Job losses seem to be accross the board

uscitizen

uscitizen

Villified User
Professional and business services — which include lawyers, accountants, architects and management consultants — led the way down in May, shedding 39,000 jobs, according to the report. Construction declined by 34,000.

Manufacturing lost 26,000 jobs. Retail payrolls shrank by 27,000 and transportation and warehousing by 10,500. Finance and insurance lost 3,700 jobs, amid continuing worries that more red ink lies in wait for banks.

http://www.nytimes.com/2008/06/07/business/07econ.html?_r=1&ei=5065&adxnnl=1&oref=slogin&partner=MYWAY&adxnnlx=1212841259-R54lIczIlSQ0xXah/hU1uw&pagewanted=print


Not even a college degree will save you.
 
Its gonna get worse before it gets better, record oil prices, layoffs, housing crisis and so much more. Im so tired of the so called fiscal party.
 
Don't blame Bush/McCain.

Things would be worse if Gore/Kerry/Obama/Dean/Edwards/Clinton were president.
 
I'm not religeous but thank god for the record oil profits.
It's going to be comical to see the turbolibs go through real bad time like 87 or the tech bubble. or 73
 
What will comical is when the oil companies become hated by america. Kinda like an addict hating his dealer.
 
Cypress said:
Don't blame Bush/McCain.

Things would be worse if Gore/Kerry/Obama/Dean/Edwards/Clinton were president.
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Yeah ask any of the numbnuts that voted for Bush twice and they'll tell you it would have been WAY worse if Gore had won in 2000.
 
uscitizen said:
Professional and business services — which include lawyers, accountants, architects and management consultants — led the way down in May, shedding 39,000 jobs, according to the report. Construction declined by 34,000.

Manufacturing lost 26,000 jobs. Retail payrolls shrank by 27,000 and transportation and warehousing by 10,500. Finance and insurance lost 3,700 jobs, amid continuing worries that more red ink lies in wait for banks.

http://www.nytimes.com/2008/06/07/business/07econ.html?_r=1&ei=5065&adxnnl=1&oref=slogin&partner=MYWAY&adxnnlx=1212841259-R54lIczIlSQ0xXah/hU1uw&pagewanted=print


Not even a college degree will save you.
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Interesting that the NY Times mentions two sectors where they claim growth, both lower paying.

Here's another source, not a better picture, but different:

http://www.csmonitor.com/2008/0609/p01s03-usec.html

...Last Friday, as the price of oil soared, Wall Street reacted badly, with the Dow Jones Industrial Average falling 394.64 points.

"The economy is now literally at stall speed," says Bob Gay of Fenwick Advisers in Rye, N.Y. "When the economy is operating at its potential, we can create about 100,000 jobs a month. But now, we are losing about 50,000 jobs a month."

The latest evidence of job slippage came on Friday, when the Department of Labor reported that the unemployment rate moved up 0.5 percent in May from April – the sharpest increase in the rate in 22 years. At the same time, the payroll survey found a net loss of 49,000 jobs, which means the economy has lost about 300,000 jobs so far this year.

The latest numbers may have been somewhat swayed by a large increase in the number of teenagers looking for work. Last month, the labor force increased by 577,000, including 261,000 who were between 16 and 19 years of age.

"In the recent past, the labor-force participation by teens has been very low," says Richard DeKaser, chief economist at National City Corp., a bank based in Cleveland. "But it looks like kids are back in the job market in a very aggressive way."

The challenges in the job market come at a time when many Americans are getting their tax-rebate checks in the mail. Discounters, such as Wal-Mart, have reported a sharp increase in sales as some of the money is spent instead of saved.

...
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Different or just expanded ? We are losing jobs at a time when we need to be adding them.

You might want to read the article I clipped from as well.
 
uscitizen said:
Different or just expanded ? We are losing jobs at a time when we need to be adding them.

You might want to read the article I clipped from as well.
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Oh I did, before looking any further. In actuality one finds education added many jobs, along with health care and restaurants.

Another bright spot, unlike the previous 'downsizing' periods, salaries are rising slightly, though not enough to encourage making workers pick up slack. What's needed is expansion of markets. Let's see how Obama wishes to address that.
 
Kathianne said:
Oh I did, before looking any further. In actuality one finds education added many jobs, along with health care and restaurants.

Another bright spot, unlike the previous 'downsizing' periods, salaries are rising slightly, though not enough to encourage making workers pick up slack. What's needed is expansion of markets. Let's see how Obama wishes to address that.
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In a country where 2/3 of our economy is based on what consumers spend does paying them less than enough to keep up with inflation help to expand markets ?
or does outsourcing jobs and manufacturing to overseas ?
 
uscitizen said:
In a country where 2/3 of our economy is based on what consumers spend does paying them less than enough.t to keep up with inflation help to expand markets ?
or does outsourcing jobs and manufacturing to overseas ?
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How do you think new markets open or new products appear? How does closing off of markets help? Should our economy be based on 2/3 or more being service industries?
 
Kathianne said:
How do you think new markets open or new products appear? How does closing off of markets help? Should our economy be based on 2/3 or more being service industries?
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our economy should be 2/3 based on manufacturing to have products to sell to markets.
 
Yes our standard of living will drop and stay lower than it used to be. They only question in the long term is how low will it go.

As I have said for years, that is the inevibable result of free trade and globalization on the USA.
 
how about in a country where a GED like USC can make more than an engineer in the countries that are getting the outsourced jobs.
 
And what is the avg income in India ? The standard of living ?

Not a fair comparision anyway considering my brilliance and experience.
Now if we compared topspin to an H1b worker .....
 
uscitizen said:
Yes our standard of living will drop and stay lower than it used to be. They only question in the long term is how low will it go.

As I have said for years, that is the inevibable result of free trade and globalization on the USA.
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Actually it is a result of costs and taxes and regulations, whether or not necessary in all or part is besides the question. The jobs are outsourced because it's cheaper.

My kids have all graduated college or are in the process of doing so, they don't want factory work. While they worked service industry work in high school/college, it's not where they are heading. it's a dilemma for sure.
 
we reduced taxes and regulation and things got worse. The junk mortgage problem is the direct result of less regulation.

But yes there are not easy answers. That is the main reason I think we are going down, how far how fast is the only question. Our gummit will not make the hard decisions for the long term.
 
uscitizen said:
we reduced taxes and regulation and things got worse. The junk mortgage problem is the direct result of less regulation.

But yes there are not easy answers. That is the main reason I think we are going down, how far how fast is the only question. Our gummit will not make the hard decisions for the long term.
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Nah, the trend has been there for over 40 years, through tax cuts and increases. The regulations have been increasing, unceasingly.

Take just the oil development problem. Look at TX, it wasn't tapped out, but it was easier and cheaper to get it in the ME. I don't know if on this board or another someone said, "The regulationists have been the oil companies best friends." It's true.
 
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