No Job at All! Trading Screwed Labor Dept report.

Discussion in 'Economics' started by NoMoreOptions, Oct 9, 2003.

  1. The true is that there is no job out there at tall. Job loss number continue to be on the plus side. JOb claim fells only because extensions run out. People stay at home without no incoming money whatsoever.

    nO joB aT ALL! "They" are at it again.

    Trade it, but do not belive it.

    P.S. please move this thread to trading forume after the announcing period fades.
  2. acrary


    While there may not be more burger flipping jobs, at least we seem to be in the right field. I remember the days when a currency trader was happy to make 160k. Did anyone see the Greenwich Associates compensation blurb on the bottom of page 49 of the 11/2003 Active Trader? Average traders total comp. at a hedge fund 455k. Average portfolio managers total comp. 850k.
    Just a little better than the minimum wage jobs.:D :D :D
  3. CalTrader

    CalTrader Guest

    ...Actually what we are seeing is a very modest pickup in hiring - at least in the west. This is usually a sign that things elsewhere are also picking up. In the last few recessions the west has lagged the nation in employment and when we see a pickup here it usually means that the pickup already has begun in other regions. Another of my rule of thumb indicators is the traffic I encounter on business trips to the Silicon Valley region. In this area the roads are more conjested and there are more business travelers at the San Jose Airport. I have also noticed this in places like Seattle and Portland. In our own companies business has picked up very modestly as well.

    Essentailly there appears to be a small component of business spending and rehiring: this is a different situation than earlier this year in the first and early second quarters ....
  4. omcate


    We should be grateful for all the new technologies, cheap online brokers, etc. to make trading more comfortable. Ten years ago, the commissions of the full-service brokers, bid-ask spreads, etc. were simply too big. The barriers to entry used to be much higher.

    :p :p :p
    :D :D :D
  5. nkhoi

    nkhoi Moderator

    amen to that
  6. Mecro


    Well maybe in the west, but in the east, things are only getting worth. A piece of shit entry level computer job is getting 100s of applicants with 10+ years of experience.

    I wouldnt be too fooled by a few companies actually doing a little hiring. A lot more firing going on.
  7. ramora


    A good article in Wired magazine today.,1367,60854,00.html?tw=wn_tophead_6

    "Not So Quiet on Tech Job Front "

    AN FRANCISCO -- Tech job postings on two popular online employment sites have increased sharply, a sign that the long moribund job market may finally be turning around.

    Craigslist tech job postings in the San Francisco Bay Area have doubled from a year ago and are up 50 percent from six months ago, said CEO Jim Buckmaster. Activity has particularly picked up in the past four weeks, he said.

    A similar picture has emerged at, one of the Web's biggest job sites. Overall listings are up 19 percent in the past six months, said founder Jeff Taylor. The increases are centered in such tech job categories as software development (39 percent), call center jobs (36 percent) and engineering (21 percent).

    Noting that activity in the San Francisco area often presages shifts in the broader tech marketplace, Taylor said, "I've spoken to a couple of people in San Francisco in the past 48 or 72 hours, and San Francisco is popping right now. We're being anecdotal here, but in the past four or five weeks, San Francisco has come back to life."

  8. Ramora, that's a wonderful encouraging news, isn't it? I think I finally will manage to get what I want in this newest development, the Eruption of hiring tides.

    Thank you. Good luck to you and me.

  9. i'll take some of that, thanks. wow.
  10. omcate


    There will be little job recovery in the high tech or IT area. Not only companies pay less for outsourcing, they may get better quality on average. For example, if you pay a programmer US$20 per hour in the States, he/she will keep on complaining, and look for a better job continuously. In India or China, if a programmer get this type of salary, he/she will be very happy coding by day and by night. Call center workers is another example:

    For one thing, such workers are better educated than their U.S. counterparts. According to Elio Evangelista, a senior analyst at independent research firm Cutting Edge Information, virtually all Indian call-center workers have college degrees. By contrast, many of their American counterparts are high school grads. More education can be helpful as consumers increasingly need complex technical or financial information.

    More important, call center work is considered a lucrative, successful job in India, not a dead end. That often translates into a more helpful, friendly phone manner. Patrick Hanlin, CEO of LiveBridge Inc., a Portland [Ore.] company that handles customer service for major corporations worldwide, says he gets 80 applications for each position in India and about four in the U.S. Moreover, only a fraction of his Indian employees leave each year; annual turnover at U.S. centers is six times higher. That means Hanlin's training dollars go further because his employees stick around longer to apply their customer service skills.

    Consumers care about how well their call is handled, not whether it's answered in Little Rock or New Delhi. Clearly, the benefits of globalization can extend well past the bottom line.
    #10     Oct 21, 2003