[Tyler_JC]

Don't forget that unemployment is a lagging indicator.

During the 2000-2001 recession, unemployment didn't peak until July of 2003.

But the Dow Jones had already risen 22% off of its October 2002 lows by that month. By waiting until the peak of unemployment, you miss much of the bull rally.

Moreover, you wouldn't know in July that unemployment had peaked. You would need to wait another few months to make sure the numbers were coming down. By then you could have missed as much as 30% of the run-up.

[SeaGypsy]

http://articles.moneycentral.msn.com/Ba ... index.aspx

The Labor Department's nonfarm payrolls report will probably show that 650,000 to 700,000 jobs were lost in March. That will push the unemployment rate up to about 8.5% from 8.1% in February when 651,000 jobs were lost.

http://articles.moneycentral.msn.com/In ... tch_090403

[deMolay]

The number of jobless climbed again. If GM and Chrysler go down it will be higher again. http://www.bloomberg.com/apps/news?pid=20601087&sid=aG_Qy7Fq15hg&refer=home

[TreebeardsUncle]

Actually, with continued automation and demands for greater education, experience, and youth, a large portion of the population will be rendered permanently unemployable.

There is always work for those who are young, skilled, and credentialed in that which it takes to destroy and replace people for the greater enrichment of already wealthy administrators, executives, and investors.

[Voice_du_More]

There are days TreeBeardsUncle when I think old Entish is no longer a language and then days I know it is.

I wish you were wrong but the shoe fits so well that I cannot deny the system is going to destroy itself and some form of insurrection is almost guaranteed at this point. The American Dream has been found out to be the American Ponzi Scheme and people are none too happy about it.

[Ache]

As economy worsens, more women give strip clubs, adult films a try
$this->bbcode_second_pass_quote('', 'A')s a bartender and trainer at a national restaurant chain, Rebecca Brown earned a couple thousand dollars in a really good week. Now, as a dancer at Chicago's Pink Monkey gentleman's club, she makes almost that much in one good night.The tough job market is prompting a growing number of women across the country to dance in strip clubs, appear in adult movies or pose for magazines like Hustler.

Employers across the adult entertainment industry say they're seeing an influx of applications from women who, like Brown, are attracted by the promise of flexible schedules and fast cash. Many have college degrees and held white-collar jobs until the economy soured."You're seeing a lot more beautiful women who are eligible to do so many other things," said Gus Poulos, general manager of New York City's Sin City gentleman's club. He said he got 85 responses in just one day to a recent job posting on Craigslist.

The transition to the nightclub scene isn't always a smooth one _ from learning to dance in five-inch heels to dealing with the jeers of some customers. Some performers said they were initially so nervous that only alcohol could calm their nerves. "It is like giving a speech, but instead of imagining everyone naked, you're the one who's naked," Brown, 29, said.

Eva Stone, a 25-year-old dancer at the Pink Monkey, said dealing with occasional verbal abuse from patrons requires "a thick skin." Makers of adult films cautioned that women shouldn't rush into the decision to make adult movies without considering the effect on their lives. "Once you decide to be an adult actress, it impacts your relationship with everyone," said Steven Hirsch, co-chairman of adult film giant Vivid Entertainment Group. "Once you make an adult film, it never goes away."

[Ache]

link $this->bbcode_second_pass_quote('', ' ')The economy's gone bust, and so have they. Scores of professional New York women stripped of their six-figure jobs are now working as "gentlemen's club entertainers" at upscale Manhattan jiggle joints. Former Wall Streeters, fashion executives and real-estate agents are pole dancing and stripping for as much as $1,500 a night -- but also because they like the flexible hours.

Randi Newton used to work at Morgan Stanley before the crash but is now an "independent contractor," pole dancing at Rick's Cabaret in Murray Hill three or four nights a week. She says she makes "$160,000 a year on tips alone.". She said: "I went with friends to a strip club and the manager offered me a job as a dancer. I thought it was different. And fun."

Peter Feinstein, owner of the Sapphire Club on East 60th Street, which opened in January, said, "I am receiving a lot of applications from women who recently lost their jobs -- in particular New York City real-estate agents." Katie Haverton, 27, is one of them. She worked as a broker for a large real-estate company for three years until January, when she says she hadn't made a sale in six months and had $2 left in her bank account. She now performs at Flash Dancers in Midtown.

"With real estate, you can work 10 hours a day showing people apartments and you never know when the next sale will be," said Haverton, who lives on the Upper East Side. "But with dancing, the money is instant. Now that I make better money as a stripper than as a real-estate agent, I'm going to buy my own apartment." Becky, 24, who lives in the East Village, was a pastry chef before becoming a "massage girl" recently at Rick's.

"I couldn't find anything after I got laid off because it's hard to land a chef job these days," said Becky, who asked that her last name be withheld. Jiggle-joint owners say they are hiring more "talent" than ever right now, due to a surge in business. A rep for Flash Dancers said it receives 40 applications a month to fill just five positions, while 50 candidates a week vie for positions at Rick's, said its president, Eric Langdan. "These places give men hope," Langdan said. "Even in the worst of times, for us it's the breast of times."

[jbrovont]

I've spent a good deal of years working in and around the mortgage financing industry in which by and large, real estate agents seem to be viewed as prostitutes and brokers as their pimps. I've even heard loan officers at some of the largest banks in the country privately joke about "calling their hoes" for financing leads. What a dark irony! I thought I'd find this piece funny, but really it's just sad. Ten years ago, who would have thought...

$this->bbcode_second_pass_quote('', ' ')Katie Haverton, 27, is one of them. She worked as a broker for a large real-estate company for three years until January, when she says she hadn't made a sale in six months and had $2 left in her bank account. She now performs at Flash Dancers in Midtown.

[Sixstrings]

$this->bbcode_second_pass_quote('', 'I')'ve spent a good deal of years working in and around the mortgage financing industry in which by and large, real estate agents seem to be viewed as prostitutes and brokers as their pimps.

[lowem]

$this->bbcode_second_pass_quote('Sixstrings', 'T')hen again.. at least the realtor and the ho get to keep 50% of the money they bring in. Now let me ask you.. do the employees at your workplace get a 50% cut of all the money coming in?

[Fishman]

So the new "talent" will push others out of these jobs, down the flesh ladder so to speak. More, um, talent, moving out on the street. Supply(?) exceeds demand (possible?), prices drop. Markets stabilize. Economic 101.

[EnergyUnlimited]

If too many join in, each will end up earning $50 a night.

[wisconsin_cur]

$this->bbcode_second_pass_quote('cbxer55', '
')I wonder if he is hiring male strippers as well?

LINKY-Pinky

[Sixstrings]

$this->bbcode_second_pass_quote('', 'T')he number of U.S. job openings in April sank to the lowest level in nine years, with 5.4 unemployed workers competing for each vacancy, reported the Bureau of Labor Statistics today.

There were 2.5 million job openings nationwide in April while 13.7 million people were unemployed. Since June 2007, the number of U.S. job openings has dropped by 2.3 million — a 47% decline.

Heidi Shierholz, an economist at the Economics Policy Institute, predicts that the outlook for job openings probably will have worsened in May. The BLS reported the number of unemployed workers increased by 787,000 last month. Based on that number, Shierholz estimates the number of workers competing for each opening will rise to 5.7.

“While recent labor market reports have indicated that the pace of job loss is slowing, new jobs are not yet being created, and unemployed workers are facing an increasingly uphill battle in the search for work,” she said.
Shierholz noted that at the beginning of the recession 18 months ago, there were only 1.7 job seekers per opening.
“The line of applicants waiting for each job is now three times longer,” she said.

Some employers were hiring. The BLS reported 4.2 million jobs were filled nationwide in April, but that was down 15.9% from April 2008.
In the West, 1.1 million people were hired in April, up from 854,000 in March but down from 1.4 million jobs filled in April 2008.
http://economy.freedomblogging.com/2009/06/09/5-jobless-workers-vie-for-every-opening/

[Tyler_JC]

Do they have any data about the job-seeker ratio of the past couple recessions?

It might be nice to have something to compare this to. Otherwise, I don't really know how unusual this figure is relative to other downturns (but I'd imagine it's much worse).

I've heard that the jobless worker to job opening ratio in the UK is like 8-1 right now.

[jbrovont]

"Job openings" is a little deceptive. Typically, this number includes part time jobs, just as "employed" includes people employed part time, and Walmart hiring four ten hour a week greeters counts as "creating four jobs."

Also, "unemployed" job figures only include people who are elligible for unemployment, and actually file. The real number is much higher, and depends on who you're asking to estimate it.

[MarkJ]

We've always had dozens of job inquires or job applicants for every available warehouse/office position, but many job seekers aren't qualified, aren't good performers, or they're only going through the motions to satisfy extended unemployment and public assistance work search requirements.

Our job inquires and applications have been down recently due to seasonal employment and the seasonal underground economy.

$8 to $9 per hour part time, seasonal and high turnover jobs with little or no benefits has been the compensation ceiling for many local unskilled laborers since the early/mid 90s.

[jdmartin]

$this->bbcode_second_pass_quote('Tyler_JC', 'D')o they have any data about the job-seeker ratio of the past couple recessions?

It might be nice to have something to compare this to. Otherwise, I don't really know how unusual this figure is relative to other downturns (but I'd imagine it's much worse).

I've heard that the jobless worker to job opening ratio in the UK is like 8-1 right now.

[Prince]

Thousands clamor for limited Puyallup Fair jobs

Goes to show just how bad things are. The Puyallup Fair is one of the bigger fairs on the West coast. Basically, your typical fair--lots of deep-fried, super-sized, fried junk food. This hits very close to home, as this is my hometown. Traditionally these fair jobs are for high schoolers and college kids looking to make some extra spending cash before school kick in high gear. My sister worked there one year, and the work was always plentiful (she says it was the worst job she ever had). Basically it was always a struggle to find workers. I couldn't believe that people are fighting for these jobs. I read in a different article that people tried to cut in line and there were fights breaking out. It makes me more appreciative to have work in the first place.

Just to clarify, this is NOT a job fair. This is an actual 16-day fair looking for temporary workers near minimum wage. People started lining up at midnight and several thousand were turned away. Unbelievable.

[Arsenal]

Wow. So 8.85 an hour and there are 3000 jobs. 600 applicants are processed a day. Thousands line up and people think we are recovering??