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The Great Recession, death, and anything else...

Discussion in 'The OT' started by phrelin, Aug 6, 2009.

  1. Mar 9, 2012 #381 of 404
    James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    Unemployment reflects the people who are not employed and looked for a job within the last four weeks. If one has a job or are not looking one is not "unemployed".

    Good news in January and February ... the overall number of jobs in the country went up by a large number each month. But bad news - people who were not "unemployed" because they were not looking saw the news about new jobs being available and rejoined the ranks of the counted unemployed. More available jobs leads to a higher unemployment rate.
     
  2. phrelin

    phrelin Hall Of Fame DBSTalk Club

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    You're right, of course. It just drives me nuts when I read the headlines about employment "recovery."

    They just released the figures for January for California and things sound just rosy in the press reports.

    Except we still have 1 million folks looking for work because the "workforce" increased. Basically, for the four years all we've done is provide jobs to offset the typical workforce growth. We're not anywhere near "recovering" the number of jobs that were lost during the job crash that started at the end of 2007 ended in January 2010.

    The workforce number crashed by the end of 2009 - people weren't in the workforce, there was a drop in the workforce number. All of a sudden they're back in the workforce and California is reporting 306,000 more people in the workforce than in 2008. We still have 780,000 fewer jobs. We're still down by a million in the reported numbers. And my guess is that the real workforce is understated by at least 200,000.

    It's obvious to me more and more people are dropping through the cracks or taking the equivalent of a huge demotion.

    And where the largest job growth is occurring is where we've had two employment bubbles in two decades - the tech sector. Cool new technology creates a demand, then it cease to be new and not so cool and those workers are laid off. That's how the Bay Area/Silicon Valley ended up with the same number of jobs at the end of 2010 that it had in 1990.

    We need to do better, somehow. And it seems like that ought to start with an honest evaluation in the press, on Wall Street, and by government. But who am I other than just the grumbling old guy in the corner worrying about his grandkids.
     
  3. Davenlr

    Davenlr Geek til I die

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    Cant be to bad in California...two people I know quit their jobs here in Arkansas and moved to California to take jobs at twice the pay they were getting here, doing the exact same thing. Wont ever fix unemployment there if you are importing workers from other states :)
     
  4. Matt9876

    Matt9876 Hall Of Fame

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    That is another thing that angers me, many of these new jobs come with about half the pay and they still expect 110% out of you, Meanwhile the cost of everything is going up!
     
  5. MysteryMan

    MysteryMan Well-Known Member DBSTalk Club

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    +1......I love the way the news media hypes job growth as if they're all well paying jobs.
     
  6. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    My household income dropped 20% between 2008 and 2010 (then stayed level in 2011). I had an employer who cut everyone's wages 5%, then another 2 1/2 %, then started cutting people completely. I can confirm that the owner did not expect 5% then 7 1/2% less work out of the staff. Even after layoff the owner expected people to help out when the remaining staff couldn't solve a problem.

    This employer wasn't good about giving out raises when the economy was good. Raises never kept up with inflation and payroll was nowhere near the market rate for the jobs being performed. That 5% then 7 1/2% total cut put the staff below what they were paid 10 years prior (or below their hiring rate if they had not been there 10 years).

    "The Great Recession" has given employers an excuse to treat their employees poorly - some employers had been practicing treating employees badly for years, even during good years. For the bad employers it provides an excuse and served as a trap. "Sure your job sucks but go find another. Not so easy, eh?" As the economy improves those employers will lose their excuse - and hopefully their staff will be able to move on.

    There are good employers - those that had no layoffs over the past few years and even provided raises every year over the past few years. But too many use the recession to cut wages and benefits AND ask more of their employees than they did under the higher wages.
     
  7. dpeters11

    dpeters11 Hall Of Fame

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    But I'd bet cost of living is higher.
     
  8. phrelin

    phrelin Hall Of Fame DBSTalk Club

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    From the Marin Independent Journal comes this Belvedere couple pays $4.2 million for a yard and a view:
    Clark Winslow is the founder and CEO of Winslow Capital Management.

    The house marked with the "A" in the Google Maps view below is the one being torn down, with the Winslow's house to its right:

    [​IMG]

    Here's the view from the Winslow's house in the other direction looking at the Golden Gate Bridge, San Francisco, and Sausalito:

    [​IMG]
     
  9. yosoyellobo

    yosoyellobo Icon

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    I suppose they could have left the house alone and turn it into a homeless shelter. Does it really makes any difference if they paid 19 million or 25 million for their house.
     
  10. dennisj00

    dennisj00 Hall Of Fame

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    And Larry Ellison buys 98% of Lani, Hawaii.

    For some reason I always thought the cost of Oracle was overpriced!
     
  11. Jul 3, 2012 #391 of 404
    phrelin

    phrelin Hall Of Fame DBSTalk Club

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    Continuing with the theme of "how the other half lives": New Home Demolished Because Garage in Wrong Spot: T
     
  12. Jul 3, 2012 #392 of 404
    wilbur_the_goose

    wilbur_the_goose Hall Of Fame

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    I'm far from a Bible thumper, but Matthew 19:24 seems relevant with those stories.
     
  13. Jul 4, 2012 #393 of 404
    phrelin

    phrelin Hall Of Fame DBSTalk Club

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    :grin: I think the Patent Office has a work-around proposal for that one from some guy in Silicon Valley:

    [​IMG]
     
  14. Jul 4, 2012 #394 of 404
    Nick

    Nick Retired, part-time PITA DBSTalk Club

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    ^ That is a great invention and it surely must meet a need in those parts of the world where camel overpopulation is a problem. But instead of circular saws, I would suggest employing oscillating 48" logger's chain saws, hinged at the frame for maximum swing.
    Perhaps the Saudies could use such a device to dispatch their elderly and dying camels. The 'eye of a needle' part is pure genius and absolutely proves the bible wrong.

    Can anyone say Soylent Red?
     
  15. Jul 4, 2012 #395 of 404
    wilbur_the_goose

    wilbur_the_goose Hall Of Fame

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    Shoot - that's funny! Thanks for the laugh :)
     
  16. phrelin

    phrelin Hall Of Fame DBSTalk Club

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    As some of you know, I've been distracted from my retirement activities and thus have ignored the economic news. But I was really excited to learn about the housing turn around here in California so I thought I would share this California 2012 Million-Dollar Home Sales Highest in Five Years which tells us:
    So if you have a $5+million home you want to get rid of, it's a sellers market! :rolleyes:
     
  17. houskamp

    houskamp Active Member

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    million dollar home is a one room shack there :lol:
     
  18. phrelin

    phrelin Hall Of Fame DBSTalk Club

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    You can pick your story this afternoon but the Washington Post headline is a good example US household wealth tops pre-recession peak on rising stock market and higher home prices. Reality, of course, is a bit more complicated. Some of the articles will at least admit that the gain has accrued more to the wealthy. But Moody’s Analytics economist Scott Hoyt offers a full reality check:
    A PDF of the report can be downloaded here.

    All I know is that my "financial assets" haven't climbed back comparable to the line depicted in this graph:

    [​IMG]
     
  19. Mark Holtz

    Mark Holtz Day Sleeper DBSTalk Club

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    The caveat is that it isn't inflation adjusted. Yet, I believe gas prices were higher than 6 years ago.
     
  20. yosoyellobo

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