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Nofsdad
Joined: 06 Jul 2003
Posts: 6744
Location: Central CA
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Posted: Thu Jul 03, 2008 2:14 pm Post subject: Employers cut jobs for 6th straight month
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| WASHINGTON - Employers cut payrolls by 62,000 in June, the sixth straight month of nationwide job losses, underscoring the economy's fragile state. The unemployment rate held steady at 5.5 percent. |
Once again, the unemployment rate fails to address the number of people who dropped off the unemployment rolls when their benefits ran out, whether they had found a job or not.
It also fails to take into account large numbers of people who lost full time high paying jobs and have had to accept low paying service jobs at a fraction of their former pay and hours... and who couldn't AFFORD it.
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| Heavy job losses in construction, manufacturing and financial services, along with cutbacks in retailing, eclipsed job gains in education and health services, leisure and hospitality, and government. |
I guess I'm just being pessimistic again. According to those who remain relatively unaffected by our economic situation today, I should be looking at things like the fact that there are 62,000 fewer people driving back and forth to work burning all those fossil fuels and the fact that they'll have less to spend on food so they should lose weight so they won't need all that health insurance and like that there.
There are so many reasons to feel blessed that we're living through the most %$#!ed up economy since 1930... I've really got to get into that "glass half full" mindset before somebody notices that I still have a glass and steals it too.
The Rest Of The Story
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Magnolia
Joined: 26 Aug 2005
Posts: 1369
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Posted: Thu Jul 03, 2008 2:20 pm Post subject:
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It's hitting my extended family.
I have three early 20's nephews - all suddenly out of work. Fortunately, only one has a family to support.
All of them lost their jobs due to their employer completely shutting down. One was a mechanic at a large truck stop on the interstate. They can't afford to support extra services.. because all their profit is disappearing.
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Nofsdad
Joined: 06 Jul 2003
Posts: 6744
Location: Central CA
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Posted: Thu Jul 03, 2008 3:10 pm Post subject:
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My family has been lucky so far... two of the boys are career military but one son-inlaw who left the Navy earlier this year for a good job in a housing related industry is beginning to sweat a little about the decision.
Hopefully, he'll be OK as long as the plant where he's Ops Manager remains open but if the housing/construction spiral continues, that's not guaranteed by any means.
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dictators_rule
Joined: 08 Jul 2003
Posts: 4793
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Posted: Sun Jul 06, 2008 2:35 am Post subject: fake movie sets and credit cards
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Many would rather have a fragile economy rather than wait a little longer for a stronger economy that won't be so cyclical.
But that means you would have to actually deal with problems like education,immigration,OIL prices,housing etc.Those in control need that illusion that everything's fine and dandy when it's not.
The sheeple of America need instant gratification or have trained to expect such so no real solutions to the issues that plague our economy will ever be addressed.And I hate to say it but the average citizen has to wake up and stop being herded into debt.Because debt not only gets the individual in trouble but masks other problems such as low pay,not enough well paying jobs,no jobs period,perpetuates inflation and the myth that things like call center need to be outsourced because of the volume and COSTS involved.The vig on debt takes out of future activity on the economy.
Debt is the illusion that YOU can afford to do "it",to participate in the society with the latest trends and fads wether it be an SUV or house when you should be walkin,renting and thinking about how messed uip things ARE and planning to do something about it personally and politically.
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