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Topic: REAL JOBLESS RATE 12.5%!!

osubucks30
Member

posted

Link:
http://www.bloomberg.com/apps/news?pid=20601068&refer=home&sid=aJikdmHyr2vk

"More Americans than ever worked only partial days in November as the deepening recession prompted companies to cut full-time employment."

" The number of Americans saying they worked part-time last month due to economic reasons -- either because their hours were cut or they couldn’t find full-time jobs -- surged to 7.32 million, the most since records began in 1955, from 6.7 million in October, the Labor Department reported today."

"Counting part- timers who would prefer full-time work, as well as discouraged workers who are no longer looking for jobs, the jobless rate would have jumped to 12.5 percent from 11.8 percent in October. "

Posts: 1458 | From: Ohio | Registered: Mar 2004 | IP: Logged |

osubucks30
Member

posted

This is why the way the government does the numbers it is nearly impossible to get t 10%. Not the same way they did it in the 80's. They got to make the data look better. [Roll Eyes]

Posts: 1458 | From: Ohio | Registered: Mar 2004 | IP: Logged |

jgrecoconstr
Member

posted

Count me in. I've only been working a couple days a week and very shortly that is going to disappear also.

Posts: 492 | From: new york | Registered: Jul 2005 | IP: Logged |

Propertymanager
Member

Rate Member

posted

...and that 12.5% number doesn't include the tens of millions of lazy deadbeats that would never even think of working, let alone look for a job.

Real unemployment is certainly far in excess of 20%.

Posts: 1577 | From: Ohio | Registered: Oct 2007 | IP: Logged |

Peaser
Member

posted

Many Nucor employees have been cut back to a three day work week. That would stink, trying to raise a family on three days worth of wages.

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Buy Low. Sell High.

Posts: 10754 | From: The Land Of The Giants | Registered: Feb 2005 | IP: Logged |

a surfer
Member

Member Rated:

posted

I just had a client call Fri. and suspend building of their new 7500 sq. ft. house slated to start in Feb.

They are waiting 6 months min. to let this recession play itself out.

He let me know that he has lost over 10 million in his portfolio over the last 14 months.
Poor guy. LOL

Posts: 6410 | Registered: Jul 2006 | IP: Logged |

Peaser
Member

posted

Part of the problem also, is that these steel companies are still charging inflated prices for steel.

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Buy Low. Sell High.

Posts: 10754 | From: The Land Of The Giants | Registered: Feb 2005 | IP: Logged |

Peaser
Member

posted

quote:
Originally posted by a surfer:
I just had a client call Fri. and suspend building of their new 7500 sq. ft. house slated to start in Feb.

They are waiting 6 months min. to let this recession play itself out.

He let me know that he has lost over 10 million in his portfolio over the last 14 months.
Poor guy. LOL

Kinda sounds like my uncle...

Although his home was built 10+ years ago.
I enjoy visiting down there, as I get to play The Orchard's private golf course for free. [Big Grin]

Better than that, I get to spend time with family.

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Buy Low. Sell High.

Posts: 10754 | From: The Land Of The Giants | Registered: Feb 2005 | IP: Logged |

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