Posted by Bill(Wis) on March 16, 2009 at 17:40:29 from (71.249.198.250):
In Reply to: O/T Recession posted by Ben Grimes on March 16, 2009 at 07:13:35:
Ben Beranke announced yesterday that we could recover in 2010, IF..... I look at it this way. We always have about 4% of the workforce unemployed even when times are the best. National unemployment rate is now almost 9%. Sooo...that means that 91% of the available workfoce is employed. BUT, 4% is always unemployed. Sooo.... that means that we're only seeing an effective reduction in employment of about 5%. So far, anyway. The way some people talk, you'd think we were in the depths of the greatest depression ever. I don't personally know anyone who is "out of a job" because of this economic downturn. I don't see very many help wanted signs but I do see some. I know some foundry empoyees who were so used to the overtime they were getting for years and years that they find it pretty hard to get by on a normal 40 hr paycheck. I know that the RV industry is flat on its back and unemployment in those towns is very high. "When your neighbor is out of a job, it's a recession. When you're out of a job, it's a depression."
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