Post by Small Biz Owner on Oct 7, 2011 11:31:36 GMT -5
U6 UNEMPLOYMENT rises again for 6th straight month
At highest level for all of 2011
U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force
We have been through all the unemployment numbers on my thread earlier this year.
Unemployment has been higher in the last 30 years and the % of employed has been worse.
Also the charts show that it takes 7 to 10 years to recover full employment. It hasnt even been two years since peak unemplyment.
Peak unemplyment was the end of 2009.
usaone: DH graduated from college in 1980. We can't ever remember a time when so many people were unemployed for so long, at the same time that the market was tanking, and the value of homes had sunk like a rock WHILE the national debt soared.
These are the worst economic times that we (DH and I) have ever seen in our lifetime. In the past things have been "bad" for a few months, but NEVER have we seen so many problems occurring at one time and lasting soooo long. I don't think we're going to see things back to the "way they were" for many years.
I graduated from H.S in 1982 Tech School 2 yr A.S in Accounting in 1984 and College in 1988 with a BS in Accounting. I don't remember it ever being this bad.
Employment is uncertain, people are afraid to buy b/c they may need to relocate but selling is uncertain. No one is sure housing is at bottom and they are requiring 20% down in many cases.
I remember the term Reganomics being used by the Middle class as a practical equivalent to a swear word.
I now work closely in Commercial Real Estate and Construction related industries. People in the industry say that even with the commercial banking lock up in the 80's things are worse today than then. Ditto for what went on in the early 90's.
We have had some staff reductions, company owner says if things don't improve, he will have to go further, this from someone who had a rep to almost never lay off staff. His hands are tied, the banks are scrutinizing the financial statements and questioning everything.
Post by Small Biz Owner on Oct 26, 2011 8:29:55 GMT -5
1975 we became a debtor nation.
Investopedia explains Creditor Nation
Creditor nations have invested more resources in other countries than the rest of the world has invested in them. To determine if a country is a creditor nation, one must account for the the nation's overall debt balance when calculating the balance of payments.
Creditor nations can sometimes lose their status and become debtor nations. This happened to the United States in 1988 when its balance of payments turned negative.