12.3% how high will it go?

[Dis]

http://www.lvrj.com/news/51091377.html

12.3% unemployment in my city. Although the actual unemployment is much higher. On the bright side we aren't Detroit. I've never seen it this bad. We've set records for unemployment in our state. And things are looking like they'll be worse next year.

This is worse than 82, which was bad for our state. I don't remember much, but I do remember my dad being out of work alot. I think it was one of those things that encouraged me not to be poor. I couldn't stand being poor as a kid. And I think 82 is what I remember most. Although we were generally poor the whole time I was a kid...

I know the economy must correct itself, I just hope it doesn't last more than a couple years. I'm second to last on senority myself. I think my job is safe, for now. We've already gone through 2 rounds of layoffs. My place should be okay unless it closes (and my casino is losing money- so it could possibly close). Most likely we'll get sold, and the new owners could possibly lay us off, though doubtful.

As for all the others. I wish them the best. I don't know how people survive without a job, I really don't. How do they afford a place to live, and food? And where I live you need electricty. It got up to 111 thursday.

Anyways post your thoughts on unemployment, and your local unemployment numbers if you know them.

[Ben Kenobi]

I don't know how people survive without a job, I really don't. How do they afford a place to live, and food?

Live off savings for the most part. I can make do on 500 a month.

[Dis]

I was under the impression most people don't save. I could actually survive probably 5 to 10 years without income (my house and car are payed for). But many people live paycheck to paycheck.

I always wondered exactly how people survived the great depression. I've read grapes of wrath (but don't remember any of it lol). Where did people get money to eat? I realize many people lived in shanty towns and didn't have to pay utilities and rent. But they still had to eat.

[asleepathewheel]

Does vegas have a line on their own unemployment? wonder what the over/under is for jan 1?

[Dis]

we should lol. I'd take that bet.

[DaShi]

My parents should be moving out there this week. Or was it last? I really should stop drinking.

[Ben Kenobi]

I was under the impression most people don't save.

Most people have savings and a negative net worth, where their liabilities exceed their assets.

[Dinner]

Locally unemployment is around 10% and rising. We didn't just get hit by the housing bubble so much as mangled.

[Zkribbler]

http://www.lvrj.com/news/51091377.html

...As for all the others. I wish them the best. I don't know how people survive without a job, I really don't. How do they afford a place to live, and food? ...

I dunno. Back in the Olden Days when I was a kid, people saved. When the bad times hit, we had a cushion to fall back on. But nowadays, wow.

In the Bible, Pharaoh foresaw seven fat years followed by seven lean years, so he stored Egypt's surplus food to be used during the seven lean years. But we gorged out on a seven-year barbeque. Now the hungry years are upon us, and all we have in our pantries are stacks of bills which are overdue.

[SlowwHand]

Buy a tent. Seriously.

[Felch]

I always wondered exactly how people survived the great depression. I've read grapes of wrath (but don't remember any of it lol). Where did people get money to eat? I realize many people lived in shanty towns and didn't have to pay utilities and rent. But they still had to eat.

I'm a young man, so this is based on stories I've heard.

Back in the day, people were generally more used to poverty, and so you could survive like a normal person on under the table jobs, friends and families, and charity. As poor as America was, it never failed on a major scale at feeding its people X.

[Flubber]

Alberta is showing a 6.6% unemployment rate. Thats up a lot compared to where we were province wide but I expect that Calgary is a little lower

[Flubber]

I was under the impression most people don't save. I could actually survive probably 5 to 10 years without income (my house and car are payed for). But many people live paycheck to paycheck.

Five to ten years ?? I wouldn't last that long

I could probably last a year on my savings and perhaps another if we started cashing out our retirement funds. After that I guess the equity in the house would keep us going a little bit longer (I don't worry too much though-- while I am the primary breadwinner, Mrs Flubber is a nurse with seniority so barring tragedy to her, we would always have at least her salary if my job evaporated)

[AAHZ]

I live simply, with a simple job, and i even had to fork out most of my savings to repay a debt this week.

But im happy; mentally, physically, and still financially strong because i can build up that savings in just a few months. My job is stable, and i am relatively healthy with a solid insurance plan for the next year or 2 until i switch.

My city has over 10% unemployment, is 3rd in the nation in cruelty to homeless and is the top of the crime charts as well. I lived in that area of town a few years ago, i dont know how i survived as misguided and emotional as i was.

I found myself and wisdom at the right moment... Blake really did save my life showing me Buddhism in that thread, and Forumwarz saved my life by showing me how ridiculous i was acting.

Keep whatever faith you have strong, keep yourself in check, and stay happy.

[SlowwHand]

Hit it or pass it.

[Lancer]

I've been getting ready for hard times for as long as I could, since I could get ahead. Now we have a couple of rice fields and are working on buying 10 mango trees. I still hope to find and afford a third local rice field. We have another one but its not local and doesn't produce much. Then I have a 12 v hookah dive system which runs off a battery and a solar charger (could use another one) for off the grid. Last thing then is a small sailboat. When the project for Zkrib is done the family carpenters and I (also a carpenter) will build something we've never built before, a catamaran out of bamboo. I have the epoxy and biaxial fiberglass for it already.

Surviving the times to come won't be for me. If all this comes about as I believe it must I'd imagine my meds will stop coming down the line pretty quick. My wife and her family will do ok I hope, with all that I've prepared for her.

I still hope for a last economic gasp, maybe 2 to 5 years, maybe even 10 or more? where things get good again. That would allow me to put a finishing touch on things.

[KrazyHorse]

[Lancer]

I'm glad you're enjoying yourself KH, (if your laughs are on me) and I do hope I'm wrong. If I am, well all that rice gets eaten now or sold, the mangoes we might own ditto, the diving system will be a blast when we finally get a boat built, as will the boat, I hope.

Consider while you bust a gut in jocularity that 46 cents of every dollar the US government spends this year is borrowed, which is why I hope for a short lived delay in the inevitable.

Glad you had fun.

[Dinner]

And that leads to world wide social & economic collapse how?

[Lancer]

I'll just let it play out and then let you tell me.

[AAHZ]

Fantastic answer, sir

[DanS]

The way many people survive is by collecting unemployment benefits throughout the recession -- unemployment benefits have been extended indefinitely. It's not a ton of money, but it will keep you fed.

[DaShi]

And there's always crime.

[Lancer]

Fantastic answer, sir

Thank you sir.

[chequita guevara]

The government keeps several indicies for unemployment. The figure used by the government as its "official" rate is U-3. Nationally, U-3 for June was 9.5%. U-6, however, was 16.5%. U-6 includes discouraged and underemployed workers, as well as those who've run out their benefits without being able to find a job. That's 1 in 6.

In Florida, U-6 is 20%, or 1 in 5.

We haven't hit bottom yet.

BTW, my understanding is that how unemployment was calculated in the Great Depression was U-6.

On the plus side, I've got some possible freelance work.

[KrazyHorse]

Che, modern sampling methods weren't in place during the 30s. The measures of unemployment available from those times are not strictly comparable. However, empirical work on the subject has indicated that peak U3 unemployment (if it had been measured) would have hit ~25% in the 30s

http://www.scribd.com/doc/13282170/U...1930s-vs-Today

I think that you'd be a lot better informed if you were willing to use more varied sources and applied a bit of critical thought.

[Jon Miller]

From what I have seen, this is just equivalent to the early 80s... maybe even better for some?

Remember all, we were at record low unemployment for years... the big fuss is because this was a financial problem (which mostly hit the wealthy/etc) and because we aren't use to it.

Now, I actually think that it could get worse because the financial problems have effects that reach long, and I am worried that the problems haven't been fixed really... but what we have seen so far isn't so bad (possibly because we have pushed off some of it to the future).

JM

[Zkribbler]

The government keeps several indicies for unemployment. The figure used by the government as its "official" rate is U-3. Nationally, U-3 for June was 9.5%. U-6, however, was 16.5%. U-6 includes discouraged and underemployed workers, as well as those who've run out their benefits without being able to find a job. That's 1 in 6.

Of course, even U-6 doesn't include prison inmates, who are necessarily unemployed. And imprisonment/capita has increased several times over since the Great Depression.

I'd guesstimate that 75% of American adults are employed; and 25% are unemployed.

[Lancer]

Great, now all we need is a dust bowl.

[HalfLotus]

Local newspaper say Georgia is at its highest unemployment rate ever. So much for the 'new economy'.