Dubai?
I wouldn’t be that anxious of the US economy. It will persevere.
lol you should have just given him back his plate. Did he ever get it back?
which unemployment figure us that graph? Does it account for the changes in calculations over the years?
When you assume something can never end, that is usually when you risk allowing it to end.
U3
Unemployment Defined
The official definition of unemployment used by the BLS includes anyone age 16 or older who is not institutionalized and is not currently employed, but able to work, available for work, and actively seeking work. Unemployment is sometimes thought to include only those individuals who are drawing unemployment insurance benefits. However, many outside this group are considered to be unemployed. Examples include those who have exhausted unemployment benefits but continue to seek work, new labor market entrants – including recent high school and college graduates – and those who are not covered by unemployment insurance, such as the formerly self-employed.
The official definition of unemployment also excludes certain groups who are sometimes thought of as being unemployed or “underemployed.” Those who would like to work, but who have stopped looking for work – so-called discouraged workers – are not counted in the official definition because they are not actively seeking work. People working part time who would prefer full-time work are also not counted as unemployed because they are working – albeit fewer hours than they would like. Finally, those who are not employed (i.e., did work for pay or profit) and do not fit the above definition of unemployed are classified as “not in the labor force.”
More bad news…
http://www.wgrz.com/news/local/story.aspx?storyid=62717&catid=37
It seems everyday there are more jobs cut.
We have been “OK” so far thanks to some military orders coming in.:snky:
I didn’t even realize buffalo had any remnants of the steel industry remaining.
I think the only thing left now is the 13" bar mill.
If that ever closes they can use the facility for something totally new and different.
hopefully they were smart enough to take advantage of their free education
Difference this time is it isn’t a draft.
God Damn. I’m on a conference call about risk-weighted assets for the upcoming year and they’re making us weight all subprime mortgages as having a 26% CHANCE OF DEFAULT IN THE NEXT YEAR.
This is either an overreaction, or we accidentally the economy. THE WHOLE THING.
What were subprime mortgages weighted at?
Not entirely sure, I wasn’t here yet when finance set them for '08 and i’m not a bean counter in reg reporting that could look them up. But the call had a mass-gasp.
FAZ $2,000??? I find it comical the % of default we see. I mean this many people couldn’t setup a decent budget? Really?
yeah, no shit.
then again, too many people live outside of their means. All it takes it a light gust of wind to take down a card house (or lending institution)
Just read this…
North American raw steel production fell by 5.5% in 2008 versus 2007, with US output totaling 91 million metric tons (-6.8% versus 2007)
China produced 38% of the world’s steel last year, and its 502 million metric tons mark the first time any country has produced more than 500 million metric tons of steel in any year.
This too…
2008 New York - Total private sector jobs down 122,200. Government jobs up 800. Sweet!
Manufacturing jobs down 20,300.
More than 1 in 5 people in NY work for the government. Super!
so you’re more upset about the 800 people added to government payrolls that at least do work for their money than the 122,000 people that private industry just added to the government payroll?
I will assume you are smarter than that.
:io: