We in the West have been Serfs to the system for many a long year (US included). We have barely blinked when Govts handed out welfare to enterprise but get into something of a lather when Joe gets a state handout. so you don't think that $60T in unfunded welfare liabilities is anything to worry about? You are not alarmed at the runaway entitlements? I blinked at all the enterprise bailouts.
Those left behind will move to Western Europe and leech on the social social welfare system overhere.
Depends on when they first started getting bene's. Here's the state breakdown by # of weeks: http://money.cnn.com/news/storysupplement/economy/unemployment_benefits/index.html First batches are midwest & south if considered they received such beginning last fall when the big job cut waves started to take shape. The rest of the country goes starting early next year if new laws aren't passed yet that extend things even more (many states now are doing 72 & 79 weeks maximum between their laws and the federal mandate). Granted, the average check apparently is $293 which over a year gives you some $15K. Not much to live on for a family; doable w/some struggle if you are single. In 72 weeks (18 months), one could have a decent chance to find something even if it isn't much. Hell in 18 months you could learn a new skill or two that would get you going into better profitability.
There are no jobs out there.......3 years ago when I got out of college I could get 2-3 interviews a week if I applied for enough jobs......now I'm lucky to get 1 interview a month regardless of how many resumes I send out......there are no good jobs out there whatsoever
Granted 72 weeks or so is a long time to be on it and nobody wants to be on it for that long......however many people will get there and they will be forced to extend it......they have no choice
watch the job numbers, they will tell all. IMHO, Jobless rate will continue to climb and climb well into the 12/13% (GOV NUMBERS and we know what that means) by first quarter 2010. Here is the catch, Industry, Manufactures are gaining foot. The weak are still gona fall and be taken over by the stronger nevertheless, orders across all industries are starting to pick up. Of course the regions very, from East To West as far as what what degree the industries are seeing orders...but over all, including Construction....it seems from my experience in that past month......clients are talking about orders coming in and profits rising. Now, what does this mean when the Pundits speak about the Stock Market, Climbing the Wall of Worry into the Court Yard of "Hysteria" over very weak earnings? You need a serious run up before you can truly crash.....in true capitualtion form. Im just saying. The Talking heads and Wallstreet want to keep their name in the game because they are fighting for their life and image. So far, all indicators point to a jobless recovery. So all those who are out of a job, most are SOL. Not gona find a job even close to the wage earnings that they had before. Most will not find a job. What does this do to the economy.....I't dosent take a "Economist" to figuer out the answer. And the Stock Market is on its 7th day up for what reason? The Wealth created by the market for most, is all but gone if not pennies left....the market is a non-factor for the average joe now. and , we can still have a sound recovery without a Strong Stock Market in the Public Sector. Oil back above 60 and heading higher on the account of "the bleeding has stopp'd. Those in the Oil Game believe the recovery will be slow but steady and that industry world wide will start churning again. The consumer is a non factor as far as "Gasing up". Gas prices have stayed steady all summer, yet oil keeps wanting to go higher ...consumers are driving less this year than when oil was at 140. However, Oil is not retreating back to 40s or 30s. Class warfare has begun with this new administraction and our economic condition will reflect the damage. The "Haves" will continue to produce, will continue to spend and will continue to build wealth. The "Have nots" will fall upon the GOV to take care of them, many MIddle Class will be forced into becoming "Free Loaders" leaching of the TAX system that Congress wants to put into place. The debate on the Ecnoomy and the Market is mute at this point. All is "Local". So, for those who are working and making money, these are great times....bargins upon bargins upon opportunities to get into all kinds of great financial positions. You can buy far more things now than last year. Have you been shopping? I have never in my life been able to bargin for the new Sony Flat Screen, or the Jeans I want or even upgrade into a car that is less than a year old, luxuary sport car for a great price. RE is all over the place. You can pick up a vacation condo in some area's for around 150k....... THESE ARE GREAT TIMES but not for the masses. The division is reversable, the division that has begun in this new war on "CLASS". CNBC, Wallstreet Journal, all those Brokerage Houses, are scrambl'n to keep ECONOMICS at the forefront of the debate. The debate was over when OBAMA was elected.
NY also just passed a 2% surcharge on Utilities and 3.4% surcharge on Health care....for Business owners... NY is fucked. Look at their two largest Pension's....all but bust. NY politicians are destroying the Best City in the World and one of the Best States.
One interview per month? Shit, where the hell are you sending resumes? I know guys who have gotten ZERO interviews per year. Dude, you're rockin'