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Payrolls Plunge by 63,000, Biggest Drop in Five Years
CNBC ^ | 07 Mar 2008 | 08:33 AM ET

Posted on 03/07/2008 6:38:10 AM PST by Lazamataz

U.S. employers cut payrolls for a second straight month during February, slashing 63,000 jobs for the biggest monthly decline in nearly five years as the nation's labor markets weakened steadily, a government report on Friday showed.

The Labor Department said last month's cut followed an upwardly revised loss of 22,000 jobs in January rather than the 17,000 reported a month ago. It also said only 41,000 jobs were created in December, half the 82,000 originally reported.

"This confirms the fears that have been lurking in the financial markets in recent weeks. The probability of a U.S. recession is at more than 50 percent," said Richard DeKaser, chief economist for National City Corp. in Cleveland.

"The Fed has to be more aggressive," DeKaser added. The U.S. central bank is expected to cut interest rates again later this month and, on Friday just before the payrolls report became public, announced new measures to add liquidity to severely strained credit markets that are near seizing up.

U.S. Treasury debt prices shot up in anticipation that the Fed will cut interest rates while stock futures weakened sharply. The dollar's value was at a record low against the euro after the unfavorable employment report was issued.

The back-to-back January and February job losses were the first consecutive monthly declines since May and June of 2003.

The February jobs report was more bleak than expected. Economists surveyed by Reuters forecast 25,000 jobs would be added to payrolls last month. They had forecast that the unemployment rate would edge up to 5.0 percent.

Department officials said February's job losses were the largest for any month since March 2003, when 212,000 jobs were cut.

During February, the national unemployment rate eased to 4.8 percent from 4.9 percent in January, but that was because fewer people were in the labor force. The department said the number of people in the workforce fell by 450,000 in February.

Job losses were widespread. Some 52,000 jobs were lost in the manufacturing industries, the largest decline since July 2003 when 92,000 jobs were cut. Construction businesses eliminated another 39,000 jobs on top of 25,000 that were cut in January, a reflection of the housing industry's deepening woes.

The department said that since the housing boom peaked in September 2006, construction businesses have cut 331,000 jobs.

Retail industries also shed jobs last month, dropping 34,000 people off their payrolls, a possible reflection of concern from businesses that hard-pressed consumers are likely to begin pulling back sharply on spending.

In a statement issued with the monthly jobs data, the commissioner of the Labor department's bureau of labor statistics, Keith Hall, warned that many of this year's job losses may take a long time to come back.

"The increase in unemployment over the past 12 months was concentrated among persons who lost jobs and had no expectation of being recalled," Hall said in remarks prepared for delivery to Congress' Joint Economic Committee.

One bright spot was that the government added 38,000 jobs in February on top of 4,000 new-hires in January. Education and health services businesses added 30,000 new hires in February on top of 49,000 in January.


TOPICS: Business/Economy
KEYWORDS: omg; wearescrewed; weregonnadie
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We're all gonna die!!!!

1 posted on 03/07/2008 6:38:11 AM PST by Lazamataz
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To: Lazamataz

Unemployement falls to 4.8%.


2 posted on 03/07/2008 6:40:45 AM PST by Perdogg
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To: Lazamataz

The DNC media busy trying to get a socialist elected in the fall.
Just an instant reply of 2004 or 1992 or 1984 non stop drip, drip ,drip of bad news by the media division of the DNC .


3 posted on 03/07/2008 6:45:51 AM PST by ncalburt
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To: Lazamataz

Let me be the first: It’s Bush’s fault.


4 posted on 03/07/2008 6:45:54 AM PST by AxelPaulsenJr (God Bless George W. Bush)
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To: Lazamataz
Job losses were widespread as Unemployment rate falls to 4.8%.

Sure. Whatever.

5 posted on 03/07/2008 6:48:47 AM PST by ClearCase_guy
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To: Lazamataz

Follow up from the Wall Street Journal

>>Jobs Data Slam Stocks; Recession Fears Mount
A Wall Street Journal Online NEWS ROUNDUP

Stocks stumbled after a startlingly weak employment report presented the starkest sign yet that the U.S. is heading toward recession or in one already.

Just after the opening bell, the Dow Jones Industrial Average was down 78.23 points, or 0.7%, at 11962.16. The Standard & Poor’s 500 was down 0.6%, or 8.37 points, at 1295.97. The Nasdaq Composite Index was down 0.6%, or 12.43 points, at 2208.07.<<

http://online.wsj.com/article/SB120489072978019447.html?mod=hpp_us_whats_news


6 posted on 03/07/2008 6:50:29 AM PST by gondramB (Preach the Gospel at all times, and when necessary, use words.)
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To: ClearCase_guy
Job losses were widespread as Unemployment rate falls to 4.8%. Sure. Whatever.

We're not all gonna die.....?

7 posted on 03/07/2008 6:52:07 AM PST by Lazamataz (Why isnít this in Breaking News????)
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To: Lazamataz

“One bright spot was that the government added 38,000 jobs in February on top of 4,000 new-hires in January.”

Now there’s a bright spot!


8 posted on 03/07/2008 6:52:30 AM PST by shove_it (and have a nice day)
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To: Lazamataz

Are they counting the jobs left vacant when the illegals were rounded up and sent back recently?


9 posted on 03/07/2008 6:54:29 AM PST by Vor Lady (Empty text box seeking witty tagline for long term relationship.)
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To: Perdogg
During February, the national unemployment rate eased to 4.8 percent from 4.9 percent in January, but that was because fewer people were in the labor force. The department said the number of people in the workforce fell by 450,000 in February.

I remember when 5% was considered full employment. Why don't they ever mention that these numbers do not take the self employed into account? Many of us are dropping out of the "workforce" by retiring, semi retiring, or starting small businesses.

10 posted on 03/07/2008 6:54:59 AM PST by oldbrowser (Ideologues are impractical.)
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To: Perdogg
Unemployement falls to 4.8%.

Shhhhhhhhhhhhh! It's a secret.

11 posted on 03/07/2008 6:55:14 AM PST by The_Victor (If all I want is a warm feeling, I should just wet my pants.)
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To: Lazamataz
Let me guess, Laz: more than half of those job losses came from the banking sector, starting with Citibank.

Gen-X and all the other youngsters are going to have it made, starting in a few years. As the Boomers start to retire, millions of jobs will open up.

Trouble is, taxes will go up to make up for the SS deficit.

I think I have made the correct strategic decision, though. I'm focusing on tax, rather than accounting. Tax compliance is a necessary evil that is not likely to be outsourced, or cut during lean times.

I've told all of my kids to stay out of accounting. With increased computerization, artificial intelligence, and outsourcing (due to the repetitive nature of accounting transactions), accounting is no longer the stable career that many perceive it to be (including my better half!).

12 posted on 03/07/2008 6:55:36 AM PST by Night Hides Not (Forget it...I'll never be able to pull the lever for McCain!)
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To: Lazamataz

Hmmmm. I must be doing something wrong. I just got a big promotion and a big, fat raise, and we all got the green light from Corporate to hire on two more full-time people and as many seasonal workers as we need.

We’ll be adding at least a dozen (above minimum wage) jobs to the local market, in the completely fiscally mis-managed, over-taxed, socialist, BLUE state of Wisconsin.

But...what the hell do I know? I’m just here “on the ground” doing my job and creating wealth and opportunity for others. *SHRUG* ;)


13 posted on 03/07/2008 6:59:51 AM PST by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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To: ClearCase_guy

A lower unemployment rate doesn’t contradict the negativity of the headline job loss.

It means that the active workforce (those working and those looking for jobs) is shrinking even faster than the number of jobs.

Most importantly, the decline of those who are working is an absolute ill regardless of how many people aren’t working, because only work is economic productivity.

Secondly, given that the population isn’t declining, a drop in the active workforce is very troubling.

Most people who aren’t working or looking for work are, or are planning to, transfer the cost of their sustenance to the public (via social security and Medicare, disability and other forms of deeply subsidized if notionally “earned” assistance, welfare and other forms of wholly-unearned public assistance, subsidized student loans and tuition, and, of course, crime), while much of the rest start to consume their savings (consumption being less economically beneficial than investment, in most cases).


14 posted on 03/07/2008 7:03:27 AM PST by only1percent
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To: Diana in Wisconsin
Hmmmm. I must be doing something wrong. I just got a big promotion and a big, fat raise, and we all got the green light from Corporate to hire on two more full-time people and as many seasonal workers as we need. We’ll be adding at least a dozen (above minimum wage) jobs to the local market, in the completely fiscally mis-managed, over-taxed, socialist, BLUE state of Wisconsin.

You suck. Get with the program.

And the program is......

We're all gonna die!!!!

15 posted on 03/07/2008 7:17:47 AM PST by Lazamataz (Why isnít this in Breaking News????)
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To: Lazamataz

At the end of Carter’s term, unemployment hit 10 percent. Are we there yet? Does anyone remember what it was during Clinton’s second year, before the Republican Congress bailed him out? Wasn’t it up near 6 percent?


16 posted on 03/07/2008 7:18:50 AM PST by pallis
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To: oldbrowser
I remember when 5% was considered full employment. Why don't they ever mention that these numbers do not take the self employed into account? Many of us are dropping out of the "workforce" by retiring, semi retiring, or starting small businesses.

You also suck.

Things are horrible, and we're gonna all live in caves and eat sticks.

If we're lucky enough to even live.

17 posted on 03/07/2008 7:19:16 AM PST by Lazamataz (Why isnít this in Breaking News????)
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To: pallis
At the end of Carter’s term, unemployment hit 10 percent. Are we there yet? Does anyone remember what it was during Clinton’s second year, before the Republican Congress bailed him out? Wasn’t it up near 6 percent?

As I recall, when Clinton had unemployment at 6%, the media was ecstatic! The man was a genius! 6% was practically full employment! Why, I remember when Jimmy Carter had it at 10%! Clinton was The Man!!

Of course, now it's at 4.8%, and as Laz will tell you -- WE'RE ALL GONNA DIE!

18 posted on 03/07/2008 7:25:13 AM PST by ClearCase_guy
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To: Lazamataz

Just over one full year for the DEMOCRAT HOUSE & SENATE and look at what we have.......time to pull the purple shroud and drink the kool aid


19 posted on 03/07/2008 7:25:16 AM PST by Michigan Bowhunter (Democrat socialist liberal scumbags.....how did we let this happen!)
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To: pallis
At the end of Carter’s term, unemployment hit 10 percent. Are we there yet? Does anyone remember what it was during Clinton’s second year, before the Republican Congress bailed him out? Wasn’t it up near 6 percent?

Don't make me give my "U4-U6 vs U3" lecture again.

20 posted on 03/07/2008 7:26:13 AM PST by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: Lazamataz

Pelosi’s Fault!


21 posted on 03/07/2008 7:28:14 AM PST by dfwgator (11+7+15=3 Heismans)
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To: Night Hides Not
I used to do college recruiting for one of the (formerly) 'Big 8' accounting firms - this was back in the late 80s. They took those kids fresh out of college and started them on learning the nuts and bolts of accounting - sweatwork - and the kids were weeded out (or left after they passed the exam - needing the requisite hours to take it). The ones that were left were on the track to becoming managers and then partners in the future... I hear all the nuts and bolts gruntwork is now outsourced to India these days...

A lot of lost hands on basic accounting knowledge in our future.

OK so now accounting, IT and manufacturing is something we tell our kids not to pursue due to globalism.

22 posted on 03/07/2008 7:33:32 AM PST by american colleen
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To: ClearCase_guy
as Laz will tell you -- WE'RE ALL GONNA DIE!

Really?

First I've heard of it.

23 posted on 03/07/2008 7:38:00 AM PST by Lazamataz (Why isnít this in Breaking News????)
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To: Lazamataz

I have to admit being confused by this information. Why is unemployment still so low?


24 posted on 03/07/2008 7:40:09 AM PST by Southerngl
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To: Lazamataz

What is never mentioned in these doomist reports (even thought the unemployment rate dropped) is the numbers from the household survey which in not figured into the unemployment rate. Obviously every month more and more people are turning to the internet for jobs. The numbers are rarely mentioned in the media. I’m still trying to figure out why the drop from 4.9 to 4.8 is insignificant because fewer people are in the work force. Of course when the rate goes up do they mention fewer people are in the workforce?


25 posted on 03/07/2008 7:40:40 AM PST by driftless2
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To: Lazamataz
Probably a hundred thousand illegals slipped in to the county last quarter.
26 posted on 03/07/2008 7:41:32 AM PST by org.whodat (What's the difference between a Democrat and a republican????)
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To: Southerngl

Well, seriously, we are slowing somewhat. It remains to be seen if it is a Big Slowdown or a smaller one. Employers report shutting down jobs, therefore the numbers, but people seem to be getting by, by starting little one-man firms, or entering a ‘grey’ economy — an economy where the numbers are not so easy to measure. Also, many people have very large capital reserves, and can continue to spend and live on that money — and in some cases, that amount of money will hold them up for YEARS of zero employment.


27 posted on 03/07/2008 7:43:36 AM PST by Lazamataz (Why isnít this in Breaking News????)
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To: Vor Lady
I think they only catch one in ten of those crossing. And they don't seem to catch any that walk through the airports on a visitors visa.
28 posted on 03/07/2008 7:43:52 AM PST by org.whodat (What's the difference between a Democrat and a republican????)
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To: oldbrowser
"ever mention"

Because that would destroy the argument propagated by Big Media for the benefit of the Democrat Party that people have no jobs. The true unemployment rate (people not working for any renumeration) is probably under four percent with the internet and people like you starting their own businesses. Remember when the Republican Party is in the White House, America must be made to look like the Great Depression is still in full force.

29 posted on 03/07/2008 7:44:38 AM PST by driftless2
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To: american colleen
OK so now accounting, IT and manufacturing is something we tell our kids not to pursue due to globalism.

That's about the size of it.

My two kids in college have lived through what dear old dad has encountered: the average shelf life of a Controller/CFO is now 18-24 months, while the average tenure of two corporate tax departments that I temp'ed at recently is upwards of 15 years.

Due to the continued and increasing complexity of the tax code, it is not likely that these jobs will be outsourced. That's the reason why I'm turning my focus in that direction. Thankfully, I start a new position in 10 days, in a newly established tax department in a multinational company.

I'd be willing to bet that KPMG didn't fare well when they outsourced individual tax return prep to India.

As for my own kids, my daughter is majoring in Hospitality Management (her dream is to have her own sports bar), and my 18 year old son has no clue what he wants to do, other than become an expert at Guitar Hero.

Before I close, do you agree with my assessment of accounting as a future career, colleen? It's still a decent career, but being a CPA doesn't have nearly the cache as it did 10-15 years ago.

30 posted on 03/07/2008 7:46:38 AM PST by Night Hides Not (Forget it...I'll never be able to pull the lever for McCain!)
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To: Diana in Wisconsin

My son-in-law was hired the same day he was interviewed as a computer expert in La Crosse. His growing firm is now seeking to expand dramatically. They actually told him to contact anyone he knew with computer expertise to come in for an interview. I believe the unemployment rate in the area is under four percent which is just a little less than the Wisconsin ue rate. Things are sure horrible. (smirk)


31 posted on 03/07/2008 7:50:40 AM PST by driftless2
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To: Lazamataz

When people complain about how horrible things are, I use a simple guide to determine how well Americans are living. I look at the size of their stomachs. From travelling around the country the last six years I would say Americans are still living pretty good. Especially here in Wisconsin where there appears not to have been much stomach shrinkage in the last few years despite THIS HORRIBLE ECONOMY WHERE WE’RE ALL GOING TO DIE!!! Arrrrrrggggggghhh!!


32 posted on 03/07/2008 7:55:10 AM PST by driftless2
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To: Southerngl
The unemployment rate is set by how many people are unemployed and seeking work. If you are an illegal, your job is measured when you are employed. When you lose it(aka sent home), the job is lost, but not part of the unemployment rate because you are no longer looking for work.

If we had one of the so called "round ups", we could lose 10 million jobs and the unemployment rate wouldn't be affected. In fact, it could decrease because the jobs would have to be filled by Americans on unemployment. Most workers drawing unemployment, however, probably don't want to make beds or wash dishes. The main impact would be the carpenters and bricklayers would get off unemployment and be paid a living wage. Unless High School students get alot more humble, we may have trouble filling the bed makers and dish washer jobs for less than $10 an hour.

33 posted on 03/07/2008 7:55:29 AM PST by chuckles
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To: Night Hides Not
I guess I would agree with your assessment of accounting as a career with a caveat -- looks like you have to specialize in something that cannot be offshored/outsourced - as you did. It's the same for IT work, don't know about manufacturing.

'Back in the day' being an accounting major, being in the top 10% of your class, you could pick your firm - they were all after the same students. Being a CPA was kind of like being an FBI agent, so yes, you're right, it did have cache!

I guess all this works for now but I do worry about lost knowledge in the future. There will be a gap - not so many who have worked their way up from mailroom to CEO. I think those days are over.

Thinking longterm, I don't think 'the world is flat' mentality is good for the USA.

My daughter is a nursing major and my son is like your son - kind of clueless at 14. We'd be happy if he showed some handiness - always room for a good plumber or electrician. All I know is he has to have a college education because that's requisite - and hopefully something will jump out at him.

We have a friend who owns a sheetrock business - he learned as a kid when his father started up the business and then he and his brother took it over when the dad died. He hires Americans - pays them $15 to $20 an hour (not get rich money as we live in Ma) but lately he cannot keep up with other sheetrock companies as they are hiring either illegals or new immigrants and paying them $5 - $8 per hour.

I don't know what all this means but globalism definitely has 'moved our cheese' and you can no longer assume you'll be able to make a living at doing sort of the same thing for most of your life - and continuing ed is something that is important (sort of hard to save for lifelong education and save for the kids education as well). OK for chiefs I guess, but the Indians are sure gonna suffer.

Good luck in your new job!

34 posted on 03/07/2008 8:05:42 AM PST by american colleen
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To: Lazamataz

MEMO TO GOP:

JOB SUCKING SOUND SOUND SOUND

Can

YOU

HEAR

ME

NOW?


35 posted on 03/07/2008 8:08:39 AM PST by ex-snook ("Above all things, truth beareth away the victory.")
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To: chuckles
I'm kind of curious as to how offshored/outsourced jobs are measured... for instance, my company recently opened up a building in India and those people will take most of our mid level IT jobs - so the company looks like it is growing because although we (hundreds) are laid off here (spread out over about 10 states, so it is kind of under the radar), they are hiring even more bodies over there (takes about 2 of them to do what 1 of us did but they are a lot cheaper than we are).

Lots of US companies do that -- also, lots of companies lay off but then hire H1Bs - no job loss and in fact, they sometimes lay of 1 US worker and hire a couple of H1Bs - so no job loss and actually, an increase in hiring --- how is that measured?

36 posted on 03/07/2008 8:10:32 AM PST by american colleen
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To: driftless2
The economic trouble we are in isn't the normal trouble the average person can see. We are NOT in an economic crisis, we are in a CREDIT crisis. This affects no one, until they try to get a loan. While financial institutions are experiencing projectile vomiting, the average Joe is fat and happy. The weakness in banks may start showing up when a few large ones fold up. The dollar is falling faster than planned, inflation is getting worse, and Bernanke has no more bullets. He is FORCED to lower interest rates to try to keep the plates spinning, but the falling dollar and inflation is tying his hands. We either accept the recession, or have $200 oil and $1500 gold. It won't affect the consumer till much later. The obvious effect would be the consumer collapses and the jobs start to fold.

When do you refuse to buy gas or what luxury to you cut first. A good example is Harley Davidson. They were flying high till things started to tighten. The first thing to go in bad times is a $25k motorcycle. They have fallen from $60+ to $35 in just a few months. We will still buy bread, even for $4 a loaf, but we will look to cut everything else first. When the consumer goes, the economy goes.

Keep your eyes on the plates.

37 posted on 03/07/2008 8:11:28 AM PST by chuckles
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To: american colleen; Night Hides Not

I have to disagree. I worked for 8 years in public practice and now work in industry. Competent accounting personnel are few and far between. Most of the “grunt work” has indeed been automated, but the need for people who can think and apply accounting principles to real world situations is very real. As standards get more and more complex, this will only become more and more of an issue. This combined with SOX and increasing importance put on accounting and controls in general tells me there is a great future for bright young people to go into accounting.


38 posted on 03/07/2008 8:13:36 AM PST by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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To: VegasCowboy
I've been out of the accounting world for so long that I really have no idea how the recruiting process is going these days.

I guess my question is, ok, the grunt work is gone but to get to the point where you can apply accounting situations in the real world, don't you have to start out with the grunt work -- I recall these kids going out to firms and doing paper and pencil auditing/accounting work (grunt work) just so they could progress to the point where they could apply what they learned in school to the real world. Where do you get that experience now?

SOX... kill me... I'm in IT (for a little while longer anyhow!).

I think the ticket is specialization and knowing that you will be going to school off and on for the rest of your working days.

39 posted on 03/07/2008 8:20:02 AM PST by american colleen
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To: american colleen
I'm certainly no expert bureaucrat, but as far as I know, the simple explanation is we count jobs HERE. If your job is outsourced, It will be counted as a lost job. The person that lost his job is counted as unemployed UNLESS he retires, doesn't file for unemployment, starts his own business, etc. The unemployment rate comes from,( as far as I know), the ratio between filers vs known jobs.

If a company sends it to India, the job is closed here, but the fired guy is counted as unemployed. The rate goes up. Your jobless people will be counted and make a difference even though it's over a 10 state area. The H1B’s,....you got me, I don't know. I can't figure we would import a worker, and then count him as unemployed if he is hired or fired. If we import an H1B, and then his job moves, is he allowed to draw unemployment, or is he sent home? The job he took was here before, but we just hired outside the US pool. I'm just not sure about that one.

40 posted on 03/07/2008 8:25:55 AM PST by chuckles
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To: american colleen
I recall these kids going out to firms and doing paper and pencil auditing/accounting work (grunt work) just so they could progress to the point where they could apply what they learned in school to the real world. Where do you get that experience now?

The ground level experience is actually better now. Before automation, the entry level auditors would sit at a table with a ten-key adding machine and a stack of client papers and do nothing but add numbers. Now, this is handled in Excel, so the entry level auditor spends his/her time analyzing the numbers, interviewing the client, and developing a better understanding of the numbers than if he/she were just being used as a human adding machine. In other words, there is still "grunt work," it is just at a much higher level.
41 posted on 03/07/2008 8:29:39 AM PST by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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To: VegasCowboy
Glad to hear your perspective, VC. I suspect the availability of senior positions will increase as the Boomers start retiring.

I've also grown weary of being told how "overqualified" I am. Sometimes, you can't win for losing.

42 posted on 03/07/2008 8:30:28 AM PST by Night Hides Not (Forget it...I'll never be able to pull the lever for McCain!)
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To: chuckles
OK, thanks!

In my own case, my job hasn't been outsourced, it's been offshored (feels the same though) -- meaning, the company has redistributed its workforce - the world is flat. I could relocate to India and work at my job there, but... A lot more companies are going that route and cutting out the middleman (WiPro, Accenture, Tata, Infosys, etc).

The company has actually added to its payroll (hired 2 Indians for 1 American) although the jobs aren't actually in the USA.

43 posted on 03/07/2008 8:44:09 AM PST by american colleen
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To: chuckles

my understanding is that if an H1B worker loses their job they have to leave the country, I think they can stay if they find another job but they have a limited time to do it, something like 90 days.


44 posted on 03/07/2008 8:52:20 AM PST by houston1
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To: houston1
There has been alot of discussion about the unemployment rate being "false". The truth is it has to be understood to get the "feel" for what's happening. Just as an obvious example, housing is almost shut down. The workers are mostly illegals so their job losses aren't counted in the unemployment rate, but ARE counted in the lost jobs rate. We could lose several million jobs and the unemployment rate remain unchanged if the RIGHT jobs are lost.

The reason I'm so exercised about illegals is coming to the top right now. We have convinced ourselves that they are an asset, but they drain our resources and depress our pay. I recently complained about illegals being able to get bank loans, including house loans. I was immediately pooh poohed and told they couldn't possibly hurt anything by getting a loan. Now we are seeing the effect. A larger proportion of abandoned homes are illegals that lost jobs and went to Mexico, than ever before. We loaned money to illegals with no documentation, and then act surprised when they walk away. Where are the worst offenders? California, Nevada, Arizona, and Florida. Right now, the honcho's at Citigroup are in front of congress explaining their role in the sub prime mess. One,(Prince), bragged about how they had been working with La Raza to get more homeowners in their "communities". That community apparently has been "hard" hit.

I'm not saying they are totally responsible for the housing problem, but their contribution IS substantial. Many illegals are taking good jobs and depressing the wages of Americans. The TV always seems to show pictures of fruit pickers when talking about illegals, but the reality is that are taking good jobs and depressing our economy. They put their children in our schools, fill our jails, and emergency rooms and pay little or no taxes. If and when housing turns back up, the jobs will be filled with Americans if illegals are sent home and KEPT home. Then you will see higher wages, more jobs counted, and the figures will make more sense. Right now, a home builder can release 20,000 jobs and there is almost no impact on unemployment other than the stores that sell products to them.

45 posted on 03/07/2008 9:23:19 AM PST by chuckles
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To: ex-snook
Unemployment is down, payrolls are down.  So now we won't have to listen to the old saw about mom's leaving their kids so the family can make ends meet.
Series Id:          
Series title:       
Labor force status:  
Type of data:       
Age:  

LNS12300000 Seasonal Adjusted
Employment-Population Ratio
Employment-population ratio
Percent
16 years and over


46 posted on 03/07/2008 9:29:11 AM PST by expat_panama
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To: expat_panama; chuckles
"Guess Who's Getting the Most Work Visas"

Interesting article on H1Bs from Businessweek and just published today. There's a link to the top 200 American companies who use H1Bs.

"Many U.S. workers oppose any expansion of the program. They say H-1Bs let companies hire cheap workers from abroad, rather than Americans. They say the timing for expansion couldn't be worse, with the economy faltering. "Foreign workers are coming into the U.S., even though Americans need jobs," says Kim Berry, president of the worker advocacy group Programmers Guild. "It turns the intent of the H-1B program upside down"

47 posted on 03/07/2008 11:29:42 AM PST by american colleen
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To: driftless2
I look at the size of their stomachs. From travelling around the country the last six years I would say Americans are still living pretty good.

Or you could look at it another way, gym memberships cost money.

48 posted on 03/07/2008 11:34:26 AM PST by dfwgator (11+7+15=3 Heismans)
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To: Night Hides Not
I've also grown weary of being told how "overqualified" I am. Sometimes, you can't win for losing.

That's a shame. I agree, though, that the retiring of the boomers will open up lots of opportunities. Good luck!
49 posted on 03/07/2008 12:55:03 PM PST by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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To: Lazamataz

Well, if we’re all gonna die, can I at least choose the Leftists I take down with me?

Man, that would be sweet, LOL!


50 posted on 03/07/2008 7:35:35 PM PST by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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