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Jobless claims surging, spending slowing

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posted on Jan, 31 2008 @ 12:49 PM
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Jobless claims surging, spending slowing


www.reuters.com

WASHINGTON (Reuters) - The number of workers filing new claims for jobless aid surged last week to the highest since October 2005, and consumer spending softened at the end of last year, according to reports on Thursday that heightened worries about a possible recession.

The Labor Department said initial claims for state unemployment benefits jumped by 69,000 last week to 375,000. It was the biggest jump since September 2005 and the highest since October of that year, just after Hurricane Katrina devastated the U.S. Gulf Coast.

Separately, the Commerce Department said consumer spending edged up by 0.2 percent in December after a 1 percent gain in November, just enough to keep pace with inflation.

U.S. stock markets opened down sharply on economic concerns, while the value of the dollar dropped and prices for government debt rose as traders concluded the reading on the jobs market made further aggressive interest rate cuts from the Federal Reserve more likely.

(visit the link for the full news article)




posted on Jan, 31 2008 @ 12:49 PM
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No suprise there. I personally know quite a few people that have been layed off and can't find work.

I guess the "stimulus package" will take care of all of our woes eh? lol

www.reuters.com
(visit the link for the full news article)



posted on Jan, 31 2008 @ 01:22 PM
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I don’t know about where you live but here the paper is always full of ads wanting RN/personal care and over the road drivers. The RN/personal care might require some to get some in depth training (how much would most likely depend on the job). Most of those looking for drivers will either train them or give a sign on bonus.

While these might be ideal jobs they are jobs none the less. Most people are not taking these jobs because of the hours, time away from home, pay vs. labor issues, ect. If it comes to needing a job that bad I would take whatever came my way. I have in fact done just that and worked my way to a better job. Another reason many are not getting jobs (though not always the case) is because they cannot pass a simple urine screening due to alcohol abuse and drugs. Others cannot pass simple testing given to them pre-employment due to lack of common knowledge. The place where I work turns people away daily because they cannot pass either of these tests and they are hiring now.

I’m not saying there are not a lot of people unemployed as there are and some truly cannot find a job. But many refuse to work for less than a certain amount when it really comes down to any cash putting food on the table is better than none. People often refuse to work jobs with a lot of overtime or long hours forgetting again that food on the table is better than an empty stomach.

I work long hard hours for the money I make and often do not see my wife or son for a days at a time. I hate this more than anything but choices I made in my past have put me where I am currently at work wise. I am currently working my way through school as well to get a job that pays better with better hours for my family.

I did all of this because I did not let losing one job put me down and get me in a rut. I went out that same day and started my new job hunt and found one. Worked my way out of the horrible place to something somewhat better and did it again. Now I am working at doing an even better job at that. We would not have such a problem with illegal workers coming in to the U.S. and stealing the cash from all of us if more people faced their own responsibilities for where they were and started looking at the idea that they are too good to work low pay high labor jobs if only for a short time. Someone out there is always willing to pay someone else to do something they do not want to do or they need help doing that is what opens up jobs many are not looking hard enough. I refuse to let myself be without some form of work putting food in the mouths of my family. Even if you have to go door to door and ask for “handy man” type of work it is better than sitting and not looking.

Again I am not saying some cannot find work (possibly due to health reasons) but others are just not looking hard enough for the most part. Even if every ad in the paper is looking for something I am unqualified for there is a job out there I can find if I look. I have watched the job ads in the paper for over a year now, and not once have they gotten below on page and this is a small collage town. Often the job ads range from two to four pages long several of which I could get if I needed too and they are basic “no qualification” jobs.

Raist



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