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Thread: Five Million Workers to Exhaust Unemployment Benefits by June

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    Re: Five Million Workers to Exhaust Unemployment Benefits by June

    It is inevitable that the U.S. will hit a depression far worse than the great depression.....whether or not there is an extension. The extension will just put it off just a little longer.

    If there is no extension, then when the 5 mil. people lose their unemployment it will begin a snowball effect where their money is not going into the economy and will lead to even more job losses. As the unemployment runs out things are going to spiral down quite fast and then this country will literally become bankrupt.
    Last edited by creativedreams; 02-17-10 at 01:11 AM.

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    Re: Five Million Workers to Exhaust Unemployment Benefits by June

    Dana I disagree. I looked for work for a long time. I made more on unemployement than working. I am skilled laborer with over 20 years experince.
    My age 48 made it hard for me to get a job. I posted resumes on career builder in INDIANA, Ohio and Kentucky.
    I have never had any trouble finding work in my life until now.
    This may be hard for you to believe but its true. I like you would do anything
    Until I got something better. But it was hard to find anything- that wouldnt hurt more than it helped. I done the only thing I could do. Took my savings and I opened a small business. I work for myself now, and get apartial pension and my wife works. I know alot of people who have gave up. We made good money. One of my former co-workers drives about 30 miles one way for$12/hr
    He is A journeyman refrigeration mechanic.Times are hard.

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    Re: Five Million Workers to Exhaust Unemployment Benefits by June

    Quote Originally Posted by Goldenboy219 View Post
    Who would rather become underemployed taking home $400/week working 40 hrs if they can earn $425 sitting at home pretending to fill out job aps three times per week?

    First time claims for unemployment fell last week, but this will continue to be a bumpy ride as capital investment will be the first choice of investment. Then comes labor. Dork mode on: once the marginal product of capital begins to experience diminishing returns, we will see job creation pick up steam as firms shuffle to maintain profitability.
    The capital isnt used much here its invested in asia and other markets.
    The manufactuerers have been moving to lower wage markets.
    The capital follows them.Then there will be no new investment as , the capital will be used to maximize profits where it is invested at now.
    It will not come back. National Manufacturing has left.Thats why now the market has a hard time getting corrected . The capital needs us to buy the goods from the overseas markets they invested in. Thats why we had to bail them out. they invested our money in China . They spent it betting we would buy cheap goods and they would make profits.
    But because the unemployement increased due to more resources leaving America to support the New markets The capital markets Investment bankers etc. Didnt have enough here at home to help invest in the souring economy. Hence TOO BIG TO FAIL. SO we had to bail them out. Now its a zero sum game. We are at a stand still.Without investment we cannot start the economy ( Stimulis two).Literaly we must use Laws to compel the Investment in america again ; because now there is a stand off.The investments are used to support the former agreements wall street had in China and else where. The "american reinvestment and recovery act" is useless with out a law compelling investment here.( Where is Your pension fund)
    Last edited by b.larset; 02-17-10 at 02:43 AM.

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    Re: Five Million Workers to Exhaust Unemployment Benefits by June

    I don't think it's that people can't find work, but that they can't find work in the field they want, with the benefits they want, in the location they want, that will pay what they want.

    The going hourly rate for a dogwalker/maid/cook/assistant is still around $20/hr here in NY. I would gladly offer a trustworthy college graduate $10/hr to handle those things around my apt, but I can't find someone who is willing to take that job.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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    Re: Five Million Workers to Exhaust Unemployment Benefits by June

    Quote Originally Posted by RightinNYC View Post
    I don't think it's that people can't find work, but that they can't find work in the field they want, with the benefits they want, in the location they want, that will pay what they want.

    The going hourly rate for a dogwalker/maid/cook/assistant is still around $20/hr here in NY. I would gladly offer a trustworthy college graduate $10/hr to handle those things around my apt, but I can't find someone who is willing to take that job.
    I somewhat disagree. This recession has hit hardest those with lower incomes.



    However, the housing crisis has impacted labor mobility quite a bit. So I agree with you there.

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    Re: Five Million Workers to Exhaust Unemployment Benefits by June

    Quote Originally Posted by drz-400 View Post
    I somewhat disagree. This recession has hit hardest those with lower incomes.
    What you're saying is completely true, but I don't really think contradicts what I was getting at. The chart you're referring to indicates that unemployment is greatest among houses that have lower household income, which seems to be sort of a self-fulfilling statement. In a household where two people each earn $20k, your unemployment rate is 0% and you count toward the $40k bracket. If one of the workers loses their job, the unemployment rate is 50% and your household counts toward the $20k bracket.

    My larger argument is that there are very few people who are unemployed because there are absolutely no jobs despite their willingness to do anything. If a lawyer gets laid off, he will probably have a hard time finding work as a lawyer. However, if he wanted to, he could probably get a job as a mid-level office worker somewhere. If a mid-level office worker gets laid off, he would probably have a hard time finding work as a mid-level office worker. However, if he wanted to, he could probably get a job working at McDonalds or Best Buy. If a McDonalds or Best Buy worker gets laid off, he would probably have a hard time finding work at a comparable place. However, if he wanted to, he could probably find work making minimum wage and cleaning toilets or mopping floors.

    I'm not saying that all of those people should be forced to take those jobs, but rather that there is still plenty of unmet demand in the market, albeit at prices that workers are not very willing to accept.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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    Re: Five Million Workers to Exhaust Unemployment Benefits by June

    Quote Originally Posted by b.larset View Post
    Dana I disagree. I looked for work for a long time. I made more on unemployement than working. I am skilled laborer with over 20 years experince.
    My age 48 made it hard for me to get a job. I posted resumes on career builder in INDIANA, Ohio and Kentucky.
    I have never had any trouble finding work in my life until now.
    This may be hard for you to believe but its true. I like you would do anything
    Until I got something better. But it was hard to find anything- that wouldnt hurt more than it helped. I done the only thing I could do. Took my savings and I opened a small business. I work for myself now, and get apartial pension and my wife works. I know alot of people who have gave up. We made good money. One of my former co-workers drives about 30 miles one way for$12/hr
    He is A journeyman refrigeration mechanic
    .Times are hard.
    You have to be kidding me. The company I work for only grossed 1.2 million last year, which puts us in the category of a small business, yet we pay between 20-27 bucks an hour to qualified mechanics. Other HVAC/R companies in the Houston area pay even more. Your friend should move down here.
    Last edited by danarhea; 02-19-10 at 01:31 PM.
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