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JOLTS Summary: More Government Workers Quitting Voluntarily, More Private Sector Workers Getting Fired

Tyler Durden's picture




 

There was nothing to smile about in today's May JOLTS release from the BLS. Those expecting a pick up in job openings (traditionally the key requirement for an sustained increase in NFP) will have to wait some more, after the May number came at 3.0 million, the same as April. This is modestly better than the all time low of 2.1 million in July 2009, but is a far cry from the 4.4 million when the Depression started. And while there was no good news in Job Openings, there was some bad news in Total Separations which increased by over 200K sequentially from 3.833 MM to 4.059 MM. And for the first time since late 2010, the separations rates (defined to include voluntary quits, involuntary layoffs and discharges) rose to 3.1%, the same as the hires rate. Should the separations rate (especially if driven by involuntary departures) surpass the hires rate it will likely portend another period of NFP weakness ahead. What is most surprising is that contrary to conventional wisdom, the voluntary quits level among government workers increased from 38% to 41% of total, while the layoffs and discharges level dropped from 44% to 38%, which means that government workers were not "let go" - they left voluntarily. This throws a bit of a wrench in generic interpretations of the surge in the government component of the unemployment rate. What is worse is that the quits rate in the Private employment stayed flat at 50%, while the layoff and discharges rate increased from 42% to 44%. Ironically, it is Private workers who are getting fired more, while it is government workers who are quitting voluntarily.

Monthly big picture summary:

Drilling down into the key Separations number:

The quits rate can serve as a measure of workers’ willingness or ability to change jobs. In May, the quits rate was essentially unchanged for total nonfarm (1.5 percent), total private (1.7 percent), and government (0.6 percent). (See table 4.) Although the number of quits rose from 1.5 million in January 2010 (the most recent trough) to 2.0 million in May 2011, the number remained below the 2.8 million quits when the recession began in December 2007.

The number of quits (not seasonally adjusted) in May 2011 was higher than 12 months earlier for total nonfarm, total private, and government. Several industries experienced a rise in the number of quits over the year, and federal government experienced a decline. In the regions, the number of quits rose in the South but was little changed in the other three regions. (See table 8.)

The layoffs and discharges component of total separations is seasonally adjusted only at the total nonfarm, total private, and government levels. The layoffs and discharges rate was little changed in May for total nonfarm, total private, and government. The number of layoffs and discharges for total nonfarm was 1.8 million in May, up slightly from the recent low point of 1.5 million in January 2011, but still well below the peak of 2.5 million in February 2009. (See table B below.)

The layoffs and discharges level (not seasonally adjusted) was essentially unchanged over the 12 months ending in May for total nonfarm and total private. The level decreased over the year for federal government, returning to a more typical level after a large number of layoffs in May 2010 of temporary Census workers. The number of layoffs and discharges was steady in the regions. (See table 9.)

And looking at relative contributions:

The total separations level is influenced by the relative contribution of its three components—quits, layoffs and discharges, and other separations. The percentage of total separations attributable to the individual components has varied over time at the total nonfarm level, but for the majority of the months since the series began in December 2000, the proportion of quits has exceeded the proportion of layoffs and discharges. Other separations is historically a very small portion of total separations; it has rarely been above 10 percent of total separations.

The proportions of quits and layoffs and discharges were last equal in November 2010. Since then, the proportion of quits has trended upward, again exceeding the proportion of layoffs and discharges, which has trended downward. In May, the proportion of quits for total nonfarm was 49 percent and the proportion of layoffs and discharges was 44 percent. The proportions were similar for total private with 50 percent quits and 44 percent layoffs and discharges. For government, the proportions were 41 percent quits and 38 percent layoffs and discharges. (See table C below.)

Full report

 

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Tue, 07/12/2011 - 10:31 | 1447613 Momauguin Joe
Momauguin Joe's picture

Turn On, Tune In, Drop Out...

Tue, 07/12/2011 - 10:47 | 1447668 Oh regional Indian
Oh regional Indian's picture

I think:

turn Off, Tune Out, Drop in 

works better in these times.

With apologies to the hopeless, CIA managed Godfather of psychedelics.

ORI

Tue, 07/12/2011 - 13:49 | 1448358 sitenine
sitenine's picture

This data is not surprising. The .gov is offering early out retirements. From my experience, this is likely a prelude to RIF.

Tue, 07/12/2011 - 13:58 | 1448406 fallout11
fallout11's picture

A RIF (reduction in force) is Fedgov speak for a layoff.

Tue, 07/12/2011 - 11:09 | 1447752 whatsinaname
whatsinaname's picture

Yes have heard of profs in Chicago university system take vol retirement to avail of the luxurious pensions under older plans. Not taking the vol might cost them 100s of 1000s of dollars in post retirement comforts.

Tue, 07/12/2011 - 11:46 | 1447887 Blithering ORSA
Blithering ORSA's picture

I was thinking more Steve Miller than Timothy Leary.

 

"Come on, take the money and run!"

Tue, 07/12/2011 - 10:31 | 1447615 Dick Darlington
Dick Darlington's picture

This together with the other bearish data, including NFIB small business optimism, explains why Russell 2000 is on green. Recessions really are bullish for equities...

Tue, 07/12/2011 - 10:37 | 1447629 SheepDog-One
SheepDog-One's picture

Yea until theyre suddenly and without warning, not.

Tue, 07/12/2011 - 10:38 | 1447632 A Man without Q...
A Man without Qualities's picture

Government borrows money from the Chinese to pay unemployed workers to buy shit made in China, clearly bullish.

Tue, 07/12/2011 - 10:48 | 1447671 snowball777
snowball777's picture

And pays back Chinese on backs of remaining employed workers.

To the moon!

Tue, 07/12/2011 - 10:32 | 1447616 treemagnet
treemagnet's picture

One group is getting a big buyout offer and the other is carrying one box of personal stuff being led to the door by a security officer.  Wonder which is which.

Tue, 07/12/2011 - 12:28 | 1448025 RKDS
RKDS's picture

Maybe they're trying to get some of their pensions before the angry and confused mob of sheeple we call "the private sector" lets the banks steal them too.

Tue, 07/12/2011 - 14:10 | 1448499 Things that go bump
Things that go bump's picture

I thought we already spent their pensions.

Tue, 07/12/2011 - 10:34 | 1447620 props2009
Tue, 07/12/2011 - 10:39 | 1447627 SheepDog-One
SheepDog-One's picture

USA takes the lead in the World Full-Retard Special Olympics!! 

YEAAAAAAYYYYYYYY!!

PS thats the worst chart spin Ive ever seen, 'USA leads the way' with a plunging line GDP headed to 2% and with this mornings data probably in the 1's, and in reality NEGATIVE when FED manipulation is removed....WOW thats real good news.

Tue, 07/12/2011 - 10:35 | 1447621 SheepDog-One
SheepDog-One's picture

Damn, people concluding its not even worth workin anymore? Rock on, summer of recovery!

USA! USA! Yes we CAN! Eat your peas!

Tue, 07/12/2011 - 10:38 | 1447634 Sudden Debt
Sudden Debt's picture

people want to fit in. And if you're the only one in your street who has a job, you don't fit in.

 

Tue, 07/12/2011 - 10:42 | 1447647 SheepDog-One
SheepDog-One's picture

YEP it must be uncomfortable these days at the cocktail parties being the only schlub with a job and still paying his mortgage. Got to fit in!

Tue, 07/12/2011 - 11:36 | 1447851 Cpl Hicks
Cpl Hicks's picture

A cocktail party with the unemployed- that sounds like one of those oxymoron thingies.

OT-check out the rack on that "how to stay asleep all night" ad. Careful- don't get all smothered up in those.

Tue, 07/12/2011 - 11:42 | 1447873 Blano
Blano's picture

Yeah ain't those somethin'??  I'd kill for a pair of those.

Tue, 07/12/2011 - 11:38 | 1447863 Race Car Driver
Race Car Driver's picture

+ 99

Tue, 07/12/2011 - 10:39 | 1447630 Sudden Debt
Sudden Debt's picture

Now why would anybody quite a government job these days?

you only have to work as hard as the one sitting on the left of you who does the same but sits next to a plant,

you get to spit on the taxpayers all day,

you get a raise just for showing up,

you'll never lose your job, you'll have a good pension for sure,

when riots brake out you're the first in line who get guns to shoot at people,

AND THE LIST GOES ON AN ON!

 

Tue, 07/12/2011 - 10:46 | 1447661 docj
docj's picture

Because you can get a buy-out and then, once the dust settles, get your old job back, probably with a raise, and it's lather-rinse-repeat.

I mean, that's pretty much what my dad (a retired public high school teacher) did - took the buy-out and 2-years later was right back at a different public school, essentially legally double dipping. Nice work if you can get it.

Tue, 07/12/2011 - 11:25 | 1447813 toady
toady's picture

I've seen this done ALOT, I've even done it, only in the private sector.

Everytime I hear about it they make sure to add 'its perfectly legal'. I also hear 'its perfectly legal' about the Wall Street crimes against humanity.

Yet another failure for our lawmakers. All this shit is STILL 'perfectly legal'.

Sorry... Shitty mood this morning...

Tue, 07/12/2011 - 12:16 | 1447988 MachoMan
MachoMan's picture

Bingo.  You retire, take the pension, et al, and then get bored of hanging out alone in retirement and then go back to the old job and double dip...  hang out with the ol' gang.  See this EVERYWHERE. 

The thing about it is, you can have 10, 15, 20+ years of public employment and still be relatively young... 

Of course, although they haven't reasoned through it this far, they're perfectly right to start recouping those benefits as quickly as possible given the likelihood they'll be defaulted on...  if not in part, then in whole...  smoke em if you've got em.

Tue, 07/12/2011 - 12:47 | 1448085 tarsubil
tarsubil's picture

Feds often pull this trick where they take the buyout, get a very nice pension plus benefits then come back as a consultant making more in salary. The bonus is they do not need to take out money for benefits since those are being paid for by their buyout. I think they end up taking home twice the amount of money while also getting their pension so they have just a huge increase in cash while not having to care about their job at all. It's nice. You could buy a lot of TP and lead with that extra cash although I don't think any of them are doing that. They are probably buying stocks and marble countertops so what goes around comes around.

Tue, 07/12/2011 - 10:54 | 1447694 ElvisDog
ElvisDog's picture

My wife left her job as a public school teacher last month - a combination of terrible parents, too many kids (5th grade) who couldn't read, write, or add 2+2, and a never-ended series of mandates and new directions from a bloated education bureaucracy. She got no buyout, no pension, she just couldn't take it any more.

Tue, 07/12/2011 - 12:40 | 1448070 weinerdog43
weinerdog43's picture

Best wishes to you and your wife. 

Tue, 07/12/2011 - 12:50 | 1448097 tarsubil
tarsubil's picture

That sucks. My friend is a school teacher and she hates it too. It is worse for those who care about their students and don't do bubble tests (see Atlanta schools for how this is a big bonus for lazy/corrupt teachers).

Tue, 07/12/2011 - 16:06 | 1449212 knowless
knowless's picture

around 3 of the young(20-30yo) women in my family chose to be teachers, they have all since left the proffession after the first few years and returned to graduate school to pursue something more lucrative.. the generation above them has a few teachers still, most won't be able to retire it looks like.  The stories about the shit they put up with is extremely disheartening.

Tue, 07/12/2011 - 10:58 | 1447707 SokPOTUS
SokPOTUS's picture

See?  Now the answer is so obvious.  They quit because they are being treated so unfairly.

Tue, 07/12/2011 - 11:30 | 1447835 wisefool
wisefool's picture

I've been told there is a brutal class system in government that mirrors the tenure system (surprise) in academia. The only competitiveness is the goal for promotion which solidifies "untouchability", which is not about competence but about political connections.

While this is going on, the work is not actually being done. And eventually vendors are brought in, who bring mid level, off the street contractors. They dangle the carrot of the easy government life if they do the work the gov'ies should have been doing the whole time. Except in the rarest cases, when the migrant workers are converted over to gov'ies they get the full serf treatment till they, as this article points out, quit, as they realize promotion is 100% based on two party political patronage. And hint: one of these party supports unions, for workers, who work for the government, are members of ........

FooBar.

Tue, 07/12/2011 - 12:16 | 1447993 MachoMan
MachoMan's picture

the peter principle?

Tue, 07/12/2011 - 16:09 | 1449221 knowless
knowless's picture

I have a friend who works for the unemployment department, and this sounds very similiar to his experiance, whenever I see him he rails about the bullshit he has to put up with..

Tue, 07/12/2011 - 11:39 | 1447866 Spastica Rex
Spastica Rex's picture

I quit my govt. job a year ago. I worked as a bureaucrat for an arm of the Oregon State Department of Education (more or less). My job was to encourage school districts to give up money that could have gone to classroom teachers to instead fund my agency and therefor my salary. I did this by warning them that there were new state and federal rules to comply with every year and if they didn't pay my agency (and me) to help them understand and follow these new rules, they would get in trouble and lose funding. Seriously. I was paid well. I could come and go as I pleased, as long as I showed up at meetings. I was paid to travel all over the northwest to attend conferences and trainings. I worked with groups of other bureaucrats who had never been in a classroom in their entire lives to tell real teachers how to do their jobs. What a joke. This is what education reform is.

Tue, 07/12/2011 - 11:58 | 1447927 Josh Randall
Josh Randall's picture

Enlightening, can't help but wonder how may other roles only exist to consciously sponge off of other beaurocratic agencies, whom themselves have no reason for exisisting.  

Tue, 07/12/2011 - 12:27 | 1448024 Spastica Rex
Spastica Rex's picture

Interestingly, the private sector loved my agency. We created many opportunities for vendors to get their "products" into the public schools. There is huge money in testing, "data management," teacher training, technology and other "tools" for school improvement. All of it is a racket and it's nurtured by a fully symbiotic relationship between government and business.

On a side note...In Oregon, we had some charter schools, which were public schools operating under different regulations than standard public schools. In fact, charter schools were lauded by the business community becasue they had less regulation and more freedom in design and management. At the same time, the business community incessantly howled for more and more regulations for public schools in order to "improve" them. See above. The world is nuts.

Tue, 07/12/2011 - 12:37 | 1448062 toady
toady's picture

I occasionally hear numbers like '100 administrators' per teacher, or per doctor in healthcare.

Sounds like a few too many to me, but if we got rid of them unemployment would skyrocket...

Who am I kidding! We will get to zero teachers per million (ZTPM) before we address management.

Tue, 07/12/2011 - 12:52 | 1448110 Spastica Rex
Spastica Rex's picture

There are way too many adminstrators. Unfortunately, you could shit-can them all and it wouldn't make much of a dent in the total cost of public ed. Nationally, something like 70% of the total cost of public ed is made up of teacher salaries and bennefits. This fact is not lost the big money players (Gates Foundation, Broad Foundation, etc.). All coorperate education reform is ultimately geared towards reducing the cost of teachers, either through the reduction of salaries and bennefits, or through the overall reduction in the numbers of teachers. Money freed up this way can then be utilized for testing, curriculum, and online education -- the big guys are all up in this space.

Tue, 07/12/2011 - 11:50 | 1447903 piceridu
piceridu's picture

+ funny!

Tue, 07/12/2011 - 12:45 | 1448057 RKDS
RKDS's picture

Now why would anybody quite work a government job these days?

you only have to work twice as hard as the one sitting on the left of you who does the same but sits next to a plant is a friend of a politico or was furloughed/retired and wasn't replaced,

you get to be spit on by the taxpayers all day,

you get a raise just for showing up unless you're non-union or they're raising your copays on insurance/retirement,

you'll never lose your job so welfare and subsidies can grow even more, you'll have a good they'll loot your pension for sure,

when riots brake out you're the first in line who get guns to shoot at people to be shot by your government or the mob of brainless simpletons who KEEP ELECTING THESE KLEPTOCRATS OVER AND OVER AND OVER AND OVER,

AND THE LIST GOES ON AN ON!

fixed that for you

(and of course the stupid strikeout tag is broken, just great...)

Tue, 07/12/2011 - 12:52 | 1448108 RKDS
RKDS's picture

I wonder, is my junker the original poster who failed to spell "quit" and "break" right yet fancies himself above paying for all of the big government benefits he reaps?

Tue, 07/12/2011 - 14:15 | 1448559 fallout11
fallout11's picture

Most likely, yes.

Tue, 07/12/2011 - 10:39 | 1447636 Seasmoke
Seasmoke's picture

and we move a little closer to civil war .......private vs. public

Tue, 07/12/2011 - 11:34 | 1447846 rwe2late
rwe2late's picture

 indeed, misdirected divisions are so helpful to maintaining plutocratic rule.

 - never mind the distinctions between top-level corrupt public 'servants' and public garbage collectors, or between wealthy CEOs and McDonald's cooks.

 - best to fight about the scraps at the bottom than the gluttony at the top.

It almost seems the inequities at the bottom were designed to promote in-fighting, while the disguised theft at the top avoids attention.

Tue, 07/12/2011 - 10:40 | 1447640 Oh regional Indian
Oh regional Indian's picture

JOLTS. Hmmmm....

The name has it, what is not clear is why it's jolting PMs.

Undercurrents. One thing not clear to me regarding jobs. Are people just not willing to down-size? Go local? Work on a farm? Exchange debt slavery for real goods freedom?

When localities function and faraway goods cost money, why is everyone and their uncle not ordering CKD bikes from China and assembling and selling them? Electric Scooter Dealerships? All kinds of US certified goods are from Sale via China. Start the reverse process. No one is going to start it for you. Then move back up the value chain. The brief but devastatiing deflationary cycle will provide awesome opportunities for people dealing in use-full goods as well as a stock piling opportunity of a life-time.

If you are looking for ideas, please get in touch. 

ORI

http://aadivaahan.wordpress.com/2011/07/08/july-15th-aug-15th-month-long-window-coming-up-initial-thoughts/

Tue, 07/12/2011 - 10:41 | 1447643 Gandalf6900
Gandalf6900's picture

Can anyone tell me how the financial services job situation is in the US

Tue, 07/12/2011 - 10:49 | 1447678 Mad Marv
Mad Marv's picture

I work in Nashville, Tn. Jobs and lending are both tight right now.

Tue, 07/12/2011 - 11:02 | 1447724 SokPOTUS
SokPOTUS's picture

Wall Street firms are laying off right now big-time.

They're front-running the crash.

 

Tue, 07/12/2011 - 10:41 | 1447646 LetThemEatRand
LetThemEatRand's picture

Just so long as they guy who hits the "buy" button to keep the market levitated even as the world crumbles around us doesn't quit (or suffer finger injury from hitting the button 1 trillion times per day), everything will be just fine.  

Tue, 07/12/2011 - 10:44 | 1447654 Sandy15
Sandy15's picture

That was just funny.  Sadly true, but funny!!

Tue, 07/12/2011 - 10:45 | 1447658 Sandy15
Sandy15's picture

That was just funny.  Sadly true, but funny!!

Tue, 07/12/2011 - 10:43 | 1447651 PositivelyNegative
PositivelyNegative's picture

Could it be that those "voluntary" seperations by Govt employees were ones that were offered packages to leave? And they took it because they knew it was either that or get fired  with nothing?

Tue, 07/12/2011 - 10:46 | 1447664 Miles Kendig
Miles Kendig's picture

A bit of insight into public sector "quits" is the % of those that are "temporary, not to exceed X time workers" who are automatically listed as quits when their position expires.  Then the standard practice is to reclaim them as hires when the temp position rolls over.  This practice is as wide spread iin the public sector as it is in the private and given seasonality we may be seeing the effects of downward pressure on local gov't especially in education.  We'll see if there is a marked improvement in this number in August and September reporting periods or if school districts follow the private sector and concentrate on cutting the "contract" service providers to meet the budget requirements.

Tue, 07/12/2011 - 11:05 | 1447739 InconvenientCou...
InconvenientCounterParty's picture

Public employees are being offered a choice; retire now or accept reduced retirement bennies. There are bullish undercurrents, so bear with me on this.

The "old guard" employees are leaving in droves. The replacements are entering with a vastly lower cost base, more energy and a better attitude. 

It's a real productivity gain not a death spiral. Just a couple of % points, but this trend should accelerate.

Of course there are dumbfuks that fail to get past the first soundbytes they heard on Faux news. That's cool. More opportunities for people that can think without the training wheels.

 

Tue, 07/12/2011 - 13:05 | 1448153 tarsubil
tarsubil's picture

LOL. Productivity gains. Wow, yeah, you don't have training wheels on. Keep telling yourself that one, brah. Never mind the fact that the old guard is still being paid while the new ones that replaced them get a one or two grade increase. And nevermind that neither group is producing anything. How do you get productivity gains on paper shuffling? Sometimes the level of ignorance about the government is just overwhelming. Do you honestly believe this "stuff" that you're shoveling?

Tue, 07/12/2011 - 13:42 | 1448239 Miles Kendig
Miles Kendig's picture

Look to the changes brought about by the change from CSRS to FERS in the federal sector before you try to jump off that trike.  Or take a look at what the process known as tenure means

Better luck next time, clueless

Tue, 07/12/2011 - 11:08 | 1447751 InconvenientCou...
InconvenientCounterParty's picture

Public employees are being offered a choice; retire now or accept reduced retirement bennies. There are bullish undercurrents, so bear with me on this.

The "old guard" employees are leaving in droves. The replacements are entering with a vastly lower cost base, more energy and a better attitude. 

It's a real productivity gain not a death spiral. Just a couple of % points, but this trend should accelerate.

Of course there are dumbfuks that fail to get past the first soundbytes they heard on Faux news. That's cool. More opportunities for people that can think without the training wheels.

 

Tue, 07/12/2011 - 11:11 | 1447766 InconvenientCou...
InconvenientCounterParty's picture

Public employees are being offered a choice; retire now or accept reduced retirement bennies. There are bullish undercurrents, so bear with me on this.

The "old guard" employees are leaving in droves. The replacements are entering with a vastly lower cost base, more energy and a better attitude. 

It's a real productivity gain not a death spiral. Just a couple of % points, but this trend should accelerate.

Of course there are dumbfuks that fail to get past the first soundbytes they heard on Faux news. That's cool. More opportunities for people that can think without the training wheels.

 

Tue, 07/12/2011 - 11:23 | 1447807 LFMayor
LFMayor's picture

that's cool. More opportunities for people who can post without the training wheels.

Tue, 07/12/2011 - 13:33 | 1448257 Miles Kendig
Miles Kendig's picture

Like minds. 

Tue, 07/12/2011 - 12:08 | 1447959 Buckaroo Banzai
Buckaroo Banzai's picture

"productivity gain" in government? There's no such thing. Go back to your HuffPuff fantasy world. The only way to make gov't efficient is to eliminate it. That's a FACT.

Tue, 07/12/2011 - 13:39 | 1448247 Miles Kendig
Miles Kendig's picture

Government by its very nature is inefficient.  Hire firemen when a fire breaks out?  If you want efficient law enforcement hire the nimrods working mall security.  The real acid test is in electing public officials that have the nuts to set limits AND give up their favorite cheese.

Might I suggest you travel to your nearest Marine Corps or Army combat instillation and scream at them that they're inefficient at dispatch

LOOOOOOL

Tue, 07/12/2011 - 11:30 | 1447829 InconvenientCou...
InconvenientCounterParty's picture

dup.

 

Tue, 07/12/2011 - 10:46 | 1447665 Gandalf6900
Gandalf6900's picture

Can anyone tell me how the financial services job situation is in the US

Tue, 07/12/2011 - 10:48 | 1447670 Miles Kendig
Miles Kendig's picture

Down from about 8.5mm to 7.3mm since Sep '08 with more layoffs announced

Tue, 07/12/2011 - 10:49 | 1447676 Gandalf6900
Gandalf6900's picture

thanks

Tue, 07/12/2011 - 10:48 | 1447672 MiningJunkie
MiningJunkie's picture

Things up here in the Great White North are peachy jobs-wise - nice to be oil-self-sufficient thanks to Alberta.

Tue, 07/12/2011 - 11:44 | 1447883 Cpl Hicks
Cpl Hicks's picture

Well that is just great news!

How many provinces do you have up there?

We could make Barry O's vision of 57(ish) United States a reality.

Tue, 07/12/2011 - 10:48 | 1447674 MiningJunkie
MiningJunkie's picture

Things up here in the Great White North are peachy jobs-wise - nice to be oil-self-sufficient thanks to Alberta.

Tue, 07/12/2011 - 10:50 | 1447679 High Plains Drifter
High Plains Drifter's picture

G Pap goes to his homeland for talks.

http://english.peopledaily.com.cn/90001/90777/90854/7436849.html

that giant sucking sound coming from israhole is the greek leadership, sucking the cocks of the new politburo , aka, the Israhole government.

Tue, 07/12/2011 - 10:56 | 1447697 Urban Roman
Urban Roman's picture

We are proud to inform you that your position is being converted to a volunteer position. You may take advantage of this wonderful job offer, or quit; your choice.

Tue, 07/12/2011 - 10:57 | 1447703 Gandalf6900
Gandalf6900's picture

 

pardon the triple posts

Tue, 07/12/2011 - 10:59 | 1447710 LetThemEatRand
LetThemEatRand's picture

Just so long as they guy who hits the "buy" button to keep the market levitated even as the world crumbles around us doesn't quit (or suffer finger injury from hitting the button 1 trillion times per day), everything will be just fine.  

Tue, 07/12/2011 - 11:02 | 1447721 PulauHantu29
PulauHantu29's picture

People are still spending....not paying their mortgages and credit cards...living for free and spending that money on fun stuff......het, why not...

Everyone wants a free lunch! as long as foreclsoures are stalled....and unemployment benefits and food stamps are plentiful...hey, why go to work? It's a new world my friend.

Tue, 07/12/2011 - 11:03 | 1447731 Mercury
Mercury's picture

What is most surprising is that contrary to conventional wisdom, the voluntary quits level among government workers increased from 38% to 41% of total, while the layoffs and discharges level dropped from 44% to 38%, which means that government workers were not "let go" - they left voluntarily.

How many in that 41% are rolling into another public sector job I wonder?

Tue, 07/12/2011 - 12:02 | 1447944 fallout11
fallout11's picture

Probably not that many given the now nearly cross the board budget/funding cuts going on at many a muni/county/state level.

I saw this week that Dallas/Ft. Worth couldn't even afford to keep its public pools open, despite 110 degree heat.

Tue, 07/12/2011 - 12:47 | 1448083 Mercury
Mercury's picture

If that's the case the real question becomes: who would be dumb enough to quit a government job in this environment?

Cutting services where it hurts most is the oldest trick in the book.  You'd likely be surprised at the types of jobs they passed over with the red pen before they decided to close the pools in Dallas...

Tue, 07/12/2011 - 11:18 | 1447790 HileTroy
HileTroy's picture

WOW!! I wish I could have got some of the good gubermentcheeze  but as a former small biz owner, playing the tax game like we all do, when my construction CO folded I did not get the luxury of all that good unemployment or any of the rest of that crap. Living in my truck with the clothes on my back, as i lost my house , my wife, kids relationship with my folks etc ect was pretty devastating. Five years of working 120 hours a week paid off for nothing.

But its all good I breath and they cant eat me......................... yet (soylent green any body) LOL

Hey after a year of looking for the most menial jobs I got a interview at a Medical Marry Jane dispensary ( WEED Bitchez a Growing industry) but what the hell 8 bones a hour to sell weed legal like that just rocks.

How sweet is that.

Remember NOTHING to worry about our "Professional Politicians ARE paid to KNOW more then us

 

Tue, 07/12/2011 - 12:49 | 1448094 RKDS
RKDS's picture

Sorry to hear about your business folding but I hope you now have some idea of how people aren't getting rich on minimum wage no matter what the kleptocrats and their mouthpieces tell you on TV.

Tue, 07/12/2011 - 12:46 | 1448078 JailBank
JailBank's picture

I am one of those govt workers. Went from private to govt and after less than one year I can't take it.

Tue, 07/12/2011 - 12:56 | 1448119 pizzgums
pizzgums's picture

they can't be fired.

 

the only way they leave is to quit.

 

this  is a surprise ?

Tue, 07/12/2011 - 13:39 | 1448286 j0nx
j0nx's picture

Nobody sane quits a government job. WTF kind of bullshit stat is this? Retiring aint quitting...

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