobecky, they aren't buying period! Look at the sales, they are way down. On top of that foreclosures are really going up.

Qualifying for a mortgage is a joke these days and it's just contributing to the problem. They seem to have no problem getting people qualified, but then the lenders are equally ready to foreclose. There is definately something amiss here and it's going to hit all of us.

posted by relentless
It's more than being picky Jsobecky, they aren't buying period!

It's CYCLICAL! You don't get a sellers market for six years like we saw, and not have it swing around hard.

It's CYCLICAL! You don't get a sellers market for six years like we saw, and not have it swing around hard.

Also, do you understand that the problem is that the most part of our economic growth since 9/11 is in the house market? What happen if you don't have anymore economic growth and that you have a very big debt that still increasing everyday? You're screwed.

posted by vitchilo
You're screwed.

Not just us, the whole World. We got 'bout 20% stake in that game!


If this is the case, then why aren't we talking about Crisco sandwiches and possum giblets. These are the things that will actually help people in the Depression to End all Depressions?

I don't care about how many people are working! .. Damnit I want to know how much these folks are MAKING ... show me the MONEY.... oh.. or are they all low paying jobs like a cleric at a store counter. it did say service industry, not high tech industrial, not high paying white collar jobs no.. service.. what is service? .. McDonalds. The strain on the middle class has been worse and worse ever since the late 90's .. how long till the middle class snaps? .. just last year they ran out of savings, for the first time since the great depression we had negative spending/savings and nothing in the accounts, middle class people living pay check to pay check.

posted by rockpuck
just last year they ran out of savings

Yup, how'd ya know. I just ran outta savings last year. (Not) Fact 'o the matter is, I've never had any savings! Many people in my generation have never had any savings. It's all parta growin' up in a big fat wealthy society.

Originally posted by smirkley
For example, let's take Detroit, where the big three ARE the employers (and suppliers related). I suppose if you dont take in account that in 6 months 50,000 persons emigrated OUT OF Detroit area in search of jobs this year, primarily moving to the south and west. I suppose if you say a job "buyout" by your employer doesn't constitute "unemployment".

Unless you live in Michigan you can't even begin to know how bad the unemployment picture is.
Things were bad before the Big 3 began bailing!!!
It was hard to get meaningful work and now all the folks who are out of work or will soon be relieved of their union jobs, but now it is near impossible. Many of these people will NOT be leaving Michigan and will be further stressing the terrible economy.

4.4% Not here, unless maybe you add a "1" before the "4"

On top of that, the minimum wage was raised from about $5.50 per hour to $6.95. Soon to go to $7.45.
Before you start saying how great that would be to the workers here, stop and think that fewer of those workers will be around for those low paying jobs as small companies cannot afford to beef up their labor budgets.
Think what kind of trickle down that could mean. Both to lost jobs and the increasing payrolls as wages of other lower end jobs begin to creep upwards.
And, benefits????? You'd be lucky to get a FULL time job forget the vacations and health insurance. Many, many jobs are part time ONLY.

To tie this back in to the topic, I can envision this bleak picture beginning to show over more parts of this country as more and more jobs flee to countries with lower labor costs and more liberal EPA standards.

Alright, now I'm startin' to get depressed. Gotta turn off the machine, maybe save some electricity.

Originally posted by DontTreadOnMe
Unless you live in Michigan you can't even begin to know how bad the unemployment picture is.

Trust me, I can begin to know. And if it werent for me, only 49,999 person's would have been tallied.

HWHAE,

I posted a similar thread a good while back and goy the same posting of irrelevant personal tragic stories and posters submitting "Facts" that have no basis in true economic figures.

Somehow people think that because they are in a personal tragedy, or some people they know, then the entire country must be. Sad...

But it is obvious on this thread that most would not know true economics if it came up and bit their behind....

Good thread though with good information...

Good luck on the current "Thrashing."



Semper

All I have to say is, if you seek employment for yourself and others, go out and create your own jobs. Sure I am working at Wal-Mart now, but I am in fact in the process of creating a business of my own.

I already have the attorney helping me navigate the liability issues, as well as an accountant, the two biggest priorities of any succesful business. I also have in development a local Business consultation job focusing with mom/pop and small businesses, with my first credential in fact being one of the largest corporations in the world.

college graduates with their "pieces of papers" may think these hourly wage jobs are too good for them, but if they had planned ther financial lives better (which should not had to be a problem big bad college grads) there would have been no issues. WTF kind of thinking is it to go working for someone and expect to have job security? If one dwells in a small town with no opportunity perhaps it would be prudent to relocate to a bigger township or create your own business (with the proper planning of course).

If anyone should have an excuse to complain it would be me. Criminal record, no higher education (not even a high school grad), low wage hourly employee, junkies and criminals surround my neighborhood. But I frankly I am working my ass off to fix my mistakes, create my own career, and pay my dues to the government who gave me the opportunity, which is the only thing they really owe us in a Capitalist system. THERE IS NO GODDAMN REASON TO EVADE YOUR TAXES!! Learn to live wthin your means, and not expect to be served with maids, machines, six luxury cars and three homes in different parts of the country.

You want job security, free education and medical? Perhaps it would serve you well to relocate to a socialist/communist country. You choose to live here, and by doing so you acknowledge the only thing Capitalism owes you is the opportunity itself. The unemployment rate is directly dependant on the people to change, noone else. Friends out of jobs? Pitch in together and create one. Thats what Capitalism is all about. If ever you wanted survival of the fittest this is it.

But anyways, if you do indeed believe your papers entitle you to 100,000+ a year work your way up through the Wal-Mart system. Thats close to what a Store Manager makes and you could get there from a cart pusher in as little as five years without college depending on your determination. Thats obviously not everyones dream, but it is an option/opportunity.

Jobs are provided by citizens who create businesses. If you and many you know are unemployed, its time to create a business.

You have voted DYepes for the Way Above Top Secret award. You have two more votes this month.

As much for your personal determination as for the post...

Semper

There are a variety of those temporary staffing jobs as well in any given city arent there? If people feel bad about collecting an unemployment check, maybe it would help to check one of those places out. Heck one could probably make quite a few contacts working a variety of jobs.

I would say its worth a shot.

Originally posted by semperfortis
I posted a similar thread a good while back and goy the same posting of irrelevant personal tragic stories and posters submitting "Facts" that have no basis in true economic figures.

Somehow people think that because they are in a personal tragedy, or some people they know, then the entire country must be. Sad...

But it is obvious on this thread that most would not know true economics if it came up and bit their behind....

Michigan, Ohio, Indiana

Some Facts,...

The Detroit and outlying area's are suffering from Real Estate depreciation. Prices are down 10-12 percent overall and turn-around is over 6 month's and some higher.

Detroit is one of the worst cities in crime and one of the most dangerous to live in. A poor economy is one of the primary reason's for sharp increases in crime.

In about one year, the big 2 automakers have had losses of over 30 BILLION. This ripples thruout the whole tri-state area as suppliers lose contracts. Guess what happens to their employee's.

It was estimated that in the first 6 months of this year, 50,000 persons emigrated out of Detroit looking to replace jobs.

The big 2 automakers in a span of one year, will have trimmed approximately over half of their workforce. Just a few examples of 'personal' tragedies. This doesn't include suppliers like Delphi, which is in bankruptcy and are chopping also.

Yes, I could go on and on, and quite frankly, I was one of the lucky ones. But of the 50k persons that left that region to be absorbed into new economies for lesser wages, that doesn't include many many, many, more, that cant afford to leave, or are going to make a go of it with their little $50k buyouts, only to be hired back by the same companies at half their old wages, now as temps, filling their old jobs they used to have.

The tri-state area is quite a large exception to this "overall" economy of scale.

Good luck on the current "Thrashing."

Thrashed with (regional) reality



edit, punctuation

[edit on 5-11-2006 by smirkley]

If unemployment is so bad, how can millions of people enter the country illegally and find work?

Originally posted by Majic
If unemployment is so bad, how can millions of people enter the country illegally and find work?

Because all they need is a stolen social security number (Identity theft rises as more illegals find work) and the desire to work for 1/4th what an American would work for, to find a job.

It is more of a question of the quality of jobs that are available rather than the number of jobs that are available.

Originally posted by Majic
If unemployment is so bad, how can millions of people enter the country illegally and find work?

Couse lots and lots of companies love "employee's" that they dont have to do much paperwork on, lower wages paid (and in cash many times), and no need to pay into unemployment insurance or the likes.

For a contractor, its a blessing. For a man who has a lawn care company, its easy staffing. For even airplane repair / reconditioning companies, its a way of filling high wage jobs without the hassles. ( Doing Jobs That Americans Wont Do )

edit-correction

[edit on 5-11-2006 by smirkley]