84,000 jobs cut in Aug.; jobless rate hits 5-year high of 6.1%

usatoday.com/money/economy/2008-09-05-jobs_N.htm

WASHINGTON — Businesses shed 84,000 jobs in August as the unemployment rate soared to a five-year peak of 6.1%, the Labor Department said Friday in a report providing stark evidence that the economy is foundering.
Fully 2.2 million Americans have lost their jobs in the past 12 months, as the unemployment rate has climbed from 4.7%. So far in 2008, firms have laid off 605,000 workers, with job losses averaging 76,000 a month.

John

If you’re laid off, the unemployment rate is 100%. I’d be curious to see where the job losses are at. Oh, go figure, manufacturing is the big loser.

Oh, go figure, manufacturing is the big loser

.

Yeah, I live in an area that is still largely reliant on heavy industry and things are a bit tight. However, as a whole, I’ve seen it worse. The jobs just generally don’t pay what they did 20 years ago.

John

Wow that’s sad. I thank God for my job, it may not be the best but it’s work! :twocents: :slight_smile:

Remember, this is all in your mind. The economy is strong, according to the Furhrer. :rolleyes:

Jim

I work in the RV aftermarket business and we have been cutting jobs all year long. And it looks like for the first time in 6 years at my location I will have to cut jobs. The business just isn’t there. Of course, this is a specialized industry that’s affected by many things, including the mortgage crisis, fuel costs, etc. Perception is everything. From where I sit, with rising fuel costs, loss of business and rising food costs, things are tight - tightest I’ve seen since 2001.

Peace…

MW

And even the ones who find jobs don’t get near the pay they were getting. Funny how some think we’re not in a recession.

Funny how globalization, unemployment and lower pay tend to go hand in hand.

I

I guess Bush is going to have a hard time getting re-elected…

I

guess Bush is going to have a hard time getting re-elected…

He definitely faces some serious challenges :wink: .

John

guess Bush is going to have a hard time getting re-elected…

He definitely faces some serious challenges .

So does someone else, unless he can find a way to tell us how he would have done things differently. Same stuff, new name isn’t going to cut it.

two close relatives are taking “Detroit retirement” getting laid off from an auto industry-related employer after 50 w/o a buyout or settlement of any kind, and little chance of new employment in their fields.

Many people think Social Security is the biggest Ponzi Scheme in this county. Actually our economy is. It is based on cheap labor: outsourcing and immigration, both legal and illegal.

Indeed, the chickens are coming home to roost.

  • kathie :bowdown:

Bush isn’t running for reelection.

The Democratic congress is. They’ve been in charge for two years and have done jack squat, right?

Well, the GOP were in charge of Congress for the twelve years prior to that. One could blame them for getting us into this mess, and then two years wouldn’t be nearly enough time to clean it up. Of course then someone will point out that a Democrat president was in office for six of those years, at which point I will remind that someone that the GOP held the Oval Office for the twelve years prior to that Democrat president. And round and round we go.

Depends how you see it. Personally, I’m sick of people using partisan politics as an excuse for gross incompetence at all levels of government. Talk about a cop-out from responsibility. And we’re the ones who elect them, so we’re at fault as well.

But on the other hand, are economic socialism and social libertarianism really the answers?

We really don’t seem to expect much from them in the way of ethics, but seem to expect a lot from them in the way of benefits. As a consequence of the first, we tolerate thier receiving a lot of money from people with agendas separate from the welfare of the people as a whole. As a consequence of the second, we accept their assurances that they are going to impart some economic benefit or other on us, without our having any real idea what will happen, or caring how it may affect the whole.

It really would be nice if some real reform could take place. But will it happen? We have, for example, a truly insane healthcare system, with everyone seemingly wanting to be subsidized by someone else, while the medical industry makes lavish profits notwithstanding that virtually everybody gets a “discount”. Yet, it seems the only response to it is to throw more government money at it for more subsidies, further encouraging everyone to think (as we do now) that all is well as long as someone else is doing the paying.

We have a financial system in which some segments are highly regulated, in recognition of the fact that financial system stability is vital. Yet some segments are essentially unregulated and cause the whole system to fall out of bed due to wild and sometimes dishonest behavior. And why? Because politicians could point to (seemingly) greater returns for investors due to heightened competition among intermediaries.

We tout the benefits of “free trade”, yet have a Congress that hinders American exports, but not imports. We want energy, yet have a government that retards its development in every way.

We know politicians all manage to get wealthy in office or after leaving office, but never insist that curbs be put on their freedom to take money under circumstances that would be clear conflicts of interest in any other sphere.

We do all that because politicians promise us “benefits”, and we’re all looking to get a piece of it. We seem to be happy with the crumbs that fall from their burgeoning tables.

No disrespect to anyone who is hard working and loyal and has lost their job… I am a business manager for the company I work for. And I know I’m probably gonna get beat up over this one but here goes… I know to some degree of certainty that a large part of that 6.1 percentage of people is unemployed because they are Unemployable. We hire part time workers all the time. Out of ten of those hired MAYBE and that’s a big maybe, will actually hold their job with us. We have seen over the last 5 years a marked increase in people who are just unemployable. Seems as though the X generation (or is it Y?) has difficulty understanding that one must get to work on time, do a reasonable days work for a reasonable days pay, leave their “I am special” personal lives at home where they belong, and actually come to work on the days they are schedualed instead of calling 15 miinutes after they are suppose to have arrived for their shift to tell us " I over slept, my cell phone alarm didn’t go off( cell phone? unemployed and still a cell phone?) the dog ate my… It happens all the time, on a daily basis. It is not just our industry either, I have spoken to numerous others who are in charge of hiring and firing and the same nonsense goes on in their areas too. American workers better shape up, employers have about had enough, mentally and financially. Send me ten people who want to work and my company would have so much work to do it’d be good for us and the economy.

As a manager myself I understand this part of it. I’ve had the same problems. We don’t know, however, how many of those who are unemployed are actually “unemployable”. I think that’s a fair statement.

In my local market, those who are “unemployable” go to the temp agencies. I’ve used temp agencies for many years and I find that they are the true “unemployable”. And, it’s not the young people who give me the problems. It seems to be my generation or older who have lost their way in the world, steeped in drugs and personal problems.

This year I’ve hired several young people, college age and even high school age. They all finished their terms and went back to school. I got lucky. I’ve had years where the high schoolers were terrible.

I think that given the indicators of the economy and losing jobs overseas, that says more about the unemployment rate than Americans who just don’t want to work. And add into that the increase in legal and illegal workers competing for the same jobs makes it even more difficult.

Peace…

MW

I hear Wal-Mart is hiring. :smiley:

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