WASHINGTON (MarketWatch) -- The number of people filing claims for state unemployment benefits rose by 17,000 to a seasonally adjusted 474,000 in the week ending Dec. 5, while the total number of people claiming benefits of any kind topped 10 million, a sign of very sluggish hiring, the Labor Department reported Thursday.
First-time claims -- which measure new layoffs -- rose for the first time in six weeks in the week after Thanksgiving. Economists surveyed by MarketWatch had expected initial claims to fall to about 450,000.
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Numbers can only tell you a part of the story. I can tell you from anecdotal evidence the following: I had three family members graduate from college in 2007 and three in 2008. The fields went from doctorate in Pharmacy, education/teaching, liberal arts, chemical engineering, and nursing. The only person to find a job after graduating was my cousin who studied to be a pharmacist. Then it took 14 months for my other relative in chemical engineering to land a job. And he is going to be laid off on December 31. The nurse got a job three months after graduating and seven months later, they cut her hours to 32 hours per week and then to 24 to 32 hours per week. The future teacher has a job but only working 14 hours per week. Try paying your bills by working only 14 hours per week.
ReplyDeleteEveryone else is still searching for a job. It is awful what is happening to our country. We Americans have it so rough. All we need to do is believe in the American dream again.
Perhaps if we all prayed to our new GOD, the Lord and Savior Obama and his apostles in the Media and Democratic party then everything will be ok!!!! The Administration says that the recession is over. Doesn't that make it so?
ReplyDeletePeople need to train for jobs that are in demand in their city; or relocate to other areas like we had to do in the past..where there are jobs in that persons field. This happened to our friends and family members who had to relocate in the 80's recession..it's not easy to up and move, but young people now don't seem to be nearly as motivated like their elders.
ReplyDeleteIt could have been so easy had we just let the banks, and other loser companies fail. Yes it would have been hard for many...BUT...prices would have tumbled big time and deflation would been good FOR...???
ReplyDeleteNew startup businesses and well managed companies. By this time the crocks would have been broke and new entrepreneurs would have been hiring folks left and right.
Instead you are broke and the crocks are drinking champagne on the yacht somewhere where its warm. All they need is a fast internet connection.
AND…we call Afghanistan corrupt???
Anyone want to go in with me to start up a cremation company? No shortage of customers, after all a traditional funeral costs $8K.
ReplyDeleteI'll bet the pharmacist about would have no problem landing a position as a pharmacy assistant. Let's see...
Pharmacist: $40.00 per hour or more.
Pharm Assistant: $12.00 per hour.
Laura you keep trotting out that brilliant advice 'the Kids today should move to where the jobs are'... do you have any suggestions?
ReplyDeleteBack in the 1980's people still had reasonable job security. I know plenty of people who have moved for a job only to get laid off in a few months and wind up stranded in a strange city with no family and an iron clad lease.
This isn't the 1980's recession.
Move to where you can grow lots of marijuana. It will be the only profitable business in the USA soon enough.
ReplyDeleteTrades as opposed to 'careers.'
ReplyDeleteTrades are better as things need to be repaired, installed, etc. These folks that moved in the 80's I previously mentioned; they're still at their jobs; most are now retired, incl us! Yes, this depression is worse than the early 80's; but auto repair/body repair; electricians, HVAC, plumbers are working overtime in my area!! Some of the second cousins, a nephew recently relocated out of their state, and after several years, are still working!
ReplyDeleteIn the 70's & 80's Trades were considered a solid career choice. The Tech boom and the flawed every child must go to college transformed the Trades from desirable to desperate.
ReplyDeleteI worked in a Suburban High school and was amazed by the number of students who could have been third generation tradespersons who wanted to study Business Admin and Communications.
Who do we turn to when we have flipped the last burger and sold the last insurance policy.
When you come out of college 40+ K in debt you need a safety net like mom & dad to help out with that 26.5 starting salary