NEW YORK (CNNMoney.com) – The number of Americans filing for initial unemployment insurance climbed last week, the government said Thursday. There were 464,000 initial jobless claims filed in the week ended July 17, up 37,000 from a revised 427,000 the previous week, the Labor Department said. http://money.cnn.com/2010/07/22/news/economy/jobless_claims/index.htm Very few people on this board seem to be unemployed. I do not know of anyone who is unemployed in my circles (granted I live in an area with low unemployment). I know my sampling is totally unscientific, but are things really that bad out there? How are these people managing to survive? I mean, this recession is now almost 3 years deep.
marcus phoenix Wrote: ------------------------------------------------------- > NEW YORK (CNNMoney.com) – The number of Americans > filing for initial unemployment insurance climbed > last week, the government said Thursday. > > There were 464,000 initial jobless claims filed in > the week ended July 17, up 37,000 from a revised > 427,000 the previous week, the Labor Department > said. > > http://money.cnn.com/2010/07/22/news/economy/joble > ss_claims/index.htm > > > Very few people on this board seem to be > unemployed. I do not know of anyone who is > unemployed in my circles (granted I live in an > area with low unemployment). I know my sampling is > totally unscientific, but are things really that > bad out there? How are these people managing to > survive? I mean, this recession is now almost 3 > years deep. Know any college kids? lol FUnny thing is, I dont think they count fresh college grads in the numbers
ASSet_MANagement Wrote: ------------------------------------------------------- > marcus phoenix Wrote: > -------------------------------------------------- > ----- > > NEW YORK (CNNMoney.com) – The number of > Americans > > filing for initial unemployment insurance > climbed > > last week, the government said Thursday. > > > > There were 464,000 initial jobless claims filed > in > > the week ended July 17, up 37,000 from a > revised > > 427,000 the previous week, the Labor Department > > said. > > > > > http://money.cnn.com/2010/07/22/news/economy/joble > > > ss_claims/index.htm > > > > > > Very few people on this board seem to be > > unemployed. I do not know of anyone who is > > unemployed in my circles (granted I live in an > > area with low unemployment). I know my sampling > is > > totally unscientific, but are things really > that > > bad out there? How are these people managing to > > survive? I mean, this recession is now almost 3 > > years deep. > > > Know any college kids? lol > > FUnny thing is, I dont think they count fresh > college grads in the numbers I don’t think you can file for unemployment benefits unless you’ve held a FT job.
My take on some of the problem is that unemployment benefits are lasting too long for many people. In central IL, I have heard some business owners say that it has been hard to find people to hire (jobs such as lawn and gardening positions). My belief is that many people would rather take the unemployment benefits, sit back, and relax until they really have to go out and look for a job. As long as the benefits keep being extended, these individuals will not go back to work.
RHypke Wrote: ------------------------------------------------------- > My take on some of the problem is that > unemployment benefits are lasting too long for > many people. In central IL, I have heard some > business owners say that it has been hard to find > people to hire (jobs such as lawn and gardening > positions). My belief is that many people would > rather take the unemployment benefits, sit back, > and relax until they really have to go out and > look for a job. As long as the benefits keep being > extended, these individuals will not go back to > work. UI hardly pays 40 percent of your previous income. Plus it its taxed. So in effect you are probably making 30 percent. How can you possibly maintain your lifestyle with that? Also at the rate that jobs are being lost, this seems more like a friggin depression that a recession. When is this going to end?
In this recession, unemployment is highest among people who are less educated and have low income. You are probably just in a different socioeconomic stratum.
^Agree with marcus phoenix. Unemployment benefits are not that much, and I don’t think people abuse the system that much. Didn’t they decide to cut off a lot of the unemployment benefits recently? marcus phoenix -> Are you located in a major city? I know unemployed people - recent grads as ASSetMANagement mentioned. From what I hear, the job market is really tough right now and the interviewees I’ve had said they’ve been on the job hunt for close to a year. I have also seen instances in which a top college grad takes an admin position for years and later tries to transition out. Edit - I don’t know why I can’t spell today. lol.
Ocean Mist Wrote: ------------------------------------------------------- > ^Agree with marcus phoenix. Unemployment benefits > are not that much, and I don’t think people abuse > the system that much. Didn’t they decide to cut > off a lot of the unemployment benefits recently? > > marcus phoenix -> Are you located in a major city? > > > I know unemployed people - recent grads as > ASSetMANagement mentioned. From what I hear, the > job market is really tough right now and the > interviewees I’ve had said they’ve been on the job > hunt for close to a year. I have also seen > instances in which a top college grad takes an > admin position for years and later tries to > transition out. > > Edit - I don’t know why I can’t spell today. lol. Yeah I am in the DC metro area which apparently has the strongest job market in the country. Its incredible as to the number of people who are flocking in to this region nowadays. Read the series on Washington Post “Top Secret America” and take a look at the huuuge number of people working in intelligence organizations with TS clearances etc. for some perspective. http://projects.washingtonpost.com/top-secret-america/articles/a-hidden-world-growing-beyond-control/
ASSet_MANagement Wrote: ------------------------------------------------------- > marcus phoenix Wrote: > -------------------------------------------------- > ----- > > NEW YORK (CNNMoney.com) – The number of > Americans > > filing for initial unemployment insurance > climbed > > last week, the government said Thursday. > > > > There were 464,000 initial jobless claims filed > in > > the week ended July 17, up 37,000 from a > revised > > 427,000 the previous week, the Labor Department > > said. > > > > > http://money.cnn.com/2010/07/22/news/economy/joble > > > ss_claims/index.htm > > > > > > Very few people on this board seem to be > > unemployed. I do not know of anyone who is > > unemployed in my circles (granted I live in an > > area with low unemployment). I know my sampling > is > > totally unscientific, but are things really > that > > bad out there? How are these people managing to > > survive? I mean, this recession is now almost 3 > > years deep. > > > Know any college kids? lol > > FUnny thing is, I dont think they count fresh > college grads in the numbers Def. hit the nail on the head here. My friend’s college had a job after grad. rate of 43% in first 12months post graduation. I don’t know mine, but I’m sure its really bad. Though these aren’t the top schools so I’m not sure whether its a big change from prior years.
LOL at unemployed, sucks to be them
timotimo Wrote: ------------------------------------------------------- > LOL at unemployed, sucks to be them Where is your letter to the NAACP…still waiting.
marcus phoenix Wrote: ------------------------------------------------------- > UI hardly pays 40 percent of your previous income. > Plus it its taxed. So in effect you are probably > making 30 percent. How can you possibly maintain > your lifestyle with that? > > Also at the rate that jobs are being lost, this > seems more like a friggin depression that a > recession. When is this going to end? Well, sadly there are a lot of people that would rather just chill out and do nothing while collecting unemployment, as opposed to proactively improving their skill set and finding another job. So, even if they’re making 30-40% of what their “potential” was, some people probably think it’s easier for their sanity just to sleep in late and bum around and adopt some sort of defeatist attitude about the whole economy, rather than hustling their way to another job. Yes, a lot of the recession is certainly systemic to global economic and political conditions; however, I really believe that a large part of the recession is perpetuated by self-fulfilling prophecies among unemployed and underemployed, i.e. people who feel helpless and allow their minds to rot simply because trying to find another job can take time and energy and they view their case as futile, etc…
If we just stop talking about the unemployed and eliminate unemployment insurance, maybe they will just go away and stop bothering the rest of us civilized people.
people that are unemployed are failures and losers too stupid to anticipate and plan ahead, I saw this down turn miles ahead and so this most of my peers at the firm I work. S/F/O
numi Wrote: ------------------------------------------------------- > Yes, a lot of the recession is certainly systemic > to global economic and political conditions; > however, I really believe that a large part of the > recession is perpetuated by self-fulfilling > prophecies among unemployed and underemployed, > i.e. people who feel helpless and allow their > minds to rot simply because trying to find another > job can take time and energy and they view their > case as futile, etc… Look at Chart 1. There are 5 unemployed people for every job opening. http://www.bls.gov/web/jolts/jlt_labstatgraphs.pdf
timotimo Wrote: ------------------------------------------------------- > people that are unemployed are failures and > losers You really are a benevolent soul, aren’t you?
Serviced by Others – that’s an interesting data set; however, it doesn’t confirm nor disprove my assertion because it doesn’t provide any insight into the work-payout preferences of individuals. Specifically, I’m arguing that some of the people that are unemployed are not actively seeking employment, even though they should be. Simply being labeled “unemployed” doesn’t provide any information on how badly they are looking for a job. Yes, technically you’re supposed to let the government know how many job search contacts you’ve made in the last week (I think the minimum is like 5 per week), but the government only really verifies certain individuals to see that the really *did* make job contacts. I don’t know how many unemployed people get checked to ensure that they fulfilled the job search requirements, but I’m guessing that it’s probably as infrequent as getting audited by the IRS for a personal tax form. Anyway, I said what I stated earlier because I have overheard people in bars and other public venues sometimes talking about how life is good being unemployed because they have flexibility to do other things, while getting a check in the mail every two weeks. Surprisingly, this includes both people living off parents’ investments or trust funds, as well as people that are just looking at their situation as an opportunity to chill out and enjoy free time even in the absence of financial support from others. I guess I can understand that trying to find a job but getting denied the offer can be pretty discouraging…and maybe to the point where they don’t even want to look at other jobs. I’m thinking they should sign up for my resume review service, but chances are they would end up sending me money and not take time to make the corrections/revisions that I recommend to them because they’d rather just hang out instead…
Numi, if your stories are coming from “overheard in bars,” I think you need to consider that you may have serious representativeness bias. Bias from two sources: There are plenty of unemployed people who are watching every last cent (I was one of them at one point) and can’t make it to bars to talk to friends about how awesome it is to live on $1600/month maximum (before taxes, and only if you were making at least $3200 per month before) while downing chasers. Even those who find a little time or money to socialize are unlikely to be telling their friends about how awful and devalued their life has become. No, they will try to put a positive spin on things so as not to be a complete downer with their friends, and perhaps try to salvage a bit of pride.
numi Wrote: ------------------------------------------------------- > Serviced by Others – that’s an interesting data > set; however, it doesn’t confirm nor disprove my > assertion because it doesn’t provide any insight > into the work-payout preferences of individuals. > Specifically, I’m arguing that some of the people > that are unemployed are not actively seeking > employment, even though they should be. Simply > being labeled “unemployed” doesn’t provide any > information on how badly they are looking for a > job. Yes, technically you’re supposed to let the > government know how many job search contacts > you’ve made in the last week (I think the minimum > is like 5 per week), but the government only > really verifies certain individuals to see that > the really *did* make job contacts. I don’t know > how many unemployed people get checked to ensure > that they fulfilled the job search requirements, > but I’m guessing that it’s probably as infrequent > as getting audited by the IRS for a personal tax > form. > > Anyway, I said what I stated earlier because I > have overheard people in bars and other public > venues sometimes talking about how life is good > being unemployed because they have flexibility to > do other things, while getting a check in the mail > every two weeks. Surprisingly, this includes both > people living off parents’ investments or trust > funds, as well as people that are just looking at > their situation as an opportunity to chill out and > enjoy free time even in the absence of financial > support from others. > > I guess I can understand that trying to find a job > but getting denied the offer can be pretty > discouraging…and maybe to the point where they > don’t even want to look at other jobs. I’m > thinking they should sign up for my resume review > service, but chances are they would end up sending > me money and not take time to make the > corrections/revisions that I recommend to them > because they’d rather just hang out instead… I posted that in reference to your earlier point: > I really believe that a large part of the > recession is perpetuated by self-fulfilling > prophecies among unemployed and underemployed, > i.e. people who feel helpless and allow their > minds to rot simply because trying to find another > job can take time and energy and they view their > case as futile, etc… The chart proves that the economy is failing to produce jobs for a vast majority of people that are not working, no matter their preferences/self fulfilling prophecies, etc.
to solve your american debacle, you just have to switch to the Canadian system wherein past contributions from employment (1.74% of your salary up to ~$40k) go towards the social program. this way, you don’t feel bad about taking your time getting a job or waiting for a job that utilizes your skillset because you’re essentially just getting back what you already contributed (though employers do contribute 2.44% of your salary up to $40k as well, but we can just mark this as extra salary). this way you can build a fund large enough to support individuals during prolonged downturns without having to take out more debt that you cannot pay off. i think the EI fund is currently at ~$1,750 per Canadian as of today. you could essentially take our debt owed per capita and subtract this number as it is technically owned by all of us.