Submitted by
Users who Dugg This
Ali Qayyum
4891 Followers
quickdigger
5219 Followers
MandaPanda
440 Followers
gatofuerte
721 Followers
Sean Buckley
578 Followers
Russ Smith
18390 Followers
Ben Wandering
468 Followers
ageofmasteryApr 3, 2011
Not sure what to say, but the company I work for provides services to other companies and we've been so busy this is the first day in 3 weeks I haven't had to work.
We've hired people and added temps because a lot of other companies, (including Amazon and Del Monte Foods) seem to think their business is going up as well...
Anecdotal I know, but it seems like business is recovering
dmm219Apr 3, 2011
i've heard this same anecdotal stories dozens of times over the past 2 years...in two months, business will be back down again...just like the last dozen times...Comment is buried, click here to see the rest.
roguegeniusApr 3, 2011
Number 5 is the kicker: "5. Wages aren't rising, but the cost of living is"
THAT is what it killing us. Not unemployment, not taxes. Nobody can afford anything. No demand. Obama is the best president of my lifetime, but he is still no FDR.Comment is buried, click here to see the rest.
rudegarApr 3, 2011
a president can't really do much to regulate wages or cost of living
goweigusApr 3, 2011
President could decrease cost of living by pumping Middle East s**t Conflict money into our country instead (instead of some money getting back through contractors and military industry, put it all into something more beneficial like building infrastructure).
blklightningApr 3, 2011
wow. that's pretty impressive grammar for a three year old.
blklightningApr 4, 2011
apparently, at least 11 people either don't understand what i said or they too believe obama is the greatest president of the last 20-80 years. i will go with the former.
roguegeniusApr 3, 2011
No, but he has the bully pulpit. He never uses it. He could also manufacture government jobs. Our infrastructure is collapsing, but we don't do anything because nothing is 'shovel ready.' Good. That's still MORE work that could be done.
bookantApr 3, 2011
I love that the WSJ is finally figuring this out. They're only about 30 years late.
norman619Apr 3, 2011
"THAT is what it killing us. Not unemployment, not taxes. Nobody can afford anything. No demand. Obama is the best president of my lifetime, but he is still no FDR."
Oh bulls**t. You have crazy tunnel vision. It seems it is impossible for you to see the bigger picture. So you believe if everyone got a raise all would be fine? LOL!!!! You are ignoring all the problems which together have gotten us to where we are.Comment is buried, click here to see the rest.
roguegeniusApr 3, 2011
No, actually I'm not. I'm simply pointing out the one problem we REFUSE to acknowledge. The biggest problem. One so big that all the other 'fixes' don't matter. We are absolutely trapped until we address this issue. That is a fact.
We are in the middle of a heart attack. And both parties are VERY worried about hangnails.
yibbutkeenApr 3, 2011
Carter all over again - stagflation.
schmuckofniApr 3, 2011
How can you say that when he is getting us into yet another police action that has solved next to nothing and still has no real solution the the job crisis.
mattbdApr 3, 2011
One thing this article doesn't mention - I don't know if this is happening in the US, but over here many of the jobs that are being created are part-time while the ones that are going are full-time. Also many of the created ones are much crappier jobs in places like supermarkets and fast food chains.
bluenoseboyApr 3, 2011
Thank the Unions for that.
norman619Apr 3, 2011
Actually no. This is the recession still having a grip on our country and the world.
bluenoseboyApr 4, 2011
Manufacturing is virtually dead in North America because of Unions forcing employers to pay unskilled and semi-skilled workers exorbitant wages and benefits.
norman619Apr 4, 2011
The loss of manufacturing didn't get us to where we are. Our nation has the mind boggling amount of debt it has thanks to our living well beyond our means. Once our politicians learned they they finance the spending they wanted to do it was the first step on the road which lead directly here. Many economists have been warning us about this for a very long time but the politicians only cared about one thing. Bribing the people so they could get re-elected. It'd be fairly easy to bring manufacturing back but the people who have gotten used to getting over paid and insane benefit packages will not be happy. But yes teh failure of manufacturing n the US is the fault of the unions.
roguegeniusApr 3, 2011
Thank Milton Friedman for that.
JustSayNoPartyApr 4, 2011
Really? Another reason to demonize unions? Seriously, when we choose our Boogeymen, it should at least make sense. What percentage of jobs are under Union protection today? Norman on the other hand puts his finger on the issue.
bluenoseboyApr 4, 2011
Manufacturing is virtually dead in North America because of Unions forcing employers to pay unskilled and semi-skilled workers exorbitant wages and benefits.
JustSayNoPartyApr 4, 2011
You're right. Tha is part of the story. Also, inept management and a drive to 'very cheap' labor is the other part. I'm not sure workers here would have accepted $1/hour.
bluenoseboyApr 4, 2011
It's attitude too. I've worked in Unionised shops, and the attitude is terrible. The "us versus them" mentality and the "management is always out to get us" mindset have both contributed to the near-death of our manufacturing industries.
JustSayNoPartyApr 4, 2011
I've worked in union shops as well (lived in Detroit). The mindset of many Union Workers was simply not sustainable in a competitive world. Unfortunately, I see a need for Unions. Just not the form of Union that many of the 'larger and bureaucratic, unions took.
roguegeniusApr 3, 2011
That's THE problem. And nobody ever addresses it.
MyWeeblyApr 3, 2011
Not sure to believe this, depends on who was doing the survey, `cause here in sunny s.a, one can not always believe what is said.
str3amaApr 3, 2011
They say if you've been unemployed for 9 months or more, the probability of you finding full time work decreases.
What people are really missing is that most of the jobs that are being created are contract positions that pay less, give no benefits and are either seasonal or temporary for the purposes of having high turnover so that they don't have to promote workers and can instead get new workers to replace roles and keep wages/costs down.
dmm219Apr 3, 2011
when the majority of the jobs created are far worse, temp and pay far less, with no benefits...its NOT a recovery. Just deflation. Which will continue to happen and be painful for another decade.
norman619Apr 3, 2011
Thank you. People don't get that we are in this for a long haul. There is no magic fix that will make it all go away in months or a couple years. And those responsible for the insane debt our country has built up still refuse to address it and instead wish to borrow even more.
bluenoseboyApr 3, 2011
They forgot debt, debt, debt and more debt.
All Americans should start learning Chinese if they haven't already.
norman619Apr 3, 2011
Why? You have any idea who holds the lion's share of our debt? The Fed. China is only the largest foreign holder of American debt. He have been monetizing our debt even when the Fed promised it would not.
laurahoustonApr 3, 2011
yup, those walmarts-superstores galore- closed down many small businesses in all the areas they built on. The locals in those areas were dazzled by the sales tax income for their area and so gave low leases for the land to build on. Now they have their sales tax income from the sale of cheap goods...and all the small local businesses are out of work.
zoning and property tax rates also outpriced the small businesses and many don't allow home based small business at all. of course special tax breaks for the mega stores or no tax at all.
How many thousands of small mom and pops closed down with the big change over the past? oh 10-15 years? a lot.
china now owns the regular small necessities of life part of america. and gets those 'profits' , everything they sell is 'made in china'
norman619Apr 3, 2011
"those walmarts-superstores galore- closed down many small businesses in all the areas they built on"
The Walmarts didn't close anyone down anyone. The people in those areas chose to patronize Walmart over those mom & pop stores. Nothing wrong with that. Business isn't about charity. It's competition. If you can't compete then you go out of business. This is how it's always been.Comment is buried, click here to see the rest.
JustSayNoPartyApr 4, 2011
I disagree, Norman. There is something wrong with this. Laura makes several important points. Yes, perhaps competition led to the closing of thousands and thousands of small businessess. But, this is not a good thing overall. It does mean lower wages, more importation, less community, etc. I would count it a good trend if we started seeing local businesses return. It's not a good thing when a community becomes taken over by mega stores whose home office is a thousand miles away.
I believe, in the end, the Wal Mart model has hurt far more than it has helped. Lower costs at what price to the country?
norman619Apr 4, 2011
I don't agree. the people could have chosen to keep patronizing the smaller stores. They chose not to. Walmart gave them an option and they chose. That is how business is supposed to work. Is it sad to see the end of these small sops? Sure but times change and they can no longer compete. That is life.
JustSayNoPartyApr 4, 2011
I can't disagree with your comment generally. But for our economy, this 'choice' may end up being bad overall. It's a trend towards lower wages, worse jobs, and worse service.
roguegeniusApr 3, 2011
Here is the beauty (and by beauty I mean self sustaining death spiral). China owns a lot of our debt, our economy is tanking, China sends more money. Why? Same reason we bailed out Freddie Mac.
Congrats, America: You have become Goldman Sachs. You are too big to fail.
So walk that tightrope VERY gingerly. There is no net.
norman619Apr 4, 2011
Well given that world economies are not interconnected if any of them fail it's bad for everyone. Why do you think a small country like Greece was given $146 billion to keep it a float? You talk as if the US is somehow unique when in reality we are not.
roguegeniusApr 4, 2011
That's true (as far as it goes). But stupid policy in Greece caused all this problem. Can you imagine what stupid policy in the US would do? Well, look around. Stupid policy in the US is the major cause of the current world crisis.
norman619Apr 4, 2011
You really believe that? Greece and many other governments have been living just like the US government has. Living beyond their means. This mess was a long time in coming. Many economists saw it coming and tried to warn the various countries but none would listen. Why? Because they cared more about placating the masses and ensuring they get re-elected than making the unpopular choices which were best for their countries. Contrary to popular belief this mess was not caused by Wall Street. They and the banks have become popular scapegoats. Fact is this mess is the failure of governments. Not just one.
roguegeniusApr 4, 2011
Now you are just looking for things to disagree about. That's pretty much what I said. This whole problem could have been alleviated, if not eliminated, by competent governing.
roguegeniusApr 4, 2011
Oh, and how long has this been going on? Since Reagan came into office, with one brief interruption during the Clinton administration. Not until Milton Friedman did we even entertain the notion that debt didn't matter.
People falsely attribute that stupidity to Keynes, but that was pure Friedman. Keynes said no such thing.
JustSayNoPartyApr 4, 2011
Greece does not equal the U.S. There are some similarities. But the fact that almost noone payed their taxes in that country did not help.
rethreadApr 3, 2011
Haven't seen a raise in 5 yrs. Steady work, but nobody has gotten raises and Anecdotal adds up after awhile. Anybody seeing new jobs?
norman619Apr 3, 2011
There are plenty of part time jobs! I'm looking to relocate. IT is my primary profession. I've been doing it for well over 10 years and have a compsci degree. The only things I've been finding are short term contract work. I get calls almost everyday and it's always for the same s**t. 3 to 6 month contract work. Regular full time positions are hard to find.
laurahoustonApr 3, 2011
I see plenty of jobs online website- working for the gov patroling the 'fence' and for TSA google jobs in those areas, they are hiring. you may have to move closer but they do have very low requirements and have insurance.
far as the people I work for,mainly wealthy people.......they seem about the same to me over the last many years. The econs not 'hurting' at all, new cars always, kids, wife don't have to work, nannies, maids, house staff, remodeling their homes regular,lovely resort vacations -same as it has always been. gated heavy zoned small communities to keep the peons out.
evenflowdaveApr 3, 2011
Thanks Bankers!
mickrussomApr 3, 2011
BZZZT 8.8% is made up.
its 10% U3 and 20+% U6.
http://www.gallup.com/poll/146900/gallup-finds-unemployment-rate-march.aspx
Gallup Finds U.S. Unemployment Rate at 10.0% in March
Underemployment falls to 19.3% from 19.9% at the end of February
by Dennis Jacobe, Chief Economist
PRINCETON, NJ — Unemployment, as measured by Gallup without seasonal adjustment, was 10.0% in March