US Jobs: Coming or Going?

[Virgil Showlion]

You'll nary find a more contentious issue.

Decoy is permitted to post here as part of an agreement re civility. I'm just guessing he's going to take the "going" side of the argument.

[neoh]

I bought a pair of Redwing boots recently. They still make ~ 50%-60% of their product in the US. They do not try to hide the country of origin for their products.
I chose a steel toed boot that is made entirely in the US. The cost was $270.00 + tax. They also sold a similar boot that is made in Asia. The cost for those were $190.00/pair.
The totally made in the USA tend to be older people that make a decent buck. The less expensive, partially made USA to totally imported tend to be bought by people that do not make as much money according to the lady that owns that particular franchise.
I'm a big buy USA but I have to admit that the quality appeared to be the same regardless of where they were manufactured. All of the products carried the Redwing logo.
Since wages are declining in the US for people that use this type of foot wear, I expect people will continue to buy what they can afford.
China is currently experiencing some job loss because of a recent increase in wages over there which is still way below US wages. I expect that a combination of lost jobs and declining pay will be the long term trend in the US as long as current policy is allowed.

[Deleted]

30 year bonds just sold at the lowest yield ever. The market can't seem to put their money into the US fast enough.

[neoh]

Dec 14, 2011 14:01:03 GMT -5 ArchietheDragon said:

30 year bonds just sold at the lowest yield ever. The market can't seem to put their money into the US fast enough.

[Deleted]

[decoy409]

?

nothing arch,have a ear next door at the POST and the last entry and it will be explained to you.

It's the great shell game or 3 card monte and whatever else on those realms you wish to call it.

[Deleted]

You'll have to explain the explanation.

[Virgil Showlion]

30 year bonds just sold at the lowest yield ever. The market can't seem to put their money into the US fast enough.

Word on the street is that Greece will officially declare bankruptcy sometime this week. Just a rumour based on suspect meetings with international lawyers. Moody's threatening to downgrade France isn't helping.

The yield on the 30 year bonds isn't much over 3%. Imagine that. You're so desperate to put your money somewhere that you'll lock it up in an instrument with a 30-year maturity guaranteed to decline in value under even the most timid estimates of inflation.

But if I were a European banker, I'd be jumping to the ship sinking the least quickly too.

[Driftr]

Fed announcement yesterday (or day before?, time flies) that they'll be extending the maturity of their holdings as they continue to re-invest might have something to do with the dip in the 10 and 30.

[decoy409]

Virgil, it's a good thing that fast food world is doing well as hopefully they can give the Mom & Dads of the US a part time job and the states can pick up on the extra Food Stamp recipients. As these jobs are going,not to mention the UC claim payouts and states that have already surpassed fiscal budget for NEXT year already ,

Dec. 5,2011 - Postal plan: Slower delivery, 28,000 jobs lost

money.cnn.com/2011/12/05/news/economy/postal_service/index.htm?iid=Lead

Dec. 5,2011 - 600 Cliffs employees face layoffs (Mich.)

www.uppermichiganssource.com/news/story.aspx?list=~/home/lists/search&id=694024#.Tt179FbURn8

Dec. 6,2011 - Citi to Slash 4,500 Jobs, Take $400M Q4 Charge

www.benzinga.com/analyst-ratings/analyst-color/11/12/2181685/citi-to-slash-4-500-jobs-take-400m-q4-charge

Dec. 6,2011 - 1,400 layoffs to hit the state

excerpt - More than 1,400 jobs could be eliminated by early next year as 11 Illinois companies, including some in the suburbs, plan closures and layoffs, according to information released Tuesday by the Illinois Department of Commerce and Economic Opportunity

www.dailyherald.com/article/20111206/business/712069841/

Dec. 7,2011 - AstraZeneca slashes 1,150 U.S. sales jobs

www.cnbc.com/id/45585363

Dec. 7,2011 - McGraw-Hill cutting 10 pct of education unit work force, freezing pension; eyes $100M savings

www.washingtonpost.com/business/mcgraw-hill-cutting-10-pct-of-education-unit-work-force-freezing-pension-eyes-100m-savings/2011/12/07/gIQAvWCVdO_story.html

Dec. 8,2011 - MEMC restructuring, laying off 1,300

excerpt - The move is an effort to reduce production capacity and quickly lower operating costs in light of weak demand for semiconductors and the bottom dropping out of the solar market due to oversupply.

About 250 of the jobs to be cut are in the United States, with about 41 percent in its semiconductor unit and 47 percent in the solar materials unit.

www.bizjournals.com/stlouis/news/2011/12/08/memc-restructuring-laying-off-1300.html

Dec. 8,2011 - Momentive to temporarily lay off 325 workers

excerpt - WATERFORD — Momentive Performance Materials Inc. said Thursday it will temporarily lay off 325 hourly workers at its plant in Waterford, due to reduced customer demand.

The plant produces adhesives and sealants used in the construction, automotive, furniture and textile industries.

The layoffs begin Dec. 22 and include employees in the finishing, quality and logistics operations, and support functions. Layoffs will last a maximum of 12 days, with workers back on the job Jan. 3, 2012, the company said.

The company also idled 225 production workers over the Thanksgiving holiday weekend.

The Waterford plant employs about 1,000 people.

www.timesunion.com/business/article/Momentive-to-temporarily-lay-off-325-workers-2390662.php

Dec. 9,2011 - Westchester, NY medical center announces layoffs

excerpt - VALHALLA, N.Y. — The Westchester Medical Center has announced that 250 employees will receive layoff notices.

President and CEO Michael Israel calls the decision "gut-wrenching."

According to the Journal News (http://lohud.us/urzXca ) the medical center is also eliminating 104 vacant positions.

online.wsj.com/article/AP42666c73fc504d799e69aac910fe0179.html

Dec. 9,2011 - Snokist warns of 610 layoffs in February

www.yakima-herald.com/stories/2011/12/9/snokist-warns-of-610-layoffs-in-february

Dec. 9,2011 - Army slashing 8,700 jobs as budget cuts begin

www.washingtonpost.com/blogs/federal-eye/post/army-slashing-8700-jobs-as-budget-cuts-begin/2011/12/08/gIQAOWRxhO_blog.html

Dec. 11,2011 - Facing budget cuts, PSP forecasts possible layoffs, which would be agency's first

excerpt - HARRISBURG, Pa. — An internal document is forecasting the possibility of layoffs at the Pennsylvania State Police.

The Patriot-News of Harrisburg, citing an internal document it obtained, reported Sunday (http://bit.ly/t25lAh ) that the agency is forecasting the potential for 400-500 trooper layoffs, or about 10 percent of the approximately 4,400 troopers, under a budget proposal aimed at trimming the department's spending.

The department offers full- or part-time police service to about two-thirds of Pennsylvania's municipalities, as well as complex DNA, ballistics and drug testing services, too.

The department's budget is around $900 million and even that may not be enough, according to the document, which mentions a freeze on new police academy cadet classes until 2013, closing five barracks and freezing civilian hires.

www.therepublic.com/view/story/02083571acb5450b810ef2277bdc5398/PA--State-Police-Budget-Worries/

Dec. 12,2011 - Jefferies Cutting 11% of Its Workforce in the Equities Division

excerpt - Following MF Global’s bankruptcy, shares of Jefferies began to fall as well, though in recent weeks they’ve begun to stabilize after company officials, including chief executive Richard Handler, began telling investors that Jefferies wasn’t as highly “leveraged” as MF Global, meaning it didn’t borrow as much to finance its trades, and that the firm’s exposure to risky assets was well hedged against market swings.

wallstreetpit.com/87519-jefferies-cutting-11-of-its-workforce-in-the-equities-division

Dec. 14,2011 - 3M Offers Retirement to 4,900 in First U.S. Cut Since 2009

www.businessweek.com/news/2011-12-14/3m-offers-retirement-to-4-900-in-first-u-s-cut-since-2009.html

Dec. 15,2011 - Sun Life to cut hundreds of Bay State jobs (800)

excerpt - Canadian insurance giant Sun Life Financial is cutting some 800 U.S. jobs, with roughly half of the layoffs hitting the firm’s American headquarters in Wellesley.

www.bostonherald.com/business/general/view/2011_1212sun_life_to_cut_800_us_jobs/srvc=business&position=also

By the numbers I say,just keep adding them up!



And POOF! as we say,the next generation will pick up the overprint,

Dec. 15,2011 - Social security: It's more broken than you think

excerpt - Social security tax cuts are probably a good idea, but we're going about them all wrong -- and our grandchildren will end up paying for it.

finance.fortune.cnn.com/2011/12/15/social-security-taxes/?iid=HP_LN

Then as the classes are broken down the results come in (as they will),

'Dismal' prospects: 1 in 2 Americans are now poor or low income

excerpt - WASHINGTON - Squeezed by rising living costs, a record number of Americans — nearly 1 in 2 — have fallen into poverty or are scraping by on earnings that classify them as low income.

The latest census data depict a middle class that's shrinking as unemployment stays high and the government's safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families.

"Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses, they are considered too 'rich' to qualify," said Sheldon Danziger, a University of Michigan public policy professor who specializes in poverty.

usnews.msnbc.msn.com/_news/2011/12/15/9461848-dismal-prospects-1-in-2-americans-are-now-poor-or-low-income

And some just come around to DETOUR away from the FACTS.

[neoh]

In addition to the jobs that decoy posted above, jobs that a few years ago that were being touted as replacing our old manufacturing base, are also going.
The following article from Testosterone Pit was posted on Zero Hedge this morning. It describes how American Taxpayers paid a significant amount of money to develop solar panels only to find that the "US" firms outsourced the manufacturing to China. While the article talks about China, it could be any country that pays less than $3.00/hr.
A few points from the article:
www.testosteronepit.com/home/2011/12/14/politicians-sponsors-and-the-trade-debacle-with-china.html
The US trade deficit with China through October is $245 billion and will likely hit a record $300 billion for the year. It’s politically convenient to blame China, particularly its yuan policy. But the driver behind the trade deficit is a broad and enduring strategy by US corporations to shift an ever increasing range of economic activities from the US to China. And now a trade war is breaking out.

American companies have heavily invested in China. At first, they shifted basic, dirty, or dangerous jobs to China to benefit from cheap labor and loose regulations. It brought costs down for US consumers. Over the years, the trend spread to other areas of commerce, from auto components to pharmaceutical research. For example, Merck, one of the largest pharmaceutical companies in the world, announced from its headquarters in New Jersey last week that it would invest in a 500,000 sq. ft. facility in Beijing. Purpose: discover and test new drugs. Chinese jobs to be created: 600. The project is part of Merck’s $1.5 billion investment in China. An investment that will contribute to China’s growth at the expense of the US economy.

One of the jobs programs that Congress, the Obama administration, and states have trotted out with fanfare during the stimulus bonanza was green tech, and particularly solar energy. Taxpayers subsidized the sector through a mix of local, state, and federal incentives. On the federal level alone, there were investment tax credits, cash grants, depreciation bonuses, and loan guarantees. At the state level, bankrupt California has been at the forefront of subsidizing the industry.

And yet, much of solar panel manufacturing has drifted off to China. As subsidies worldwide were cut back, prices for solar panels have plummeted below US production costs and have taken down a number of manufacturers. Among the losers: US taxpayers (see the now defunct Solyndra).....

[decoy409]

neo, nice follow up! Say,remember this one?

[decoy409]

Here is a gasser to go with #9 & #10 today,

Quote: Jobless claims tumble to lows last seen in 2008.
(compliments of Market Watch)

[luckyme]

Watching a recent documentary on companies moving to China.

China, which thinks long term, is using these industries to learn and adapt and eventually replace those very companies with their own Chinese owned and operated.

So even while the foreign companies make larger profits due to the cheap labor and friendly corp environment, long term, they are hastening their own demise.

[decoy409]

I would be interested in seeing that documentary. Link please.

Lear and adapt? Seems to me that they are the ones with the machine the technology and labor pool that works for peanuts. As long as tax evaders and free trade,and off shoring continues,I would not be betting (opps! I meant speculating) on anything more than a slow return on a piddle course back this way and while some oppurtunity returns the wage scale has and is being adjusted. Lower that is for the production work.

But there is a bright side! With all the illeagal imigrants allowed into the country here at homwe,I am sure they will find many to take those whopper waged jobs no problem.

C&C operators down to $11-$15hr. this way. Last year same job same place was at $25-30 hr.

[Deleted]

sounds like the company is in trouble

bad management....or bad area of country

wages are down in some jobs....happens when low/no skill people line up for any available job

why should companies pay 20 hr when people are willing to do it for 15 hr....it is managements duty to be profitable....and keeping wages in check is a big part of that

i know...such evil thoughts....business is there for the employee...not the owner/management according to some on this site

i am giving 4-6% raises to every employee this year.....

do i have to? no.....

but i like to keep my employees happy...and productive.....and the cost of hiring and training new ones is substantial

There are still cutbacks going on.....but there is alot of hiring also.....but skills is where the jobs are....IT, medicine, healthcare, engineering, sales

If you are a IT security expert, you can basically write your own contract

I refuse to see all the D&G you guys see....it may be there....but i see the good things happening too

[decoy409]

Yes,sounds like a legit 'excuse' there above. How are those off shorers working out for you in your port?

[Deleted]

Dec 14, 2011 14:01:03 GMT -5 ArchietheDragon said:

30 year bonds just sold at the lowest yield ever. The market can't seem to put their money into the US fast enough.

No consideration for the feds "twisting" ?

[Deleted]

Dec 16, 2011 9:42:05 GMT -5 @jma23 said:

Dec 14, 2011 14:01:03 GMT -5 ArchietheDragon said:

30 year bonds just sold at the lowest yield ever. The market can't seem to put their money into the US fast enough.

No consideration for the feds "twisting" ?

Is that like a purple nurple?

[decoy409]

Financials lead the way. And leading the way 'in these times' means showing profit.

You served your purpose ants,now go find a job,

Morgan Stanley, Like Rivals, to Make Deep Job Cuts

dealbook.nytimes.com/2011/12/15/morgan-stanley-to-cut-1600-jobs/

[Deleted]

Dec 16, 2011 9:45:53 GMT -5 ArchietheDragon said:

Dec 16, 2011 9:42:05 GMT -5 @jma23 said:

No consideration for the feds "twisting" ?

Is that like a purple nurple?

Depends which way you twist.

[kman]

Custom fabricators are hiring people in there 70s to fill orders...what did I say about custom products???

Kman's business is about to explode!!!

[decoy409]

Yes, BOOMING away is what it is. Too bad that the BOOM represents BUST to the Magician/s trick.

Nothing has changed except for added STALLATION & DETOUR. Have a look at the Magicians Trick. We took a very good look at the trick 3 years back in the Decoy Post back at MSN.
And from that 3 year back look to this one from this past June we add,'We Are Right On Schedule!'

There is a comment below left after the look. It states 1 job created for every 8 needed. That would be a fair assesment. And then for those that like those riddles and trying to figure them out,well,it's grade school math as we say in the 'Greater vs Less' dept. with daily additions to the greater.
Lets SEE,the 16 year old is now 3 years later 19. The 13 year old is now 16. The 30 year old fast food worker (as we discussed) is now 33.

And those daily added on numbers called 'odds' (or properly named 'new arrivals' or 'babies'). For those that missed it,here is a class course refresher,

June 3,2011 - The Real Truth on U.S. Phantom-Jobs

blog.ml-implode.com/2011/06/the-real-truth-on-u-s-phantom-jobs/

Now when you read and hear about al of those so called 'jobs',best keep the refresher course in mind or old DETOUR will have you misguided.

[decoy409]

Well I SEE that the kabosh in that last one up above did not bring any debate takers. Hard to debate reality for many and much easier to turn a cheek. But as you wish.

Those things in the motor city just turn more and more sour. And when there is not that much left to uphold (outside of crime that is) the list goes on as to departure,

Dec. 19,2011 - Detroit workers nervous as layoffs loom

excerpt - Detroit— On any given day, bus driver Penny Allen can be cursed at and even threatened in a city that struggles with crime and poor services. She's endured the stressful job for five years — even through one layoff in 2009.

Now she's one of many city employees worrying about their futures.

As Detroit struggles to save itself from crumbling financially, city workers — from police and firefighters to bus drivers to white-collar workers — don't know who among them will remain employed in the new year.

With the specter of at least 1,000 layoffs looming, the uncertainty is taking its toll, they say.

"This is mental stress with the fact that we're trying to cope with the people, but at the same time it's more stress not knowing if we're going to have a job," said Allen, 48.

"We don't make enough money to go through the stuff that we go through. I've talked to some of my co-workers, and some of them are so worried that they are just panicking."

www.detnews.com/article/20111219/METRO01/112190341/Detroit-workers-nervously-wait-layoffs-loom?odyssey=tab|topnews|text|FRONTPAGE

Well Allen,you and others may want to turn down that 'consumer confidence' poll when it comes up next as they are trying to show improvement you know.

Along the way here we should really do a update of the defunct states and their cities being washed away in 'lost' revenue. Most have already burned up their cake needed to continue onward ho. Not much left to do but start the cuttings.
Or hold it! when that magic press is done with a easy TRILLION to be laid out UK way,maybe the machine will need a cleaning! The left over ink can print up some more for back here in town! Problem solved! Boy that was easy.

[decoy409]

The ratio 'was' (as in past tense) figured out how many jobs were needed to 'sustain' the Gdp and Revenue intake in order to keep the house on a roll.
We responded to investors with explaining that grade school math was and always has been the ticket in the 'greater vs less' field of math.

So as we follow the examples we conclude,'just keep adding up those 0's'

Jan. 3,2012 - Philly Schools Send Layoff Notices to 1,400

www.nbcphiladelphia.com/news/local/Philly-Schools-Send-Layoff-Notices-to-1400-136582568.html

Jan. 3,2012 - Nestle USA Division Lays Off 103 Chatsworth Employees

www.sfvbj.com/news/2012/jan/03/nestle-usa-division-lays-103-chatsworth-employees/

Jan. 4,2012 - Boeing to close Wichita facility by end of 2013

excerpt - Wednesday's announcement means the loss of 2,100 well-paying jobs at its Kansas facility, which was once considered the centerpiece of Wichita's claim as the air capital of the world.

finance.yahoo.com/news/boeing-close-wichita-facility-end-164854935.html

Just a couple of examples as the overall nature is anything but kind. Why you can show me your meaningless 25 or 100 here and there,however that grade school math is clearly in charge in the greater vs less dept.
And of course the ripples in which we have followed strong due to are simply a matter of what one SEES and that comes back for many as to not being able to SEE simply due to the various positions of where each lives on the side of the hill.
For many will have all the tougher of a time than many of those that have alreasdy been washed away.

Nov. 11,2011 - Americans’ Incomes Have Dropped 6.7 Percent During the ‘Recovery’

www.weeklystandard.com/blogs/americans-incomes-have-dropped-67-percent-during-recovery_607640.html

Jan. 3,2011 - Gas Prices Are as Low as They'll Get: Gulf Oil CEO

www.cnbc.com/id/45857237

Yep,the roll has certainly been on.

[bean29]

A local business newspaper showcased the largest 50 employers in the area. They included Health Care Providers/Drs and Hospitals, Grocery Stores, Department Stores, Banks and a few of the former top manufactures (like maybe 5) Most of the companies listed do not provide what one would consider "good" wage jobs.

Scary, Scary, Scary.

[decoy409]

bean29, I am a firm believer in anything that is returning or is to be created will indeed 9 out of 10 times come with a wage reduction as the former paid.

This is a reson I kick McD's. Debt profit made off of despair. Show me workers at McD's given 40 hr. work weeks and insurance outside of the manager and assitant manager. It will never happen.

Why how much do ants need? Cram them up in a apt.,duplex,foreclosed on and now rental home. Put 10-15 in a unit and alow them the shiny vehicle to drive (it not need be new) and a television to share.
Still finding things tough well dish out some good old food stamps to help out. What the heck,50 million now on them,whats a few more million hey.

I would not look at it as scary.it is simply the nature of the beast.

[Steady As She Goes]

My son (who worked at his current company for the past 5 years) was told last October that his position was being eliminated due to downsizing. He would be terminated at the end of January. When he found out and came and told me, he was in tears. What was he gonna do with the holidays coming up? California has one of the highest unemployment rates in the country ... he thought he was doomed.
A couple weeks of polishing his resume, a couple more weeks researching job prospects around the area, a few interviews between Thanksgiving and Christmas, and he starts his NEW job, at a new company, next week, with a 20% increase in salary.

Scary, Scary, Scary turned into Joy, Joy, Joy!!!!!!!!!!!!!!!

[decoy409]

That's great for your son and I am hapy he has found work. I am happy whenever somebody is able to find work. As different parts of town produce different results.

However cross town or across the board you have a average of 100 applicants per 1 job available. Like it or not,that's the stats. You will find the population factor being one of the main catalysts for such.

[Steady As She Goes]

However cross town or across the board you have a average of 100 applicants per 1 job available. Like it or not,that's the stats. You will find the population factor being one of the main catalysts for such.

Not sure where you're getting your stats from ... But even in a heavier populated area like San Diego ... and with one of the higher unemployment rates in the state ... there were not even 10 applicants for the job my son applied for. Same goes for the other companies he interviewed at ... not many applicants. maybe it was his field? Maybe it was the skills required? Maybe it was the education required? Don't know the answer. Apparently some jobs attract a LOT of applicants, others do not. Where did you find your "average" 100 applicants per 1 job available statistic?