Get in there and SELL!
Posted on 07/14/2009 8:56:40 AM PDT by reaganaut1
The recent unemployment numbers have undermined confidence that we might be nearing the bottom of the recession. What we can see on the surface is disconcerting enough, but the inside numbers are just as bad.
[...]
Here are 10 reasons we are in even more trouble than the 9.5% unemployment rate indicates:
- June's total assumed 185,000 people at work who probably were not. The government could not identify them; it made an assumption about trends. [...]
- More companies are asking employees to take unpaid leave. These people don't count on the unemployment roll.
- No fewer than 1.4 million people wanted or were available for work in the last 12 months but were not counted. Why? Because they hadn't searched for work in the four weeks preceding the survey.
- The number of workers taking part-time jobs due to the slack economy, a kind of stealth underemployment, has doubled in this recession to about nine million, or 5.8% of the work force. [...]
- The average work week for rank-and-file employees in the private sector, roughly 80% of the work force, slipped to 33 hours. [...]
- The average length of official unemployment increased to 24.5 weeks, the longest since government began tracking this data in 1948. [...]
- The average worker saw no wage gains in June, with average compensation running flat at $18.53 an hour.
- The goods producing sector is losing the most jobs -- 223,000 in the last report alone.
- The prospects for job creation are equally distressing. [...]
(Excerpt) Read more at online.wsj.com ...
Look, over there, it’s Michael Jackson’s corpse!!!
Our company did not layoff, but we all got 20% reductions in pay. That’s got to affect the economy and there should be some sort of “number” for that.
I HATE this administration...they are EVIL!
Yes people, there is EVIL in the world and (by far) the LARGEST cause of genocide/murder, etc is because of corrupt GOVERNMENT...which is all of them!! PERIOD!!
MAKE HERE MAKE NOW
YEP....my husband’s company has been laying off.....froze wages (for EVERYONE) and quit contributing to the 401K....looking forward to the upcoming August announcement....probably a cut in pay....and less benefits....PI** on Obama and his administration....and on all Democrats for that matter!
No worries..Goldman Sachs is still making money.
Yeah... he seems pretty confident... (rolling eyes)
but....but.....my local news said things were alookin up......they even said there were jobs available....in other states of course.
They know you will just think the problem is where you live.
Oh the lies and the spinning just continue.
Get in there and SELL!
If your company starts cutting wages and stopping 401k contributions, get your savings and contingency plans in order.
Once they cut wages, etc, layoffs are just around the corner. A couple weeks after the company I worked at cut pay, they began to offer buyouts. Then came rumors of unpaid furloughs, shortly after, they cut half the staff and put another quarter of the staff on 1/2 time.
Things are really bad right now. I’ve got enough savings to last a couple years, assuming we don’t get hyperinflation.
Sorry to hear it. My employer stopped making contributions to our retirement plan; a de-facto pay cut of about 7%.
But... but... The One said the Stimulus accomplished its objectives... did... did he... LIE????????
I read this article this morning and have been a little depressed ever since, no pun intended. Discouraging information.
Don’t worry Mort Zuckerman couldn’t find his ass using both hands. If he thinks this it’s probably good news.
Green shoots!! Generational buys are everywhere, especially financials!! LOL!
I was talking to a client of mine and he said his company didn’t do the baseball season ticket thing this year. He continued “And it’s too bad too. With only half the employees that we have compared to last year - we would have had a lot better chance of getting to a game!”
Obama has officially killed all the jobs created by W.
If a president simply reads what is written on the teleprompter, is it really a lie?
Perhaps we need a Costanza ruling. It’s not a lie if you believe it.
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