NJ unemployment rate rises to 9.2% (2009, buying a home, employment)

[ghuber]

Department of Labor and Workforce Development | Jul-15-09 NJ Employment Losses Slowed in June; Unemployment Rate, Over the Month, Rose to 9.2 Percent

[JerseyGirl08]

My goodness it is so scary... I was hoping that the job loss would level off by the end of the summer so that hopefully things would start picking up by early next year.
When are we going to see the light at the end of the tunnel?

[desertsun41]

First off I dont believe anything the govt says. I believe we can safely double that 9.2% number to get a more accurate figure. The govt does not even count self employed who are out of work, those who's UI has run out and are still out of work and of course those who are not eligable to ever collect UI such as the self employed and the commissioned work force. And then we have those who have just given up their job search and given up hope. No one counts them in any statistic

Another thing. I visit several city forums on here from places I used to live. I see more posts on New Jersey saying or posting questions about buying a home then any other.

[ghuber]

Originally Posted by JerseyGirl08

My goodness it is so scary... I was hoping that the job loss would level off by the end of the summer so that hopefully things would start picking up by early next year.
When are we going to see the light at the end of the tunnel?

It is scary... I totally agree. Most people seem to think the US may hit as high as 11% now, so I presume NJ will creep up to somewhere in the mid to high 10% range if that's true... economists are now even talking about a 'jobless recovery'. WTF is that? I don't see how our economy can recover when 1 in 10 people are unemployed. If you think about it, that's 10 people in a room of 100. Not good.

[ghuber]

Originally Posted by desertsun41

Another thing. I visit several city forums on here from places I used to live. I see more posts on New Jersey saying or posting questions about buying a home then any other.

I think that's because many people on this forum are angry home prices are still so high. Many people find NJ very unaffordable and hope that it will get better by way of a continued decline in home prices.

[luckyshoes]

I just read today the real unemployment rate is 20%, when you take into account those who are PT and want FT work, and those who have given up.

[stevemorse]

terrible, absolutely terrible.

[desertsun41]

Originally Posted by luckyshoes

I just read today the real unemployment rate is 20%, when you take into account those who are PT and want FT work, and those who have given up.

And I say you are correct. Have you heard what the unemployment rate is among construction professionals? It's over 50% !!!

[The Michigan Man]

Maybe if NJ was fiscally responsible, they would be in a position to lower or eliminate corporate taxes, which would add jobs.

[luckyshoes]

Originally Posted by desertsun41

And I say you are correct. Have you heard what the unemployment rate is among construction professionals? It's over 50% !!!

Is that right? Sad.