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The economy is not good, not bad. There's good but there's bad. One problem I see is compared to the types of jobs lost, we see much more lower paying jobs created. Low wage job growth is not at all good for long-term economic growth. All we are doing is creating another bubble by doing continuing. It's not like executives can't take a pay cut to pay employees a little more.
I agree, but maybe it still depends on where you are. Regardless of your data, we see homes selling fast for over asking above 2006 prices, new construction of housing developments, apartments and high-rise office towers. Large employers like Amazon are hiring thousands of people, and new cars are flying off the lots. In the last few weeks I have seen a dozen or more "help wanted" signs just on the way home from work. Previously vacant storefronts are open with new stores and restaurants.
i'm starting to see vacant stores in NJ be repopulated. lots of things that subtly indicate improving economic times. though, there are a lot of low paying jobs being added, including healthcare in-home care employees which is very low pay for the work.
The economy is not good, not bad. There's good but there's bad. One problem I see is compared to the types of jobs lost, we see much more lower paying jobs created. Low wage job growth is not at all good for long-term economic growth. All we are doing is creating another bubble by doing continuing. It's not like executives can't take a pay cut to pay employees a little more.
I agree, but maybe it still depends on where you are. Regardless of your data, we see homes selling fast for over asking above 2006 prices, new construction of housing developments, apartments and high-rise office towers. Large employers like Amazon are hiring thousands of people, and new cars are flying off the lots. In the last few weeks I have seen a dozen or more "help wanted" signs just on the way home from work. Previously vacant storefronts are open with new stores and restaurants.
lol. Right. Regardless of the what all other proof shows, your own eyes triumph all else and to you we are no longer in hard economic times because you see for hiring signs on windows.
Mod cut.
Last edited by PJSaturn; 06-13-2014 at 02:28 PM..
Reason: Personal barb; off topic.
2006 was height of the bubble. We are not at height of the bubble. That doesn't say anything about the economy getting better. Go look at the various unemployment rates for 2009. Alternative Measures of Labor Underutilization for States
U6 for the US was 16.2% in 2009, 2010 16.4%, 2011 15.9%, 2012 15%, 2013 13.8%.
Yup, economy is getting better. It's a weak, slow recovery, but the economy is definitely on the way to "getting good again."
Better indicator is GDP growth. 2% (what it's been around for the last 3 years) is not a hot economy, but not terrible either. Labor market isn't the economy
Our economy grew less than 2% in 2013 and contracted by 1% in the first quarter of this year. That is far from a hot economy.
Our economy grew less than 2% in 2013 and contracted by 1% in the first quarter of this year. That is far from a hot economy.
no one says it's a hot economy. but the economy is definitely "good", it's just not great. a lot of the people in U6 aren't doing much to better their situation either. I've read countless stories about people complaining about hours at their employer, and the employer is also quoted in the article saying they offer employees training for other positions to be able to pick up more hours. So...what is it? They want more hours, just don't want to have to do anything to gain them? There are literally hundreds of thousands of jobs that pay > $50,000 in long haul trucking. Where are all these "marginally attached" people for those positions?
I'm not saying it's all the peoples' faults either. Companies are sitting on hiring people, and instead squeezing everything they can out of their existing work force. but come on....things have been chugging along. not great, but solidly good for certain.
Yes, Q1 GDP stunk. weather was awful. Now, let's see how much of Q1 activity pushed into Q2 as pent up demand...
We're muddling through, but at a lousy pace. Job growth is barely keeping up with population growth, if it has even done that. Labor force participation rate is dropping and the aging of the population doesn't seem to explain it all. The jobs we are creating tend to be disproportionately low-paying and part-time.
We're not in the trough, but are climbing up in a two steps forward, one back fashion.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Quote:
Originally Posted by CravingMountains
There is just a lot of ignorance going on around the board from people who clearly have no idea about how bad the economy is. Hemlock is an example of that and there are dozens of others. I am going to continue to update and reference back to this thread every single time I read someone say that the economy is good again. It isn't, and people need to stop belittling the millions who are still suffering in this economy.
As I started off saying in my post, it depends on where you are, and my comments were not just from my personal observations. I did not say that our area was indicitave of the entire county, but there are places doing even better. You can neither generalize that the U.S. economy is getting good again or not, it varies.
We're muddling through, but at a lousy pace. Job growth is barely keeping up with population growth, if it has even done that. Labor force participation rate is dropping and the aging of the population doesn't seem to explain it all. The jobs we are creating tend to be disproportionately low-paying and part-time.
We're not in the trough, but are climbing up in a two steps forward, one back fashion.
27 million Baby Boomers reached retirement age since 2008. That way more than accounts for the number leaving labor force.
Looking at the total US working age population (age 15-64) the rate of job growth is on fire, only to be outdone by Clinton & Democrat Congress from 1992 to 1996. Neither Bush ever achieved this rate of job growth ever & each Bush had huge net job loss over their term.
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