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November 18, 2009 – Comments (7)

Municipal Transportation Agency - 110 Layoffs & 140 Vacant Positions Eliminated 

A new trend is developing....not only are companies and  government cutting millions of workers.....now massive numbers of unfilled jobs are being eliminated as well.

The job base in America is evaporating as more and more are hiring fewer and fewer.

Expect this trend to spread going forward as Zombulation spreads.  It was inevitable under the current policy.

7 Comments – Post Your Own

#1) On November 18, 2009 at 9:36 AM, alstry (36.08) wrote:

States Running Out of Money

 The state is out of unemployment money according to the Florida Department of Revenue. It's trying to recoup lost dollars that were given to people needing extended unemployment pay.

The annual fee employers pay to fund unemployment benefits is about to go up drastically.

The fee is jumping from $8.40 per employee to $100.30.

"That'll have a huge burden on the small business man and woman -- any business in the state of Florida -- who are struggling right now," said state Sen. Mike Fasano.

 

http://www.baynews9.com/content/36/2009/11/17/548174.html?title=Employers+to+be+hit+with+big+fee+jump+for+unemployment

OVER 1000% INCREASE.....GOOD LUCK

Money ran out a while ago....now bankrupt states are borrowing from a federal government that is simply printing money....

The Florida Department of Revenue is expected to announce the increase on Dec. 1, and the increase should go into effect at the first of the year.

According to the Agency for Workforce Innovation, Florida started borrowing unemployment money from the feds back in August.

So far that loan is more than $550 million.

If this keeps up much longer, get ready for a dramatic rise in rates and a crashing dollar.

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#2) On November 18, 2009 at 11:06 AM, UKIAHED (34.59) wrote:

The fee is jumping from $8.40 per employee to $100.30.

So, that works out to 5 cents an hour increase.  It may be an over 1000% increase in fee - but it represents only 1/2 of 1% increase in costs to the employer if they pay their employee $10/hour.

Got 100 employees - that's a business closing additional cost of $5/hour - total!  Not even the cost of 1 employee...

In all seriousness, I cannot believe the rate is so low.  In CA - our beginning rate is $238 and goes to $413 if you have a tendancy to fire employees.  Heavens - even the federal unemployment rate is $56 (and has been for decades).

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#3) On November 18, 2009 at 12:15 PM, alstry (36.08) wrote:

Maybe that is why CA's deficit is out of control and so many leaving the state......

Pretty soon, CA's baseline expenses will be so high against so little tax receipts that default will be the most likely outcome.....

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#4) On November 18, 2009 at 12:49 PM, Rasbold (91.59) wrote:

.....ahhh, back wen I had employees......

 

actually, it SUCKED, but I hear you Ukiah, I am El Dorado, and after getting GANG RAPED on employer taxes, I am pissed to see Florida is so cheap.

8 bucks??? No wonder the fund is depleted!!

 

$1150 / t. oz!!!! - never though a quote would prompt woodreau! Good to be a California MINER!!!

 

May Your Dow Never Jones!

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#5) On November 18, 2009 at 1:04 PM, UKIAHED (34.59) wrote:

Maybe that is why CA's deficit is out of control and so many leaving the state......

 

And yet...

 

California's population surpassed 38 million by July 1, 2008 according to official population estimates recently released by the State Department of Finance. The growth of 1.16 percent, representing 436,000 new residents during the fiscal year, continued the pattern of modest Growth Rates

and for more recent data:

E-1: City/County Population Estimates with Annual Percent Change  January 1, 2008 and 2009



State     Total Population                        Percent
               1/1/2008        1/1/2009          Change

California 37,883,992    38,292,687          1.1

 

How did we get from employer unemployment costs to CA deficit?  You know that unemplyment is a seperate fund from the state general fund right?  And that the unemployment fund borrows direct from the feds - not the market. It would be very unlikely that the fund would default even if the state goes into a general default.  As unemployment benefits are not a part of CA's baseline expenses (general fund) - then I would say that default based upon unemployment benefits would be the least likely outcome...

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#6) On November 18, 2009 at 3:40 PM, debtRichQuick (< 20) wrote:

Alstry, while I agree with you on the general state of things being horrific, I think sometimes you extrapolate the data like it's a linear function, when in fact the  data is cyclical. That said, I have a personal questions. Do you have all the hair on your head? I had to take a break from stressing about 09/09/09 to grow back some of my own hair. lol. I spent months reading your blogs, verifying your points, and wondering what in the world it was that was going to happen on 09/09/09, and why the heck I couldn't figure it out. I think all of us that follow Alstrynomics would like to know what it was you saw, and whether or not it's still a threat.

Yes things are bad, but I see don't quite see the concentric contraction that you speak of. Resonance in economies as complex as ours are extremely difficult to acheive, "black swan" ish if you will.

 Hope all is good with your fam, and thanks for challenging my thoughts.

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#7) On November 18, 2009 at 5:07 PM, alstry (36.08) wrote:

debt,

Thanks for inquiring.

Where I think you and I differ is you see this as cyclical and I see it as paradigm changing.  Without going into too much detail, what we face will be as convulsive as the dynamic shift from the agricultural age in the 1870s into the industrial age by 1900....but this time it will occur much faster.

In 9.09 we knew for sure that much of government was insolvent and simply being sustained by massive monetization....we actually really knew it in 3.09.

We are now approaching a cross roads where we are going to have to choose between blowing the currency and continuing this charade or actually starting to cut and live within our means.  If we cut we go into a deflationary depression, if we print, we head into an infllationary depression.

Niether is a good choice....but you can only print for so long without producing much before something very negative occurs.....no nation has ever been able to monetize as much as we have in the last few months.....my guess is soon this will stop one way or the other.

As far as our economy being complex, it really isn't.  Real  Estate and Credit drove pretty much everything.  Now both are contracting dramatically.......that is why we are seeing such massive cuts accross the board in BOTH the public and private sector. 

It is the public sector cuts that will have the greatest impact, especially on health care.

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