Posted on 12/24/2014 10:25:11 AM PST by Vermont Lt
As the Dow hits new heights, there are reports all around about the new robustness of the U.S. economy.
Things here in Western MA are not great. It doesn't feel like huge 5% growth and the unemployed are all around.
I am wondering what it's like in your neck of the woods.
Also, wishing all of you a Merry Christmas and a great 2015!
Western PA, not bad because Tom Wolf has not been sworn in yet, and hence has not shut down fracking.
You have to remember our local economy cratered in 1979 and stayed there for over 20 years. So in relative terms it looks decent to most people here.
On Black Friday on the central coast of California I made a point of asking EVERY cashier I dealt with (over four) and they all independently said this year was way down as compared with last year.
All this honey and roses media blather is outlandish.
North Central Texas. Will take a hit soon because of low oil prices, but otherwise much better than most places, although nowhere near the Reagan years or 2004.
(Indiana)
Lots of “help wanted” signs but for $8/hour jobs. But that is better than 2-3 yrs ago when even those weren’t avail.
Sub $2/gal gas has helped biz at restaurants per some comments at local places.
Agriculture may be mixed as commodity prices are down but energy costs will help.
Stores not looking too busy this holiday season but not sure how much due to on-line, everybody I talk to seems to be hitting the internet shopping hard.
A lot of commercial construction happening in my small ct town.
Went up to Cape Cod the other week and more store fronts and hotels are boarded up. Even the IHOP right over the Bourne bridge is boarded up and the IHOP sign is gone. IHOP has been there some 20 years.
Texas Hill Country, It sux.
Don’t come here unless you’re a G_D fearin, gun totin Conservative.
We were hit harder than most by the crash in 2008, unemployment reaching 15% by official estimates and likely higher, which had been slow to improve. The economy has been doing much better since last year here, with unemployment closing in on the national average. Traffic’s up, homebuilding and apartment construction has returned. Fracking has a lot to do with it, due to the inexpensive natural gas it creates. This has revived the manufacturing segment and this metro is still manufacturing dominated, despite decades of trying to diversify. There are actually new textile mills being built, an unimaginable thing since that industry has long been given up for dead. So, we’re doing OK now, finally. Feels tenuous to me though.
NW PA here... people with wells are scared about loss of income. Other than healthscare and service jobs, most of the heavy industry is gone as it has been for a long time. Every trip to the grocery store or WalMart, the three tattooed single moms in line ahead of me with their broods are paying with SNAP cards.
> A lot of commercial construction happening in my small ct town.
Mostly white workers right?.../s
Western KS economy has been crap for years, only bright spot was the repeal of state income tax by Republican Governor, naturally called end of the world by RATS. Falling oil prices will cost many decent jobs, speeding decline of this area.
Near me? I’d say it’s schizophrenic. Signs of a significant amount people out of work and on benefits, working poor everywhere, homeless, but restaurants and stores busy all the time.
I see some signs of limited improvement. But I have seen quite a few downsizings in my little town. Relocating to cheaper digs, sales of generations-long businesses, and quite a few retransitions of businesses that didn’t even last a year.
Meanwhile, the 20% of my county that subsist on SNAP, EITC, WICs, Section 8, Obama phones and the like are ecstatically happy with their lot in life....
They are probably waiting for the ObamaCar now.
NC, Raleigh: doing pretty well, a city of government and government education...altho the housing market is still weak in many niches.
NC Coastal: tourism good. Everything else? Sucks for the most part. Gas prices will help - lot of boating related industry here.
I’m one of those who always waits til the last minute to shop for Christmas.
I was amazed this week how much easier it was to get through the stores.
If others are like me, they have far less money to spend after paying the huge increases in Health Insurance premiums. In 5 years, I gone from $350/mo to $1017/mo on the same income.
I have no choice but to cut back on non-essentials
Bingo - schizophrenic. There are some 50% or so that still have the job they had 5+ years ago, and even though there haven’t been real raises, those folks are comfortable. The rest are in total depression. So you still see folks in resturants and such. For many folks things really aren’t that different.
Of course this is by design, but it may not result in the swelling of Democrat voter rolls that the designers are hoping for.
Our retail sales are up over 2013, but just barely. That's in part because the second half of 2012 and the first half of 2013 were horrible due to Obama's re-election. Our average sale is larger, but our transaction count is down at least 25% in 2014. That tells us what the business plan is: sell more to rich people, or perish.
> NW PA here... people with wells are scared about loss of income. Other than healthscare and service jobs, most of the heavy industry is gone as it has been for a long time. Every trip to the grocery store or WalMart, the three tattooed single moms in line ahead of me with their broods are paying with SNAP cards.
Very common sighting here too. Usuall a pregnant Hispanic woman with 3 - 4 kids under the age of 5 with that one in the oven pulling out their familiar looking white government credit cards. Occassionally I’ll see them again getting into thir almost new Ford F-150 or SUV with polished rims if they’re arked nearme. A lot of the time another male will be in the car waiting on them and I’m pretty sure the EBT’er didn’t claim their tax-free income when they applied for government benefits.
Central Virginia here. Definite up-tick in commercial activity, since gas prices headed downward. My business is up significantly over last year.
Saving $14 to $20 per fill-up is no small thing for many people. Hiring seems to be perking some. Home and apartment building is happening more than in recent years.Commercial real estate still sucks. Don’t see any restaurants going under like they were a couple years ago.
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