Skip to comments.Job market unlikely to recover until 2014 (shovel ready jobs not quite ready)
Posted on 09/04/2009 3:01:55 PM PDT by tobyhill
New unemployment data show why it will take years for the labor market to recover from one of its fastest and deepest declines since World War II, even if an economic recovery is around the corner.
The Department of Labor report released Friday showed job cuts in August were lower than they've been in recent months. But a deeper look at the data shows why it will take millions of new jobs to dig American workers out of this recession's deep pit.
Unemployment for teenagers stands at nearly 26 percent. More than 758,000 workers are so discouraged they quit looking for jobs altogether, by far the biggest such number since the Department of Labor started tracking it in 1994. Damage continues to mount in the manufacturing, financial and construction sectors.
(Excerpt) Read more at msnbc.msn.com ...
The only shovel that is ready is the one we will use to bury the Obama Presidency.
Obama’s CZARS sure have their high paying jobs...that’s your tax money going to these kooks who want to destroy you.
Well, that should give all the unemployed labor types adequate time to think about how all that hopey-changey stuff is workin’ out for them...
I don’t think we’ll ever see below 10% again.
The crowds are so sparse at my local McDonald’s, they’re down to a skeleton crew of teenagers working behind the counter during much of the day.
Unemployment here in L.A. is around 14%.
Congress can take the shovel-ready jobs since they will be receiving pink slips from the America people in 2010.
It’s closer to %20 in reality. They stop counting people who can’t find work after long enough. During the Great Depression they counted people out of work. Unemployed. If we did that now the numbers and trends would look increasingly dire.
Bush unemployment was around what 5%?
or is it that by 2014 we have rid ourselves of all the Rats and Rinos and White House mice, and elected Sarah Palin who played the Reagan card and shrunk taxes and government and stopped the Obama insanity thus ending the GDII and igniting the biggest economic boom yet again in world history?
Much of the day including - lunch time? I hear you. I just wonder what these people are doing now? Staying at home and eating baloney sandwiches? I guess MC’Ds does not take those food stamp credit cards.
The old physical food stamps created some shame for some people to go out and work harder. The modern credit card looks like a reg CC when you are in line at a grocery store. You cannot tell unless you are paying really close attention.
It was low enough for it to be considered full employment.
sorry about the run-on sentence, I tried to say that all in one breath : )
I just came from Food 4 Less on Sunset and every time a long weekend comes up, the Friday noon is usually packed.
Not today at noon. There were no crowds. Also the prices have gone up 30 to 40 cents.
if they are predicting that far into future then its not going to happen...just more government growth....Im going to plow up my back yard so i can feed my neighbors.
The Ralph’s supermarket near me is never crowded. There are ususally only three checkers at the busiest times. Shelves are fully stocked, but the Campbell’s Chunky Soups and Progressos are not moving at $2.99 a can. They’ve been priced like that for months now, and nobody’s buying. I’m waiting for there to be a sale and I’ll stock up.
It’s so funny, one of the cereals I like (Quaker Oat Squares) is usually priced at $5.19 (!) a box, and every so often discounted to $2.00/box. It quickly sells out at the lower price. Who’s going to spend five dollars for a box of cereal?
The 99cent Store down the block is always packed, however. Long lines.
The local mall is almost a ghost town. Wal-Mart, though, is full of customers speaking Spanish.
You shop at Ralph’s? The only thing I buy there is milk..and eggs if they have the 99c special. I agree with the Campbell’s and progresso’s. That’s also the same price at F4L. The Kroger’s went up 30 cents and usually since today, you could buy 2 for $3. Now it’s $1.88 per.
The 99 cents store in Hollywood is always packed. Where else can you find BBQ chips (BIG bag) and 3 liter pop for a buck?
So if this nightmare drags along until 2014, with 20% of would-be workers unemployed, houses lost, businesses shuttered, food banks depleted, honest family men begging in the street in my once-prosperous DC suburb—how is this different from the Great Depression?
The difference is the MSM has their hero. A hero that has done nothing in his life except do drugs and protest. A hero that has never run a thing except a street corner.
Sold my old business and moved to another state. The business model I used is falling flat on its face in the new state I moved to.
I’m tinkering with it and trying to find the right formula, so far with little success.
I deal business to business and am not involved with the consumer market, well, only peripherally.
It’s a tough market - no doubt.
People seem to be afraid and the fear comes from the unknown generated by the fascist pigs in Washington.
People are eating, buying gas, paying mortgages and rent, etc., so it’s not like the market is dead. In fact, the flea markets here are doing huge amounts of business - food, weapons, ammo, clothing, cookware, &&...
This morning I think I found a small niche market I can move into.
If not, I’m looking at smuggling or printing “Have Gun Will Travel” business cards as a career.
That’s not a difference. Last time they had Franklin Roosevelt.
I wasn’t around for FDR but with everything I’ve read about him all I can say is, the MSM loves the losers.
Unemployment here in L.A. is around 14%.
Hmmm, the federal minimum wage was increased in July.
Many on the right opposed the increase on the grounds that it would drive up the unemployment rate among teenagers and young adults.
And that’s what’s happened.
If they don’t completely sink us before then.
Now there’s a good plan.
Politicians that will be thrown out of office can take the shovel ready jobs at their local garbage dumps. I would add that is where they belong or perhaps in the sewer.
In the Great Depression, mainstream America had faith in Christ.
I’m from the Omaha area. Fast food joints are ghost towns but Dollar General and Walgreens are packed. Malls are generally empty.