U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-30-2009, 05:12 AM
 
Location: rain city
2,958 posts, read 11,836,346 times
Reputation: 4927

Advertisements

After reading umpteen news sites about the promising uptick of the stock market and housing prices, and whiffs of economic hope in the air ....but then all these articles end on the rather glum observation that this 'recovery' may be a 'jobless' one that never replaces the nearly 6 million jobs in the US that have evaporated in the last eighteen months.

So.....exactly what kind of *recovery* is that? Rich investors begin to recover some of their losses? Oil barons see hope in the offing? Commodities traders can breathe easy again and investment bankers can resume their swindling?

It occurs to me that the term "jobless recovery" is inherently disingenuous. It_is_a_LIE.

99% of people depend on their jobs for a living--to eat, to go to the doctor, to pay the rent, to put gas in the car. A jobless recovery is an oxymoron. It's a title that has been cooked up by economic analysts and trumpeted in the headlines to inject a little feel good rhetoric into the American people who have been watching their lives and their livings and their country go down the drain, to toss them a life jacket now that they have been thrown overboard.

It is utterly disreputable that these news reports and financial wizards are trumpeting such self-canceling optimism as a "jobless economic recovery".

Without jobs, make no mistake, there will be no economic recovery. No matter what increasing value Zillow attaches to your property or how low the price of a gallon of gas goes, if you ain't got a job you can't pay the bills. Period.

(end of rant)
Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-30-2009, 06:35 AM
 
1,954 posts, read 4,935,884 times
Reputation: 1121
No, it's not an oxymoron at all. A lot of the people who have left their jobs are going to start their own businesses or become partners in businesses or make due with a variety of part-time work in the meantime. None of this gets included in the employment stats as "new jobs," but it's still indicative of recovery. New jobs is always the last indicator to improve in a recovery.

Talk about "jobs" is pretty silly actually, for unless a "job" is tied to productivity and cash flow for a company, it's not a "job" but someone subsidizing someone else's existence. Subsidies are not what we need!!!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-30-2009, 07:19 AM
 
21,521 posts, read 19,319,125 times
Reputation: 12124
I've heard the term "jobless recovery" kicked around for at least a few years, at least as far back as Bush's second term. Back then the unemployment rate was lower, about 5 to 6% with the stock market steadily climbing to 13,000, 14,000.
What I'm seeing is the re introduction of speculation in investing ( the market and real estate) that the worst is over and we'll soon get the economy moving again. Specialtion is risky and many people aren't ready to gamble like that again. People are speculating it won't get better, hence lack of consumer spending, decreased lending and taking on of debt.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-30-2009, 08:10 AM
 
12,869 posts, read 13,698,633 times
Reputation: 4453
well, if it is a recovery it is going to have to be a jobless one because 584,000 jobs were lost this week:
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending July 25, the advance figure for seasonally adjusted initial claims was 584,000, an increase of 25,000 from the previous week's revised figure of 559,000. The 4-week moving average was 559,000, a decrease of 8,250 from the previous week's revised average of 567,250.

The advance seasonally adjusted insured unemployment rate was 4.7 percent for the week ending July 18, unchanged from the prior week's unrevised rate of 4.7 percent.

The advance number for seasonally adjusted insured unemployment during the week ending July 18 was 6,197,000.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-30-2009, 09:59 AM
 
Location: North Cackelacky....in the hills.
19,556 posts, read 20,181,605 times
Reputation: 2508
It is only 500,000 plus more people unemployed.

Let them eat cake.

As long as certain fools get their money it matters little what else happens.

Until of course one of those millions of unemployed people decides to take their property....THEN it might occur to them what the cost of a 'jobless recovery' actually is.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-30-2009, 10:34 AM
 
Location: Great State of Texas
86,068 posts, read 76,777,953 times
Reputation: 27652
The past "jobless" recovery was based on loose lending standards. We recovered because of the bubbles inflating values beyond belief which allowed people to extent their "credit" aka debt.

That can't happen this time. There's no inflated value of anything to loan against.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-30-2009, 10:39 AM
 
5,467 posts, read 5,376,380 times
Reputation: 6989
"Truth will out" as they say. Things will get worse.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-30-2009, 03:06 PM
 
Location: Apple Valley Calif
7,474 posts, read 21,215,348 times
Reputation: 5641
I believe the problem with the economy, and the nation in general, is not an oxymoron, the problem is directly related to a Harvard moron...!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-30-2009, 03:12 PM
 
369 posts, read 404,561 times
Reputation: 185
Quote:
Originally Posted by StoneOne View Post
No, it's not an oxymoron at all. A lot of the people who have left their jobs are going to start their own businesses or become partners in businesses or make due with a variety of part-time work in the meantime. None of this gets included in the employment stats as "new jobs," but it's still indicative of recovery. New jobs is always the last indicator to improve in a recovery.

Talk about "jobs" is pretty silly actually, for unless a "job" is tied to productivity and cash flow for a company, it's not a "job" but someone subsidizing someone else's existence. Subsidies are not what we need!!!


Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-30-2009, 03:27 PM
 
1,954 posts, read 4,935,884 times
Reputation: 1121
Quote:
Originally Posted by mpyne View Post
Do jobs come of thin air?

What is your definition of a job anyway?
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top