Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Work and Employment
 [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)
 
Old 09-02-2012, 05:54 AM
 
Location: Earth Wanderer, longing for the stars.
12,406 posts, read 18,982,812 times
Reputation: 8912

Advertisements

http://www.nytimes.com/2012/08/31/bu...it_th_20120831

The following are the percent of jobs, by wage type, lost during the recession and gained back:

Higher wage jobs ($21.14 to $54.55),---- we lost 19% of these jobs and gained back 20%
Mid range wage jobs ($13.84 to $21.13),---- lost 60%, ------------ and gained back 22%
Low wage jobs ($13.84 to $21.13), ---------- lost 21%, ------------ and gained back 58%

“I think I’ve been very resilient and resistant and optimistic, up until very recently,” said Ellen Pinney, 56, who was dismissed from a $75,000-a-year job in which she managed procurement and supply for an electronics company in March 2008.

Some people are working several low wage jobs to attempt to maintain a decent quality of life, if you can call it that. I can only advise, if you have a job and can do it, save as much as you can. Learn about how to invest carefully. You may feel secure now, but you never know what the future may bring, and something nasty just could happen when you are too old to be considered employable.
Reply With Quote Quick reply to this message

 
Old 09-04-2012, 12:28 AM
 
7,237 posts, read 12,750,520 times
Reputation: 5669
Ho-hum.

But you're absolutely right with your last point.

If you can, hoard as much money as possible, avoid any debt (save and spend cash, cut up the credit cards), and try to invest in tangible items that would be of value if the USD were to collapse.

And yes, if possible, put your money in avenues in which you can accrue more of it quickly (Savings Bonds/Accounts with High-Yield Interest Rates, Stocks, etc.).

The job market and US economy is just way too fragile to be wasting money now.
Reply With Quote Quick reply to this message
 
Old 09-04-2012, 12:51 AM
 
24,488 posts, read 41,163,584 times
Reputation: 12921
Quote:
Originally Posted by goldengrain View Post
[

The following are the percent of jobs, by wage type, lost during the recession and gained back:

Higher wage jobs ($21.14 to $54.55),---- we lost 19% of these jobs and gained back 20%
Mid range wage jobs ($13.84 to $21.13),---- lost 60%, ------------ and gained back 22%
Low wage jobs ($13.84 to $21.13), ---------- lost 21%, ------------ and gained back 58%
The article doesn't say this at all. It says that 60% of ALL lost jobs are mid-range while 58% of ALL gained jobs are low wage jobs. If you reread the article and your chart, you'll see that they are saying different things.

The numbers in the article conclude that:

- The percentage of high wage jobs gained roughly matches the percentage of high wage jobs lost.
- The percentage of mid wage jobs gained is significantly lower than the percentage of mid wage jobs lost.
- The percentage of low wage jobs gained is significantly higher than the percentage of low wage jobs lost.

What's interesting is that they are focusing on middle-class wages. Lower-class and higher-class (even upper middle-class) was excluded in the ranges they used.
Reply With Quote Quick reply to this message
 
Old 09-04-2012, 07:32 AM
 
912 posts, read 1,332,863 times
Reputation: 468
Ho Hum, there is already a thread on this subject
Reply With Quote Quick reply to this message
 
Old 09-04-2012, 09:13 PM
 
47,525 posts, read 69,741,434 times
Reputation: 22474
Quote:
Originally Posted by goldengrain View Post
http://www.nytimes.com/2012/08/31/bu...it_th_20120831

The following are the percent of jobs, by wage type, lost during the recession and gained back:

Higher wage jobs ($21.14 to $54.55),---- we lost 19% of these jobs and gained back 20%
Mid range wage jobs ($13.84 to $21.13),---- lost 60%, ------------ and gained back 22%
Low wage jobs ($13.84 to $21.13), ---------- lost 21%, ------------ and gained back 58%

“I think I’ve been very resilient and resistant and optimistic, up until very recently,” said Ellen Pinney, 56, who was dismissed from a $75,000-a-year job in which she managed procurement and supply for an electronics company in March 2008.

Some people are working several low wage jobs to attempt to maintain a decent quality of life, if you can call it that. I can only advise, if you have a job and can do it, save as much as you can. Learn about how to invest carefully. You may feel secure now, but you never know what the future may bring, and something nasty just could happen when you are too old to be considered employable.
So how come the wage for the low wage jobs and the mid-range jobs is the same?
Reply With Quote Quick reply to this message
 
Old 09-04-2012, 09:22 PM
 
1,248 posts, read 4,058,734 times
Reputation: 884
Car sales strong in August - Sep. 4, 2012

Industrywide U.S. car sales jumped 19.9% compared to a year ago, according to sales tracker Autodata. That works out to an annual sales pace of 14.52 million vehicles, which topped forecasts and nearly matched the pace in August 2009, when demand was inflated by the "Cash for Clunkers" program.

--------------------------------------------

I don't buy all this doom & gloom. Obviously, if people are buying cars that cost an average of $35,000 out the door and can afford the latest smartphone (with a $130 a month plan) then things can't be all that bad.
I am still driving my ancient 2008 Honda Accord with 45,000 with a tiny remaining auto loan of around $3800 at 11.75%.. I am constantly getting junk mail about these 'great offers' to "trade up" to a 2012 model..
Reply With Quote Quick reply to this message
 
Old 09-04-2012, 09:25 PM
 
1,248 posts, read 4,058,734 times
Reputation: 884
Quote:
Originally Posted by NJBest View Post
The article doesn't say this at all. It says that 60% of ALL lost jobs are mid-range while 58% of ALL gained jobs are low wage jobs. If you reread the article and your chart, you'll see that they are saying different things.

The numbers in the article conclude that:

- The percentage of high wage jobs gained roughly matches the percentage of high wage jobs lost.
- The percentage of mid wage jobs gained is significantly lower than the percentage of mid wage jobs lost.
- The percentage of low wage jobs gained is significantly higher than the percentage of low wage jobs lost.

What's interesting is that they are focusing on middle-class wages. Lower-class and higher-class (even upper middle-class) was excluded in the ranges they used.
It depends how you define 'middle class wages'. In the NYC metro area and New England, 'middle class' is earning between $80,000 - $150,000 for a single person...
Reply With Quote Quick reply to this message
 
Old 09-05-2012, 08:49 PM
 
24,488 posts, read 41,163,584 times
Reputation: 12921
Quote:
Originally Posted by NickL28 View Post
It depends how you define 'middle class wages'. In the NYC metro area and New England, 'middle class' is earning between $80,000 - $150,000 for a single person...
Clearly, seeing that I'm from NJ, I understand that $150,000 can be middle class income and even lower middle class income in some areas. But that was not the point of my post. I was using authors three ranges just because those were the ranges chosen.
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 > Work and Employment

All times are GMT -6.

© 2005-2024, 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