January '10 Labor Market

[norman]

The employment situation numbers indicate the economy remains dismal. Since the employment peak in December '07, 8.519-million private sector jobs were eliminated.

DATE VALUE CHANGE (in thousands)
01/10 107,055 -12 -8,519
12/09 107,067 -123
11/09 107,190 75
10/09 107,115 -262
09/09 107,377 -186
08/09 107,563 -215
07/09 107,778 -297
06/09 108,075 -452
05/09 108,527 -334
04/09 108,861 -649
03/09 109,510 -744
02/09 110,254 -707
01/09 110,961 -806
12/08 111,767 -667
11/08 112,434 -734
10/08 113,168 -547
09/08 113,715 -456
08/08 114,171 -347
07/08 114,518 -257
06/08 114,775 -230
05/08 115,005 -253
04/08 115,258 -161
03/08 115,419 -58
02/08 115,477 -85
01/08 115,562 -12
12/07 115,574

source: FRED, USPRIV

[WorkingOnIt]

I'm not a doom and gloomer, but best prepare, folks. It is not going to get prettier any time too soon.
I know 3 small business owners, (self-included), who are having a hard time getting supplies, and it isn't because the supplies are flying off the shelves. It's because the suppliers are shutting their doors due to lack of business. People don't HAVE discretionary funds to spend on hair stylers and dog grooming. Few are building, or even remodeling, their homes. If the taxes Congress are wanting to push thru, happen, we're really sunk.
Hang on tight. It's gonna be a wild ride!

[GT7]

Most states are boosting their unemployment taxes also, it is costing businesses a fortune.

[WorkingOnIt]

Most states are boosting their unemployment taxes also, it is costing businesses a fortune.

It's literally breaking their banks. I have 6 sisters so I guess I'm allowed 1 dumb one. She actually thinks that the extended unemployment benefits she's receiving are coming from a now defunct business.
Then again, she also thinks she can start collecting Social Security benefits at <60 years old, and doesn't understand why employers are so 'greedy' that they're fried out at having to pay in higher unemployment taxes when there is absolutely NO justification for it. She doesn't 'get' that those taxes are running businesses out out business, literally.
Pardon me for going on. I just happen to think she's a prime example of the thousands of nitwits who don't get it.

[Bucks]

It's literally breaking their banks. I have 6 sisters so I guess I'm allowed 1 dumb one. She actually thinks that the extended unemployment benefits she's receiving are coming from a now defunct business.
Then again, she also thinks she can start collecting Social Security benefits at <60 years old, and doesn't understand why employers are so 'greedy' that they're fried out at having to pay in higher unemployment taxes when there is absolutely NO justification for it. She doesn't 'get' that those taxes are running businesses out out business, literally.
Pardon me for going on. I just happen to think she's a prime example of the thousands of nitwits who don't get it.

Was she really bad at math ? I mean really, really bad.

When I was about five years old my sister was teaching me math (she liked knowing more than me) so she would put some pennies on the table and then started taking some away. That little lesson taught me way more than she thought. She never gave a reason for taking them but when my father started talking about taxes, things got very clear very quick.

On the other hand, my father voted for democrats so maybe he wasn't good at math either.

Maybe it had more to do with logic.

.

[WorkingOnIt]

Was she really bad at math ? I mean really, really bad.

When I was about five years old my sister was teaching me math (she liked knowing more than me) so she would put some pennies on the table and then started taking some away. That little lesson taught me way more than she thought. She never gave a reason for taking them but when my father started talking about taxes, things got very clear very quick.

On the other hand, my father voted for democrats so maybe he wasn't good at math either.

Maybe it had more to do with logic.

.

Good for your sister. A natural teacher.
To answer your question...This is really embarassing. She didn't know that her entire 401K was tied up in an IRA - for the past ten years! How can you not KNOW that?! I wouldn't care so much, but I'm thinking she votes.

As to parents voting for dems... I'm wondering the age of your parents 'cuz mine, who were born in the late 1920's did, also. In the 40's & 50's, that's what the working class did; vote Democrat. What I don't know is why anyone would brag on being a "Truman Democrat", as if that was some special exclusion from "idiot democrats". Truman gave us the minimum wage. He also wanted to nationalize health care.

[Fantasy Chaser]

White House: 95,000 Jobs to Come Each Month

AP

WASHINGTON - The United States is likely to average 95,000 more jobs each month this year, while personal savings will remain high as credit remains tight, according to a White House report released Thursday.

The Council of Economic Advisers also trumpeted the $787 billion economic stimulus package, which it said has saved or created about 2 million jobs.
___________________________________

All I can say is .

Full article at: FOXNews.com - White House: 95,000 Jobs to Come Each Month

[Blackwell]

While listening to the news, I overheard that the new tax cut for employers was going to bring 8 to 18 jobs per $1 mil. saved by the cut. It looks like Barry's attempt at looking like he is creating jobs through tax cuts is not working out so well. This bill is getting heat from both sides.

It's hard to create jobs when products are not in demand because people have no money... because they don't have jobs.

[WorkingOnIt]

While listening to the news, I overheard that the new tax cut for employers was going to bring 8 to 18 jobs per $1 mil. saved by the cut. It looks like Barry's attempt at looking like he is creating jobs through tax cuts is not working out so well. This bill is getting heat from both sides.

It's hard to create jobs when products are not in demand because people have no money... because they don't have jobs.

We've all seen that billboard of Former President Bush asking, "Do you miss me yet?"
Who I miss is REAGAN! The guy who knew the best thing gov't could do to 'create jobs' was get the heck out of the way!
I would not be surprised to hear that Ayn Rand was one of his heroes.

[indepenence]

I'm not a doom and gloomer, but best prepare, folks. It is not going to get prettier any time too soon.
I know 3 small business owners, (self-included), who are having a hard time getting supplies, and it isn't because the supplies are flying off the shelves. It's because the suppliers are shutting their doors due to lack of business. People don't HAVE discretionary funds to spend on hair stylers and dog grooming. Few are building, or even remodeling, their homes. If the taxes Congress are wanting to push thru, happen, we're really sunk.
Hang on tight. It's gonna be a wild ride!

This is exactly what more people need to see to put 2 and 2 together. When people cut spending, for financial security or otherwise, it reduces the demand for services and thus the need for jobs. So as jobs are disappearing, people need to have a good think about what to do with all the unemployment.

Obviously no one want to pay more for social benefits for the unemployed, but you have to come to terms with the fact that everyone needs a means to live, even if there is no demand for their skills.

So rather than tax employed people and businesses more to pay more unemployment and retirement benefits, why not supplant unemployment with underemployment by creating more part time jobs instead of full time ones?

I have posted this idea many times before, always with negative responses, but what better way is there to deal with increasing unemployment?

If there's less work to be done, you spread out the work among more people to give everyone something to do. I don't get it, what is more rational than that in an economy where most people do work for someone other than themselves?