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alstry (36.17)

Unemployment heading to 50%

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September 29, 2009 – Comments (10)

SOUTH GLENDALE — Demand for career advice has skyrocketed at the Verdugo Jobs Center, more than doubling from last year’s stream of about 4,000 monthly out-of-work visitors, the Verdugo Workforce Investment Board reported Tuesday.

The board oversees the center, which offers career training and counseling to job seekers, said Don Nakamoto, labor market analyst for the board.

It now offers its free services to between 9,000 and 10,000 visitors monthly, he said.

“I think because of what’s happened to the economy and how certain areas of the economy have just been devastated, and how their outlook has not been positive, either in the short term or the long term, a lot of people are coming in and hoping that they can just get access to training,” Nakamoto said.

Swelling regional unemployment rates have likely helped fuel demand at the center as job seekers have faced growing challenges in securing positions after extended periods without work, experts said.

Unemployment in Glendale is at 10.9%, up from 7.2% a year ago; and 10.2% in Burbank, up from 6.7% in 2008.

“When people are looking and not paying their bills, they get a little desperate, and I think that’s scary,” said Stuart Waldman, president of the Valley Industry and Commerce Assn.

THINK!!!!

Visitors up 125-150% but unemployment rate up only 50%????  It is clear that the unemployment rate is no longer reflective of the actual unemployment condition.

Further, our key executives are finally beginning to admit that without extending credit to the consumer, the outlook for any recovery is bleak at best....and once you factor cuts to government  and health care, there is no chance of any job recovery.

Here is what GE's Jeffery Immelt said in Asia today:

"Easing up money has always been the elixir to keep the economy in recovery mode," Immelt said. "But once you get interest rates to zero percent, you can't go much below that, which is kind of where we are right now."

"A lot of the jobs lost in financial services and construction are never coming back."

THE ONLY PEOPLE PAYING ZERO OR CLOSE TO ZERO PERCENT INTEREST ARE THE BAILED OUT BANKERS AND A FEW OF THEIR BUDDIES.....THE REST OF THE WORLD IS PAYING MUCH HIGHER RATES!!!!

Financial Services and Construction accounted for practically all of the NET job growth since 9/11.  If those jobs are not coming back, the only sectors left are government and health care...but they are now starting to cut.....and at accelerating rates.

The problem is that we are changing from a consumer economy to a savings economy......and the government depended on the consumer for its revenues.  If you combine the consumer and government, you are accounting for between 80-90% of our economy.

We could cut half of the current jobs and still be able to service a savings economy comfortably.

If the consumer is not consuming, the government is not generating much revenues.....and as a result, most of the jobs in America can be cut way back.....not because they are not needed, but because there is no money coming in to support them.

There is lots of need around the world.....just not lots of money.  And with the current Zombulation policies, money is running out fast.....REALLY FAST!!!!

For some independent evidence, take a look at the rising bankruptcy rates and evaporating revenues to hospitals and government....they are significant....and trending negative.

Unless we restructure soon, a trajectory to OVER 50% unemployment should not be unexpected.

10 Comments – Post Your Own

#1) On September 29, 2009 at 9:17 AM, alstry (36.17) wrote:

Big job losses and a spike in early retirement claims from laid-off seniors will force Social Security to pay out more in benefits than it collects in taxes the next two years, the first time that's happened since the 1980s.

This is a time bomb blowing up as millions more are likely going to lose their jobs and  tens of millions suffer wage cuts.  Social Security revenues are evaporating while need is exploding.

Over 2/3 of Americans who are retired depend on Social Security for their primary source of income.  We are now reaching a point where current and outlook for future revenues can no longer sustain the system without running MASSIVE deficits.

Now with the FDIC out of money, FHA out of money, Pension Guaranty out  of money, and Social Security cash flow negative.....much of America's spending and economy is dependent on the government being able to borrow/print ever growing amounts of money....and if that gets cut off......our economy gets cut off.

Welcome to MOAP....we are running out of money and the world knows it....now the question is when will we feel it?

If the government keeps printing, our money may be worthless...if it stops spending, our economy slows dramatically.

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#2) On September 29, 2009 at 11:01 AM, alstry (36.17) wrote:

Shutting DOWN ACCELERATING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

First companies routinely fired 5% of its workforce....Then 10%

Now 15-25% is not uncommon as the shutting down accelerates.

200 Game Crazy Stores to Close in October

First Industrial Retail Trust Inc - 15% of Workforce

Funcom Game Developer - 20% of Workforce

You can only run from the Zombulator for so long before it eventually gets you.......as long as we maintain the same policies.

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#3) On September 29, 2009 at 12:06 PM, afreakout (93.06) wrote:

Man, if you didn't use so much hyperbole and get slightly schizophrenic sometimes you'd have been the genius of Fooldom in a couple years. Even though this is all easy to see given the basic facts and given that you were most definitely not the first or only person to see it.  Even so, you know the facts and aren't rising and falling in the waves of sentiment and thats respectable.  

 

Don't worry though, people will come running back when poopy starts splattering off the fan again.  You shouldn't have set a date though...that totally backfired man.  

 

 

 

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#4) On September 29, 2009 at 12:06 PM, wvillegas007 (< 20) wrote:

Media BLACKOUT: No Media Coverage of Protest Against MANDATORY Vaccinations for HealthCare workers, except for local news channels.

Makes you wonder why??? Do your own research

WAKE UP America

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#5) On September 29, 2009 at 12:14 PM, DaytonFlyers (< 20) wrote:

baby boomers need to retire, unfortunately, they don't have enough savings to retire, so things are going to remain stagnant for a while

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#6) On September 29, 2009 at 12:27 PM, wvillegas007 (< 20) wrote:

Here's a little help: http://bbvm.wordpress.com/2009/09/22/former-cbs-anchorman-dan-rather-warns-of-corporate-influence-over-news/

 

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#7) On September 29, 2009 at 12:28 PM, miteycasey (31.11) wrote:

Visitors up 125-150% but unemployment rate up only 50%????  It is clear that the unemployment rate is no longer reflective of the actual unemployment condition.

Naw. It's just unskilled people who are looking to gain skills and they have realized THIS TIME the manual labors might not come back.

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#8) On September 29, 2009 at 12:31 PM, wvillegas007 (< 20) wrote:

HMmmmm... I wonder if the Network Owners have any connections with BIG PHARMA.

BAH, Bah, baaaaah!

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#9) On September 29, 2009 at 12:53 PM, wvillegas007 (< 20) wrote:

Question: What does War, Pandemic, Healthcare, Sports, Entertainment all have in common?

Answer: They are all orchastraded to keep the masses distracted from the WORD OF GOD!

Take a close look at your households and determine how much time you are spending on mindless entertainment? How many hours our families are captivated by television instead of seeking ABSOLUTE Truth and Knowledge.

REPENT FOR THE KINGDOM OF GOD IS NEAR!!!

 

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#10) On September 29, 2009 at 1:40 PM, wvillegas007 (< 20) wrote:

Am I the only one annoyed by most News Channels spending 10 minutes max on news followed by 20 minutes of Weather, Traffic, Entertainment and commercials. Good think for Tivo and the Internet.

No Wonder Profits and Ratings are dropping from the MainStream Media.

 

 

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