Posted on 08/05/2005 5:35:42 AM PDT by RWR8189
In July 207,000 jobs were created, above expectations, and the unemployment rate held steady at 5.0%
Upward revisions for May and June as well.
"It might be a half point this time."
Hopefully not, I would like to see what the economy would do if they left the rates alone for a while.
After all, the crude oil prices are stifling the economy as it is...
"The only employment problem I have (and I've talked with a bunch of other businessmen in my area who have the same problem) is that it's impossible to find people to hire, they just aren't out there. I have to go try to steal employees from my competitors."
Tuesday evening I went fishing with a friend who is a consultant in the health care business for profits and non profits. He said the biggest challenge for all the CEOs and execs and small owners is the shortage of skilled labor in the market.
Many of the CEO's and independent owners have gone to a bounty system. If an employee recommends a person who is hired, they get a bonus. If that person is still there after 6 months, the person who recommended them, gets another bonus. Then, if the new hire recommends someone, they get a bonus and so does the person who recommended the new hire.
I'm more interested in the limo franchise, you and your fellow hoboes will need to get you to the dry cleaners and your brokers and back to your commune.
Worst economy since Hoover, I tellsya....
It's considered full employment.
I distinctly remember the NY Times trumpetting the unemployment rate of 5.4% when Clinton was president as if he had turned lead into gold. Something tells me they won't be quite as kind to President Bush
Yes, as my macro-econ course taught me last semester.
I'm reading the same thing here in Wisconsin. There are lots and lots of jobs. Some are very good skilled labor positions. one needs only to be trained for the right kind of work in today's global economy. There are large sections of our economy that are insulated from outsourcing.
Really? When I was taking econ in the 70's, they said that the frictional rate was 4%. Of course, no one could remember when we'd had 4% unemployment, but my professors were quite certain it was 4%. Some even said 3%. If you'd said 5%, they'd have market it wrong on the test.
Actually, you are agreeing with me.
I believe that 5% don't want to work or they have old skills and bad habits that keep them from being hire.
You pegged it at 3%, "at least 3% of the population that is capable of working that just flat does not want to. Why should they, when they can sit on their butts all day, watch Oprah, and cash the govt check, go shopping with their foodstamps, and raise their 8 kids (from 5 fathers) in the subsidized apartment?"
Not just your opinion but fact! The average Unemployment figure over the last 40 years is 5.7%.
5% is damn good!
The emplyment rate is probably closer to 97% when you count the tax cheats working off the books in the underground economy.
In fact we are trying to keep the bropkers out of the 'hood (guess I should say "'ville.") Bad element, dontchaknow?
Good news.
I need to see stuff like this, because here in Ohio, it's difficult to tell. (Not Bush's fault). Our RINO governor who may be the worst governor ever, has ruined our state economy. Since I don't travel, I only see what's around me, and it's a mess. Amazing what one man can do in a position of power.
Robert Taft is wealthy, he will live out his days in a comfortable fashion, which is a shame. If the man is ever elected to another public office, the people who elect him deserve what they will get, (much trouble).
I wish Robert Taft good health, a long life, and personal economic troubles commensurate to what he's brought onto the state of Ohio.
I once had an Economics professor say that in our economy 5% unemployment is more or less full employment. He stated that a large number of those 5% are not working because, for a number of reasons, they left their old jobs and are looking for new ones.
One of the things I have found to be true, at least in my area, in findinding skilled labor, is the requirements. There may be 5 people that know all about a system, say version2, and are perfectly capable of learning versions 3 and 4, but are not hired, because they do not have version 3 or 4 experience. The market is so specialised, that it hurts itself. A perfect example are IT jobs requiring Microsoft or Cisco certifications. There are lots of techs around, that either already know how, or can learn real fast, but are not getting hired, because someone in HR, says they need a certification.
"Nonsense, what do you think the WiFi is for? Get with it, man. What do you think this is, the 1930's? "
Sure embarrass an old 66 year old Grampa, who is out of the hi tech loop like you and your electronic buddies.
I agree about keeping those brokers out of your "hood". Give them an inch, and they will end up with your Safeway carts and your new tech weenie stuff.
It's probably closer to 110% when you take into consideration the illegal alien workers..........around here the stores and companies all have signs "NOW HIRING" and the Mexicans and OTM's are all over the place, bless their hearts, ..........
Then the non humans in HR are the problem.
Set up an intern/training program where full time employment depends on successful completion of what is needed skill wise.
Is this Taft gut a descendant of the former President/Chief Justice?.......
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