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Structural Unemployment: The Average Unemployed American Looks For A Job For 20 Weeks Before Giving Up

Tyler Durden's picture




 

According to a just released report by the BLS, the average unemployed American looked for a job for about 5 months, or 20 weeks, before giving up in 2010. This is a two and a half times extension in the period of disenchantment over the past 3 years, when it took just 8.5 week for the unemployed to give up as recently as 2007. Gradually the feeling of entitlement in America's labor pool seems to be deflating. Alas, it also means that the labor force participation, which continues to be at a 25 year low, will likely not return to recent highs as more and more people are now unemployed for longer, and thus lose marketable employment skills, meaning that the current jump in unemployment is, as many have feared, entirely structural and there is nothing cyclical about it. Additionally, the lucky unemployed succeeded in finding a job in about 10 weeks in 2010, a doubling from 2007's median 5 week period of successful job searching. The issue however is that in May 6.2 million had been out of work for more than six months and more than 4 million haven’t work in more than a year. These are people who are now effectively pushed out of the labor force. Bottom line: perhaps the Fed should just give up on its maximum employment mandate which it now appears to be a complete failure, and just focus on generating hyperinflation which alas will soon be the only way out of the complete disaster America will find itself in in under a year when total US debt is about 120% of GDP.

Key part from the BLS:

By the end of 2010, the median number of weeks jobseekers had been unemployed in the month prior to finding work was a little more than 10 weeks. In contrast, prior to the start of the recent recession in 2007, the
median was 5 weeks. Unemployment duration also increased among those who
eventually quit looking and left the labor force. Unemployed
individuals were jobless for about 20 weeks in 2010 before giving up
their job search and leaving the labor force. Whereas in 2007, those who
were not successful in their job search had been unemployed for about
8.5 weeks before leaving the labor force.

The recent recession has had a profound effect on the length of successful job search. The table
shows the distribution of transitions from unemployment to employment
by duration of unemployment (in weeks). From 1994 through 2008, roughly
half of all unemployed jobseekers found jobs within 5 weeks. In 2007,
for example, 49 percent of those who were unemployed in the prior month
and employed in the subsequent month had been jobless for less than 5
weeks. During the same year, less than 3 percent of the unemployed who
found work had been jobless for more than 52 weeks. In stark contrast,
11 percent of transitions from unemployment to employment exceeded a
year in 2010, and only 34 percent lasted less than 5 weeks.

And the two charts which confirm the seriousness of the situation, posted previously on Zero Hedge:

and

 

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Wed, 06/08/2011 - 13:54 | 1351624 djsmps
djsmps's picture

I find it hard to swallow this whole argument of unemployed people giving up or leaving the workforce. Where do they go? How do they survive and eat? I didn't have work for two years and I never stopped looking.

Wed, 06/08/2011 - 13:59 | 1351629 MarketTruth
MarketTruth's picture

They eat via JP Morgan distributed food stamps (SNAP).

Besides, why work when the average American thinks, "Obama Is Going To Pay For My Gas And Mortgage!!!"

http://www.youtube.com/watch?v=P36x8rTb3jI

Wed, 06/08/2011 - 14:05 | 1351652 dark pools of soros
dark pools of soros's picture

yes and more time to create that reality tv pilot

Wed, 06/08/2011 - 14:08 | 1351664 camaro68ss
camaro68ss's picture

o its just a little bump in the road to recovery BITCHEZ!

 

sarc/

Wed, 06/08/2011 - 14:19 | 1351707 PY-129-20
PY-129-20's picture

They do a Norm Petersen.

Wed, 06/08/2011 - 15:10 | 1351947 Vendetta
Vendetta's picture

yeah, it is so lucrative for the unemployed because the 'benefits' are so fantastic compared to actually working /sarc off

Wed, 06/08/2011 - 23:01 | 1353489 HungrySeagull
HungrySeagull's picture

They can be damn good money versus Minimum wage. I think it was 260 a week versus 144 after taxes and 40 hours a week some years ago.

I had a Employer who we worked from April 20 to Sept 20 and then sit through the cold winters at home on unemployment ready to go in the spring. Best damn employer ever, even though the Blacktop paving in a dump truck was a bitch.

 

When you make enough to pay off your debts and live on very little (Our total utilities is cheaper than average rent here in my state by at least half to 2/3) you can get away with a part time work that no unemployed full timer in debt with mortgage will take.

Wed, 06/08/2011 - 14:09 | 1351668 TheTmfreak
TheTmfreak's picture

Likely this is done on some sort of polling which depending on the factors involved is whether or not you get lumped into the "no longer looking" category. I would question the variables used to determine that.

 

Also people probably just move in and live with family members. Who knows how many of these listed were youth out of college just moving in with family.

Wed, 06/08/2011 - 14:13 | 1351699 Hugh G Rection
Hugh G Rection's picture

Use your unemployment bene's/savings and move to Vegas.  Read every Brunson and Skalansky book on hold em, then grind out a living at the 20-40 limit tables.  I have more confidence in the fairness of the Las Vegas casino, than the casino of Wall St.

Wed, 06/08/2011 - 15:32 | 1352062 PhattyBuoy
PhattyBuoy's picture

U.S. Deals Blow to Online-Poker Players
"poker is a hard way to make an easy living" ...
http://online.wsj.com/article/SB124459561862800591.html

Federal authorities in New York have frozen or seized bank accounts worth $34 million belonging to 27,000 online poker players, according to representatives for the players and account holders.

The accounts are managed by Allied Systems Inc., and Account Services, which handle cash for popular online poker sites, including Full Tilt Poker, Poker Stars, Ultimate Bet and Absolute Poker.

Wed, 06/08/2011 - 23:02 | 1353492 HungrySeagull
HungrySeagull's picture

Fuck it. If they do run it again next time legally in the USA. I will sit right here on my fat ass playing nickel poker and accumulate a small living. Beats unemployment and temp work.

Wed, 06/08/2011 - 14:25 | 1351748 SheepDog-One
SheepDog-One's picture

Moving back in with mom and pops, just like the new college grads who have absolutely no jobs to go to. 

Wed, 06/08/2011 - 14:35 | 1351782 Kyron95131
Kyron95131's picture

that's been a trend for last 5+ years previous to the "collapse"

you'd be amazed at the amount of 30 some thing's that have yet to leave their house not because of lack of moxy, more so opportunity.

Wed, 06/08/2011 - 15:55 | 1352137 Clueless Economist
Clueless Economist's picture

The 2 adult slugs living acroos the street from me with Daddy are pushing 40

Wed, 06/08/2011 - 16:05 | 1352193 Kyron95131
Kyron95131's picture

welcome to the new status quo!

"family farm" esc mentality without the farm or the hand to mouth know-how.. or the farm!

oh what an equation for disaster...

Thu, 06/09/2011 - 01:01 | 1353723 TruthInSunshine
TruthInSunshine's picture

I drove through a...ahem...suspect area of town recently on some bidness.

Anyways, I never saw so many clearly related people come out of the same small home in such a short period of time in my life.

It was like that scene from Saving Private Ryan, where the Germans pile out of that wounded half-track.

Wed, 06/08/2011 - 23:04 | 1353494 HungrySeagull
HungrySeagull's picture

Wait until the old World War two 4 story multi generational houses with basements come back into Style. I think we were 5 generations there at one point in ours. And it was normal. Once you married, you got the fuck out or thrown out.

Wed, 06/08/2011 - 15:55 | 1352152 shazbotz
shazbotz's picture

with over 44 million American's on food stamps and homeless camps all over every major city and town its not hard to see where the people are. Go on Youtube and search "homeless camp" and sort by upload date.

 

 

 

Wed, 06/08/2011 - 14:01 | 1351625 Sizzurp
Sizzurp's picture

Maybe we could afford to hire employees that actually produced something if we weren't so busy paying for gov. employees shuffling papers around doing nothing.

Wed, 06/08/2011 - 14:03 | 1351658 dark pools of soros
dark pools of soros's picture

produce what??  that's the problem..  the scam is that we need any of this stuff let alone MORE of it..

 

 

Wed, 06/08/2011 - 14:26 | 1351751 ursus.peracto
ursus.peracto's picture

One thing comes to mind.

 

 

Bombs.

Wed, 06/08/2011 - 23:04 | 1353497 HungrySeagull
HungrySeagull's picture

One place in Oklahoma makes em. Between that and Bingo you should make out well.

 

Wed, 06/08/2011 - 14:32 | 1351759 Sizzurp
Sizzurp's picture

There are always things that need to be produced, things that are needed, things that are essential.  What we don't need is a burdensome and enormously expensive bloated gov. that produces nothing but debt.

Wed, 06/08/2011 - 14:43 | 1351816 Spastica Rex
Spastica Rex's picture

What we need is:

 

  • more ipads
  • better pickup trucks
  • shinier granite countertops
  • more luxurious ocean cruises
  • prettier handbags
  • faster sports cars
  • bigger sports stadiums
  • more channels on cable TV
  • more 3D movies
  • tastier wine
  • more low-volume botique whiskey
  • more drugs
  • better insurance

 

I know I've missed a bunch of stuff, but isn't this what we desire and produce? Isn't this what our economy does?

 

 

Wed, 06/08/2011 - 14:47 | 1351852 TruthInSunshine
TruthInSunshine's picture

Money for nothing and chicks for free.

Like the TBTF get.

Wed, 06/08/2011 - 15:56 | 1352138 Temporalist
Temporalist's picture

How could you leave out shoes and $6 coffee?

Wed, 06/08/2011 - 23:06 | 1353499 HungrySeagull
HungrySeagull's picture

You sicken me with that list of unnecessary things. We are still running off a late 70's countertop and carpets from the same time when the house was built.

 

Make that 9.40 Folgers Coffee. We just bought 12 of them to hedge against inflation the following year.

Wed, 06/08/2011 - 14:36 | 1351788 Spastica Rex
Spastica Rex's picture

THIS

Wed, 06/08/2011 - 14:38 | 1351812 GubbermintWorker
GubbermintWorker's picture

Hey!

 

I resemble that remark!

Wed, 06/08/2011 - 15:15 | 1351958 Vendetta
Vendetta's picture

who needs employees to produce something when we have slave wage labor in china/india to do it?  /snark

Wed, 06/08/2011 - 13:55 | 1351630 Hugh G Rection
Hugh G Rection's picture

I gave up after 2 weeks... ahead of the curve baby!

Wed, 06/08/2011 - 13:59 | 1351633 JailBank
JailBank's picture

Not so bad if you consider the 99 weeks of unemployment.

Wed, 06/08/2011 - 14:02 | 1351637 buzzsaw99
buzzsaw99's picture

My last decent job was in 2005. I could have gotten any number of jobs since then but I am not interested in working with a-holz no mo.

Wed, 06/08/2011 - 14:25 | 1351717 topcallingtroll
topcallingtroll's picture

I like you buzz,

but you wouldn't like working for me!

This tends to confirm in my mind that unemployment is a choice for most unemployed.

Wed, 06/08/2011 - 14:29 | 1351731 buzzsaw99
buzzsaw99's picture

I like you too but you probably couldn't afford me anyway.

Wed, 06/08/2011 - 14:25 | 1351749 topcallingtroll
topcallingtroll's picture

If you generate a positive return I can afford whatever it takes!

Wed, 06/08/2011 - 14:26 | 1351750 topcallingtroll
topcallingtroll's picture

Kiss, then?

Wed, 06/08/2011 - 14:34 | 1351796 buzzsaw99
buzzsaw99's picture

sure, no tongue, lulz

Wed, 06/08/2011 - 14:30 | 1351758 buzzsaw99
buzzsaw99's picture

When I shake the money tree these days I collect everything that falls for myself alone.

Wed, 06/08/2011 - 14:55 | 1351863 TruthInSunshine
TruthInSunshine's picture

If you generate a positive return I can afford whatever it takes!

 

That has nothing to do with it. You don't want him anywhere near your wife/girlfriend/daughters (assuming they are of age or he can plausibly deny he didn't know they weren't).

Wed, 06/08/2011 - 15:14 | 1351950 buzzsaw99
buzzsaw99's picture

that's eerie. do you know me? lol

Wed, 06/08/2011 - 16:10 | 1352223 TruthInSunshine
TruthInSunshine's picture

I know your kind.

Lock up the whiskey and women.

Wed, 06/08/2011 - 14:26 | 1351754 SheepDog-One
SheepDog-One's picture

Sure topcall, plenty of jobs next time McDonalds is hiring. Get in line.

Wed, 06/08/2011 - 23:20 | 1353511 HungrySeagull
HungrySeagull's picture

There is no damn way I will do that. Years ago I ran the burger stove. I got abused from the assembly boys and harrassed by the manager and chased by the dishwasher as well as cashiers bitching at me because customers dont like the burgers.

I started cooking them all 40 seconds PAST the automatic timer and no one bitched anymore except that the faggot assembly boys rubbing butts bitch at me for making too damn many burgers.

Hell, I QUIT going TO mcdonalds TO buy food. The dimwit cashiers are not interested in you or your order. They are over tired, sleep fatiqued and otherwise very stupid as to require a VERY simple set of words or numbers. ANY special orders make them angry.

 

CHRIST.... how does a McDonalds ever survive on such shit system?

 

Hell I even hauled BEEF TO a Mc Donalds Frozen pre-made patty factory and GOT abused from the workers for being a half hour early. That was in Oklahoma.

Maybe I get a damn job delivering TO a mcdonalds and just kick the shit onto the trashy, gooey and vomit puddled parking lot around the cars for them to shove into the store.

 

And dont get me started when I watch the sweet Pollyanna at 16 work the counter being hit on by people of all ages including the grump grampa in the morning all day every day. They turn into 40 year old hellcats very quickly with a attitude to match before 17th birthday.

 

And you wonder why proper selection of women is a challenge.

 

Wanna know how I quit?

 

I waited until the ENTIRE STAFF was in a VERY big chinese firedrill FRENZY on a VERY busy FRIDAY night. Everyone was scrambling to feed dozens of people inside, tens outside and orders stacking up everywhere.

One little bitchy statement from a assembler who has not dropped a pair yet... I took the stove off the wall. Tossed the cooking burgers into the trash, hefted a 30 pound box of fresh frozen patties all frozed together into one giant pie and threw it onto the assembler telling that little wuss...

 

YOU do it if you know what your mouth is good for you fucking twat. And stormed out.

As it stood, the manager was not availible and no one else knew how to run the stove. Two customers had to stop eating and step in to cook.

Love it.

 

Oh at the front door I was stopped by a large customer. And he said dont you dare quit and get back in there.

I told him that little slim jim over there holding the box of beef is now the new burger cooker.

My other hand was on the .45

 

 

It's been decades. And I suppose that tiny little slim jim shit assembler is now middle management pulling down a 6 figure salary at burger university or something.

Wed, 06/08/2011 - 15:49 | 1352112 Rynak
Rynak's picture

Main reason why i'm a freelancer. Under no circumstances do i want to work as employee in the current economy. Wages are shit, treatment is shit, contract conditions are shit. The race to the bottom has resulted in an employment market, that is only attractive to employers (and at least for small and midsized business, the consequences are even unattractive to them).

Wed, 06/08/2011 - 14:02 | 1351639 serotonindumptruck
serotonindumptruck's picture

Typical job posting announcement.

Unemployed need not apply.

Wed, 06/08/2011 - 14:19 | 1351713 topcallingtroll
topcallingtroll's picture

Do you think it is unethical for someone to maximize their unemployment benefits?

Does that perhaps show a negative attitude toward work?  A tendency to milk the system for personal advantage?

Wed, 06/08/2011 - 14:29 | 1351767 Kyron95131
Kyron95131's picture

well at least your name pretty much gives people a prelude to the consistency replies.

Wed, 06/08/2011 - 14:41 | 1351811 topcallingtroll
topcallingtroll's picture

Look I would do the same thing if I had a shitty job and no prospects for anything but another shitty job.  I would maximize my unemployment benefits and take a sabbatical.  I am no better than anyone else.

However as a once and future employer I want people who have a different attitude than that.  I would never hire someone like me.

Wed, 06/08/2011 - 14:39 | 1351820 Kyron95131
Kyron95131's picture

well at least your an honest hypocrite.

get rid of the honesty aspect of your persona and your CEO material.

Wed, 06/08/2011 - 18:16 | 1352701 Rainman
Rainman's picture

...exactly...there are thousands of good paying jobs out there. Not at all legal, but they are there.

Wed, 06/08/2011 - 18:07 | 1352669 blunderdog
blunderdog's picture

I think there's a potentially valid concern about maximizing unemployment benefit payouts, but the biggest problem is that the people on the downward slide through progressively crappier jobs don't have a better option than to milk the payouts.  And generally speaking *most* people who become unemployed are on that downward slide.  Wages have been stagnant for 30 years.  There's not much for most of the workforce to look forward to.

If there were a weighting of benefits cut-off that made it more logical for a person to start working immediately, this would be far less of an issue.  Example: person loses well-paying job in dead-end industry of worthless eaters...let's say marketing director, $60K.  Their unemployment benefit is maxed at $400/week, and the best job currently available for them to start within the next month is an $11/hr paperwork job of some kind.

OBVIOUSLY this person is not going to want to immediately start the crappy-ass job and end up taking home less money than he/she would just cashing the benefit checks.  This isn't "immoral."  This is just common sense--why would someone want to reduce income more than necessary?  That's not a rational economic decision.

If there were a sliding-scale of benefit payout that would pay a difference between earned wages and previous income, folks would be a lot more motivated to start doing crappy work as soon as possible.  This would *generally* be good, but for the one caveat that employers would then have to filter between people with no long-term prospects who would likely remain at the crappy job and people who would just do it for a few weeks/months then bail.

But hey, things are tough all over.  Anyway, it's silly to make it all about the (out-of) workers.  High unemployment is great for business, and business interests dominate our society.

Wed, 06/08/2011 - 23:22 | 1353537 HungrySeagull
HungrySeagull's picture

I have hired some of the worst.

And stood over them to make sure it's done right.

They have had no problems.

 

The most issue comes from the manicured suits who have never labored once in life once they ran away from home for being forced to take out trash once too many time.

Wed, 06/08/2011 - 14:41 | 1351829 serotonindumptruck
serotonindumptruck's picture

You're getting into the psychology behind morality and ethics. One might not be able to provide a succinct, definitive answer without making sweeping generalizations wrt human nature.

I'm still trying to digest and understand the philosophy of David Hume and Emmanuel Kant in this area.

Wed, 06/08/2011 - 18:08 | 1352678 blunderdog
blunderdog's picture

Kant?  Hah. 

Do you think unemployment is more "beautiful" or more "sublime"?

Wed, 06/08/2011 - 21:54 | 1353332 serotonindumptruck
serotonindumptruck's picture

Translating from the German can be confusing.

I was referring to his treatises on ethics. Such as, 'Is it ethical for a starving man to commit theft in an effort to avoid death?'

Wed, 06/08/2011 - 22:42 | 1353449 blunderdog
blunderdog's picture

I like Kant, but I'm afraid he got steamrolled by the Romantics.

The categorical imperative is either too general (as envisioned by Kant) or too specific (as envisioned by your average armed robber).

I'm inclined to think that the only thing that keeps any of us from psychopathy is the consideration of the fact that other human beings have already faced with similar dilemmas.  We can learn from them--we needn't reinvent the wheel every time.  It's a social world.

Thu, 06/09/2011 - 01:03 | 1353728 TruthInSunshine
TruthInSunshine's picture

Romantics? LOL.

They're a good music group, but I think you meant the rationalists, and as a point of fact, Kant was responsible for bridging the gap between the rationalists and empiricists, which was quite the leap forward at the time (or any time).

Thu, 06/09/2011 - 11:16 | 1354481 blunderdog
blunderdog's picture

Nietzsche was no rationalist, dude.  I'm underwhelmed by the empiricists in general--they were pretty caught up with this notion that people are fundamentally rational, and I don't think the evidence for that assertion is compelling.

Wed, 06/08/2011 - 13:59 | 1351643 Cone of Uncertainty
Cone of Uncertainty's picture

I have a job, but in anticipation of getting laid off I'm already giving up looking for work.

Wed, 06/08/2011 - 14:06 | 1351655 Internet Tough Guy
Internet Tough Guy's picture

Everyone with a job should be looking. You just never know.

Wed, 06/08/2011 - 14:18 | 1351705 Cone of Uncertainty
Cone of Uncertainty's picture

Your damn fucking skippy.

I just wish this collapse would get itself over with, I need a fucking multi year vacation.

Wed, 06/08/2011 - 14:00 | 1351644 dark pools of soros
dark pools of soros's picture

do it!!!  so I pay off my mortgage with 1oz of Gold.    then scramble to garden more since no one can afford to eat

Wed, 06/08/2011 - 14:01 | 1351651 faustian bargain
faustian bargain's picture

I'm curious about how they determine who 'gives up'? I mean, if I had 99 weeks of unemployment benefits, I wouldn't just give up, I would do the minimum required to maintain those benefits (I think all you have to do is show contact info for one job application every couple of weeks).

Is that what they mean by 'give up' - that these people also stop collecting unemployment benefits?

Wed, 06/08/2011 - 14:13 | 1351686 serotonindumptruck
serotonindumptruck's picture

With a much larger, highly qualified labor pool with which to choose from, and with an overall decreasing number of jobs available, employers can afford to vet the best possible candidate for the position. Unfortunately, there seems to be a developing trend to stigmatize the unemployed, and the perception of discrimination causes people to become discouraged earlier in their job search.

Wed, 06/08/2011 - 14:20 | 1351711 topcallingtroll
topcallingtroll's picture

There is some truth to what you say, but I have seen too many people who wait until their benefits are about to run about before getting serious about getting a job.

I can understand not wanting to hire people with such ethics.  I understand that such unethical behavior does not characterize all of the 99ersm, but if Mexicans who can't even speak English manage to find work I feel confident that 99ers could wash dishes in restaurants or find something.

Wed, 06/08/2011 - 14:23 | 1351737 serotonindumptruck
serotonindumptruck's picture

Agreed.

Perhaps it's the "entitlement mentality". There's always some work available. It becomes an issue of people's willingness to lower their standards and expectations a bit.

Wed, 06/08/2011 - 14:34 | 1351794 Kyron95131
Kyron95131's picture

lol your both rediculous short sighted trolls

Wed, 06/08/2011 - 14:39 | 1351823 topcallingtroll
topcallingtroll's picture

How do you think an employer evaluates potential employees?

We look at character also.  If I think someone is always looking for an easy way out, or someone who works just barely hard enough to avoid getting fired, then I don't want that person working for me.  It's an attitude issue.

Wed, 06/08/2011 - 14:47 | 1351841 Kyron95131
Kyron95131's picture

i am an employer

i look for potential in the individual to fulfil their role as an employee, attitude, and ability to play nice with others.

not some synthetically imposed hunger driven motivation like some Pavlovian pet.

i guess you think the chinese business model isa pinacle of capitalism too?

lol...

Wed, 06/08/2011 - 23:32 | 1353543 HungrySeagull
HungrySeagull's picture

not some synthetically imposed hunger driven motivation like some Pavlovian pet.

 

Or the pussy whipped, drugged addled smoke head unable to make a decision for him or herself. They tremble in fear because gosh, it's TOO hard to make change for the customer buying gas from behind two walls of armor capable of stopping 9's and .40's

Especially with the uncertain future and threatened with a double or triple shift totally destroying any plans they have laid before showing up for work. Because the rest of the staff is in the same condition or too blotto to even get to work. Or care.

Ever run a liquor shop? Wait until payday and all the niggars will drop the ENTIRE PAYCHECK on a few bottles and the REST on the LOTTO TICKETS. They then bet the farm that when they hit the mega easy ride millions no one will ever have to worry again and make plans to buy YOUR store out to boot.

 

For those of you offended by the N word, I used it very rarely if at all. The word is for those predatory youth who run about like Hyenas instead of being properly educated and a pillar of the community as Mammy taught them to do all these years.

Wed, 06/08/2011 - 14:51 | 1351853 pazmaker
pazmaker's picture

thats a dumb comment.  I hire people on a weekly basis..I also know managers that don't use e-verify system and prefer to hire illegals with fake documents because they exploit the advantage.

1. illegal with fake papers can't file for unemployment, therefore if you let them go your UI insurance premium which is based on this factor will not go up with the state.

 

2. Illegal's are not as well aware of their rights and by nature are quiet and won't complain about working conditions etc .

3. Illegals will work for less money(you still have to pay them minimum wage if they are using fake papers)

4. Illegal's who get hurt on the job many times won't file a workers comp claim.

Try getting a job(at least in my neck of the woods ) as a dishwasher or sandwich prep at a local restaurant...if your not hispanic and you can speak english  they don't want you.

 

Wed, 06/08/2011 - 14:53 | 1351857 Kyron95131
Kyron95131's picture

you pretty much list all the reasons Zacky farms is the top solicitor of illegal employment in this country.

go to see someone else reads, lol..

Wed, 06/08/2011 - 14:52 | 1351867 pazmaker
pazmaker's picture

Thanks Kyron,  although I didn't read that anywhere I know that first hand from personal experience.

Thu, 06/09/2011 - 00:01 | 1353624 knowless
knowless's picture

people hire illegal immigrants because they don't have to report them as employees or pay tax on them.. as an illegal immigrant you can make more than a legal resident would because the work is under the table (no tax cash..).. if you have to keep some semblance of legality in your financial being then you are not competitive against an illegal immigrant..

 

gauging whether a mexican who can't speak english can find work is humorously destructive to society. I wish that I could have the jobs "mexicans" do, as i have in the past, and will again, I would gladly take a paycheck. the problem is that my legal status is a hassle in comparison. tax free wages must be nice, especially when you can still claim benefits (albeit "illegally").

 

edit: pazmaker summed it up above me, was irate, didn't finish thread before posting.

Wed, 06/08/2011 - 18:00 | 1352648 Sunshine n Lollipops
Sunshine n Lollipops's picture

I wondered about that, too. I was a 99er and nobody ever asked me about the state of my resolve. It sounds like another bullshit statistic from the propaganda imagineers at BLS.

Does someone call and say, "Hey, Bob, this is Janet at the BLS. How's the job search going?"

And Bob says, "Fucking terrible. There aren't any jobs! I give up. I'm thinking about killing myself."

"You know Bob, you'll never Win the Future with that attitude."

"Eat shit, Janet (click)."

"Alrighty then," Janet says,  "one more for the 'gave up' column." 

 

Wed, 06/08/2011 - 14:05 | 1351654 carbonmutant
carbonmutant's picture

Beige Book says consumers bought more iPads this month
Japan Quake is responsible for GM's decline.
Real estate shows widespread weakness

Wed, 06/08/2011 - 14:12 | 1351667 TruthInSunshine
TruthInSunshine's picture

Structural Unemployment/Underemployment = The Bernank's main enemy in getting necessary, massive debt/credit reissuances out for the 'greater good,' and the reason the economy is DOA.

Jobs. Everything else - literally - depends on them.

Robust job creation (and real wage increases, not decreases) are needed for increased consumption.

Increased consumption is needed to foster demand for new debt.

Demand for new debt is needed in order to grow what is an entire economic structure that inherently depends on increasing levels of debt/credit issuance for growth.

Liquidity, money supply, monetary base, inflation, yield curve, blah blah blah blah; all irrelevant without real jobs that are created based on real demand and real power of sustainable consumption (and this is the real virtuous circle, not the one Bernanke fraudulently sets forth).

Jobs.

You can't grow a fractional reserve banking economy unless you can print willing debt/credit slaves, able and eager to assume more and higher levels of debt, at a faster clip.

Ultimately, that is function of the ability to create jobs, as even the Rothschildian Lizards won't loan to a sovereign that can't squeeze any more pounds of flesh from its subjects...err...citizens.

And, to borrow a phrase, 'it ain't gonna' happen.'

Wed, 06/08/2011 - 15:42 | 1352099 PhattyBuoy
PhattyBuoy's picture

+ where is the next serial bubble?

 

Wed, 06/08/2011 - 16:17 | 1352231 TruthInSunshine
TruthInSunshine's picture

Whisper rumor on the street - hard as it is to believe - the Federal Reserve and Congress want to go back to the old standby and inflate tulip bulbs again.

I say it's way too predictable. They say people love tulips and short memories and terrible public education have made it a slam dunk.

We'll see.

Wed, 06/08/2011 - 14:11 | 1351675 Shameful
Shameful's picture

Should be selling it as part of the new economy.  We moved from manufacturing economy to a service economy and now to a no work economy.  That's progress!  With a little luck the only people who will be employed are those that provide vital services like government officials, talking heads, and killers...err the oligarchs gun toting enforcers...err military and police.

Wed, 06/08/2011 - 14:18 | 1351703 serotonindumptruck
serotonindumptruck's picture

No need to implement forced military conscription in this economy.

They're lining up in droves outside the military recruitment centers.

Wed, 06/08/2011 - 14:25 | 1351726 Shameful
Shameful's picture

Yep and will do what they are indoctrinated to do.  Whether it be kill foreigners on command or take out "domestic terrorists" if the need arise.  Good thing the youth in the US are paragons of morality and virtue, totally selfless, with an aversion to violence...

Wed, 06/08/2011 - 23:32 | 1353560 HungrySeagull
HungrySeagull's picture

"Adversion to violence."

 

Yer wrong sir. Americans in the big city every night are easily attracted by the LUST for blood that sings through the blood.

The effective ones are the ones that make it through Boot Camp. Those are the ones you dont want to mess with. Capable of unleasing a world of hurt before stomping your skull open.

 

Those recruits from NO gun states and from other Nanny states are particularly dangerous when handed tools of war that actually go bang and make a hole.

Wed, 06/08/2011 - 14:27 | 1351736 Dr. Richard Head
Dr. Richard Head's picture

With many requesting to be dropped right into a war zone - we have many.  Battle pay means extra pay baby. 

Wed, 06/08/2011 - 14:08 | 1351677 buzzsaw99
buzzsaw99's picture

Evelle: H.I., you're young and you got your health, what do you want with a job?

Wed, 06/08/2011 - 14:16 | 1351708 rsnoble
rsnoble's picture

Yep, perfect timing for the republicans to kill off unemployment benefits because people refuse to get a job.  Anyone with that believe needs to burst into fucking flames.  Sure some are taking advantage, but let's just forget the 4:1 ratio shall we and pretend nothings wrong.  Fucking idiots.

Then again, perhaps we should just end it along with everything else like medicare so we can officially get the good times rolling instead of prolonging the inevitable.

I don't care what anyone here says, we're fucked.

 

Wed, 06/08/2011 - 14:23 | 1351720 buzzsaw99
buzzsaw99's picture

who is this "we" kimosabe?

Wed, 06/08/2011 - 14:35 | 1351797 rsnoble
rsnoble's picture

If this country wen't to total hell, your gold and silver aren't going to save you from the 99% of the others that don't.  And neither will your shotgun when the ghetto decides to come to your house.  If I had the resources id def. move the fuck out of here.  Of course im not sure what other shithole would be better at the moment. 

Wed, 06/08/2011 - 14:26 | 1351747 TruthInSunshine
TruthInSunshine's picture
by rsnoble
on Wed, 06/08/2011 - 14:16
#1351708

Yep, perfect timing for the republicans to kill off unemployment benefits because people refuse to get a job.  Anyone with that believe needs to burst into fucking flames.  Sure some are taking advantage, but let's just forget the 4:1 ratio shall we and pretend nothings wrong.  Fucking idiots.

Then again, perhaps we should just end it along with everything else like medicare so we can officially get the good times rolling instead of prolonging the inevitable.

 

 

False left-right paradigm is KILLING the nation.

Both 'parties' work for the same boss.

Deep capture knows absolutely no difference between elephants and donkeys.

I do not mean to offend nor patronize, but the sooner you come to accept this tragic fact, which essentially means there is no real choice nor democracy in Amerika, the sooner your resolve to break out from the Matrix and become independent and free can occur.

 

 

 

Wed, 06/08/2011 - 14:35 | 1351786 rsnoble
rsnoble's picture

Oh I agree, I am  not a dem.  I hate the majority of them.  They're in there for one reason only.......fill their own money bags as many times as possible before getting thrown out.

Wed, 06/08/2011 - 15:22 | 1352016 Vendetta
Vendetta's picture

how come I recognize the parties serve the same masters and don't feel 'independent and free'? ... I want my money back ...

Wed, 06/08/2011 - 16:27 | 1352285 TruthInSunshine
TruthInSunshine's picture

Read the fine print at the bottom:

*Absolutely no refunds of any kind, whatsoever, no matter what the prior disclaimer said or what we did or told you.

Wed, 06/08/2011 - 14:19 | 1351714 rsnoble
rsnoble's picture

And what I mean by "we're fucked" is let's say we come up with some grand new solution.  And just how long would that take to implement??  The problem is what's going to happen in the years we're waiting on it to take place?  Not to mention all the finger pointing and fighting that will take place at the gov't level before we even get to that point?  People can't go 5 years without food.  Politicians might seem all cool hand luke in front of the tv but i bet there's some major sweating going on behind the scenes right now.  As well there should be, sob's need to just pack their shit and get out of our way.

Wed, 06/08/2011 - 14:36 | 1351785 buzzsaw99
buzzsaw99's picture

People waste so much damn money in this country it isn't even funny. Are you down at the library using a public computer? Do you have cell phone service, cable television, etc., etc., while whining about being broke? The things people think are entitlements these days are sicking. Standing in line to get free food while playing on the iphone. Give me a break!!

Wed, 06/08/2011 - 14:43 | 1351821 rsnoble
rsnoble's picture

Well fine then, everyone unemployed go to work tommorow.  You list the availabilty and let me know when you can come up with those millions of jobs.  You also seem to forget that if there weren't entitlements---these people just won't disappear and you continue on as normal.  Let's see.........you walk thru town pass dozens of starving people that know you have $.  Guess what happens.

Wed, 06/08/2011 - 14:52 | 1351856 buzzsaw99
buzzsaw99's picture

Do you mind if I ask how old you are? I'm guessing that you are younger than I (49). When I was younger I took jobs that sucked, jobs that would break your back and make you puke. Most young people want to play video games and smoke pot all day. Grifter nation. I could find a job if I wanted one, and take my pick of what kind of stuff I would do. Even crappy jobs pay $10/hr these days. My first job paid $1.50 an hour. Most years when it snows here no kids come and ask to shovel the drive. Lazy good for nothings mostly. I have had an endless stream of people come to my door wanting something for nothing but none of them want to work. No sympathy here.

Wed, 06/08/2011 - 15:03 | 1351907 rsnoble
rsnoble's picture

LOL, you're right about the younger generation.  I've worked the majority of my life ill say that much.  My house is nearly paid off as is most other debt.  I'm just pissed because I was supposed to be saving up a bunch of $ right now after I paid everything off, instead im applying for work at the mess hall tommorow.  I do a lot of work on the side, things are fine.  I wasn't planning on having to work when im freaking 70.  At this rate it will be work till you can't, then die.

Wed, 06/08/2011 - 15:39 | 1352084 Bam_Man
Bam_Man's picture

Same as it always was.

Wed, 06/08/2011 - 14:59 | 1351902 serotonindumptruck
serotonindumptruck's picture

"...you walk thru town pass dozens of starving people that know you have $.  Guess what happens."

We find out how many of them can breathe through their foreheads.

Only one way to kill zombies. Gotta destroy the brain.

Wed, 06/08/2011 - 15:31 | 1352049 Vendetta
Vendetta's picture

I used to do the work that illegals do now and they were some of the best jobs a young person could get without an education ... I actually made some pretty damn good money painting houses, cutting lawns and doing construction (homes) ... now young people have to compete with illegals who are supporting their families (and extended families) for those jobs ... not quite the same today as when I was growing up

Wed, 06/08/2011 - 15:55 | 1352110 Rodent Freikorps
Rodent Freikorps's picture

I hear if you are white and try to get a construction job these days, you tend to get stack of roofing tiles accidentally dropped on your head, or maybe someone accidentally energizes the circuit you are working on.

Hell, they might give you the job for that very reason. These are the same scum bags that enjoy dog fighting...and cockfights, etc...

Wed, 06/08/2011 - 16:34 | 1352316 karzai_luver
karzai_luver's picture

I know firsthand over a hundred white guys working construction.

You are a fool and an MSM slave no doubt.

 

Wed, 06/08/2011 - 20:50 | 1353156 Rodent Freikorps
Rodent Freikorps's picture

A whole 100? You must work in the unemployment office, you lying bitch.

Wed, 06/08/2011 - 14:24 | 1351741 misnomer
misnomer's picture

They prefer you give up looking for a job.  After your employment benny's run out, you are no longer on their books, therefore the unemployment numbers don't count the starving waifs, thereby making it look like unemployment numbers are going down.   

 

Wed, 06/08/2011 - 14:53 | 1351858 TruthInSunshine
TruthInSunshine's picture

+1

I'm really not a tin-foiler, just a realist, and I actually believe they at the very least don't mind when UE runs out so they aren't bothered by having to count and display those 'untouchables' in the data anymore.

 

Wed, 06/08/2011 - 14:24 | 1351742 MacGruber
MacGruber's picture

"perhaps the Fed should just give up on its maximum employment mandate which it now appears to be a complete failure, and just focus on generating hyperinflation.." Got a good laugh on that one. Sometimes a statement of truth can be so powerful.

Now CNBC is forecasting the weather and talking about wildfires. Must be trying to goose viewership by covering something, anything that people actually care about - since the co-located "traders" don't watch TV.

Wed, 06/08/2011 - 14:31 | 1351760 topcallingtroll
topcallingtroll's picture

I never realized how much they cheerlead on cnbc.

In the past there was perhaps more legitimacy to some of the cheerleading. 

The logic seems more strained now.

Wed, 06/08/2011 - 14:30 | 1351776 SheepDog-One
SheepDog-One's picture

Yep, and the CNBC commercial lineup tells the story too-

Get MAJICKJACK!

Im in my bathrobe, but Im working online for my PHD

Caring grandparents (401K Bathrobe Brigades) buy Gerber life insurance for their grandkids

Someone invented a gizmo and made a profit! But these results are not typical.

Wed, 06/08/2011 - 15:06 | 1351814 TruthInSunshine
TruthInSunshine's picture

Someone needs to eliminate this song and person because they are a threat to the mental stability of anyone subjected to the commercial:

Education Connection Commercial

 


Wed, 06/08/2011 - 15:33 | 1352052 Vendetta
Vendetta's picture

they already gave up (9 years ago and counting), they are just looking after their buddies in the financial sector.

Wed, 06/08/2011 - 14:30 | 1351779 Bam_Man
Bam_Man's picture

Remember all those predictions made back in the 1950's about technology/science/automation leading to a vast increase in "leisure time" for the working class?

They came true, bitchezzzz.

Wed, 06/08/2011 - 14:35 | 1351783 SheepDog-One
SheepDog-One's picture

PLENTY of leisure time for all americans! Yipee! :D

Wed, 06/08/2011 - 14:40 | 1351807 Bam_Man
Bam_Man's picture

I suppose we could accurately say that the working classes may now enjoy up to 99 consecutive weeks of "leisure time".

After that, the term "leisure" may not be as appropriate.

Wed, 06/08/2011 - 14:46 | 1351838 rsnoble
rsnoble's picture

Act I think there was a study done that concluded 99 weeks is enough time to adjust from  middle class to cardboard box.

Wed, 06/08/2011 - 14:34 | 1351780 fuu
fuu's picture

Acosta is hiring.

Wed, 06/08/2011 - 14:40 | 1351825 mrdenis
mrdenis's picture

SWAT team sent to arrest student load defaulters ....http://news.yahoo.com/s/yblog_thelookout/20110608/us_yblog_thelookout/ed...

Wed, 06/08/2011 - 15:00 | 1351881 gwar5
gwar5's picture

I read that this am linked at Drudge.

Oooh yes, it was too the Dept. of Edumakation --- using a federal warrant. They even requested that a single police unit from the local town of Stockton, CA show up --- but just to sit there like a lump in the squad car as an observer -- so we know exactly who was running the swat team and under what authority.

The swat team already knew the ex-wife was not in the house. Yet, this poor guy, with three young daugthers in the house with him and no criminal record of any kind, was detained for 6 long hours in the back of a car while they ransacked his house going through his stuff. 

Can't wait until the IRS shows off their 17,000 new hires with shotguns. 

 

Wed, 06/08/2011 - 15:18 | 1351982 serotonindumptruck
serotonindumptruck's picture

Federal agents, when they dress up in their jack-booted SWAT costumes, tend to carry SiG Sauer and H&K.

Of course, it's only a matter of time before they experience another Waco or Ruby Ridge incident. They may be feds, but they still bleed a lot when they're shot in the head.

American citizens aren't going to take much more of this tyranny before they revolt.

 

Wed, 06/08/2011 - 14:53 | 1351832 FOREX loop.
FOREX loop.'s picture

:Edit: beat me to it. Here's more on the above story. Federal Department of Education is sending SWAT teams into inoccent peoples homes. The druge has a link, and here is a rather grim look at it from an author i respect:

http://collegemessiah.blogspot.com/2011/06/my-country-she-wants-to-get-r...

Basically a swat team sent by the Dept. of Education enacted a search warrant against an inocent father, cause his old wife/gf used to live at the house where he raises their kids.

Wed, 06/08/2011 - 14:57 | 1351886 jomama
jomama's picture

and he probably has no legal recourse, either.

Wed, 06/08/2011 - 14:45 | 1351842 Vuvuzela
Vuvuzela's picture

GM is creating 50k jobs in russia

have already announced an intention to expand their factory near St. Pete. The initiative will thus create over 50,000 jobs, which is definitely a positive side of the story.

http://english.pravda.ru/business/companies/06-06-2011/118122-car_giants-0/

 

Wed, 06/08/2011 - 14:52 | 1351860 Bam_Man
Bam_Man's picture

Anything to avoid hiring UAW employees.

The Russians only show up for work drunk 3 or 4 times a week (and hung over the other 1 or 2).

This will work out well for GM.

Wed, 06/08/2011 - 14:55 | 1351875 TruthInSunshine
TruthInSunshine's picture

Never buy a Lada that was built on a Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, and especially, a Sunday.

Wed, 06/08/2011 - 15:03 | 1351911 Vuvuzela
Vuvuzela's picture

I want a Trabant

 

Wed, 06/08/2011 - 15:26 | 1352023 TruthInSunshine
TruthInSunshine's picture

The East Germans weren't nearly as drunk on the line.

Good choice.

Wed, 06/08/2011 - 15:36 | 1352063 Vendetta
Vendetta's picture

yeah, but the vodka will make the cars run and it is so green....

Wed, 06/08/2011 - 23:35 | 1353568 HungrySeagull
HungrySeagull's picture

What really surprise me is the fooking russkies manage to fly air force planes half rusted out from bases resembling a junk yard.

Our own airforce will not be able to function if so much as a weed sprouted on the nice manicured bases.

Wed, 06/08/2011 - 14:51 | 1351865 Gimp
Gimp's picture

I know people who have been out of work for over three years. If you are over 60 fuggadaboutit  - you ar f**ked.

Learn to make your own money now...

Wed, 06/08/2011 - 15:20 | 1351993 Seasmoke
Seasmoke's picture

WORK is a 4 letter word

Wed, 06/08/2011 - 15:31 | 1352057 buzzsaw99
buzzsaw99's picture

I enjoy work, but not money grubbing fascist boot licking work. That's for the birds.

Wed, 06/08/2011 - 15:22 | 1352017 Rodent Freikorps
Rodent Freikorps's picture

Just look at labor force participation.

People are working. They've just adopted the illegal immigrant model of working for cash.

Wed, 06/08/2011 - 15:33 | 1352064 buzzsaw99
buzzsaw99's picture

that and barter.

Wed, 06/08/2011 - 16:15 | 1352225 cramers_tears
cramers_tears's picture

But maybe not Bitcoin...  TPTB are on the ATTACK, and the MSM are reporting it!  How dare you have a functional anonymous currency outside of the realm!!!!  Not on their King's Highway, dammit!  http://finance.yahoo.com/news/Senators-seek-crackdown-on-rb-4251307580.h...

I've always wondered why GOV INC ever allowed PGP into the public domain.  GO BITCOIN.  They may really have something when you can acquire your Bitcoins with PMs.

Wed, 06/08/2011 - 15:26 | 1352021 baby_BLYTHE
baby_BLYTHE's picture

CNN: 48% believe a Great Depression is coming within a year

http://politicalticker.blogs.cnn.com/2011/06/08/cnn-poll-obama-approval-...

Wed, 06/08/2011 - 15:26 | 1352040 AldoHux_IV
AldoHux_IV's picture

Possible debt restructuring or 'triggering event' from one of the developed economies could be the trigger for QE which ironically will only kick the can further-- when the pesky elections are out of the way.

Wed, 06/08/2011 - 16:15 | 1352237 cramers_tears
cramers_tears's picture

Off to Hong Kong we go...  No... Seriously.

http://news.efinancialcareers.hk/newsandviews_item/newsItemId-32946

Hell, Prada's even moved there...  And everyone knows what a trendsetter they are.

http://ibnlive.in.com/generalnewsfeed/news/trailblazer-prada-on-the-road...

Wed, 06/08/2011 - 16:37 | 1352329 Sheriff Douchen...
Sheriff Douchenik from AZ's picture

Why work and pay taxes when you are paying these public sector employees wages? Better off to sit on the sidelines and watch the thieves while sipping a nice cool glass of lemonade like I am. Not to mention the postal workers up here on strike that get 7 weeks of vacation.

http://www.torontosun.com/2011/06/07/teachers-targeting-ontario-tories

Wed, 06/08/2011 - 16:43 | 1352348 Conrad Murray
Conrad Murray's picture

But but but, Jan Hatzius said unemployment was cyclical!

Wed, 06/08/2011 - 18:48 | 1352821 Heroic Couplet
Heroic Couplet's picture

All Congressional Republicans need to be out looking for jobs. Show us exactly where the Bush tax cuts have created jobs. The tax cuts have been in place for the past decade. The money has gone into private pockets.

If you're conducting a job search, you need to conduct it from a state or US Republican's office. Take a videographer with you and film the results. Ask the Republicans to call Faux news; invite Faux to film your job search. Most likely Faux will decline. Film it.

Use all office resources as your own: fax, email, computers, postage. The burden should not be on you or on your nearest unemployment office staff.

Wed, 06/08/2011 - 20:14 | 1353034 Matte_Black
Matte_Black's picture

No doubt that unemplyoment/underemplyment is the pink elephant in the room. There will be no real recovery. This shit is terminal.

Otoh, my company is desperately searching for people who have truck or van, have a good work ethic, no record of dui and felonies, and can pass a piss test. No go... not happening... can't find people who can jump those hoops.

Shit, the job starts at a thousand a week easy, and some of our guys make 2-3 thousand a week. We train. No diplomas or certs needed. Still no go. I'm at a loss frankly.

Wed, 06/08/2011 - 21:33 | 1353273 Rodent Freikorps
Rodent Freikorps's picture

No one believes anymore. They've all been scammed at least once by those bullshit "great training available" ads.

 

Wed, 06/08/2011 - 22:21 | 1353399 Seymour Butt
Seymour Butt's picture

With the price of gas as it is, it'll cost $700 to make $1,000.

When you add gas, vehicle depreciation due to wear and tear, increased insurance premiums, and higher tax bracket  an employee will be lucky to clear $300/week. How is that a good deal?

Might was well work at McD, where at least employees can get free burgers and fries. With high calorie milkshakes.

Wed, 06/08/2011 - 23:46 | 1353577 HungrySeagull
HungrySeagull's picture

Fuck the truck or van. The pay is not enough to cover the car payments, additional insurance for being owner operator or under contract and gasoline that just went through the roof.

I should know because I kicked a 1970 ford v8 through pizza delivery 200 miles or more a night all of which is delivered within 15 minutes up to 4 miles out radius.

I don't recall how many times I replaced that POS factory two core radiator. I finally dropped a 4 core one in and it wiped me out.

 

But that big old ford kept going for the 9 months I did that work. To me scrubbing the bottom of the gutter for a few dollars left at the end of the evening after shoving the lesser wussies out of the doorway.

I made some enemies there. Because I could bump thier little POS tin cars out of the way with little or no damage on my steel body. They get knocked out of alignment so easily because those crappy Omnis and K cars can only do much

 

 

The day I managed to quit was when I killed the entire braking system. Peices of metal parts falling out around each of the 4 wheels with fluids.

As far as I know the damn car is probably still rusting away there in front of that ex pizza shop which was finally closed by the state for using 14-15 year old pussy child labor girls to work the phones.

 

Christ, American Pie... Jailbait too.

Thu, 06/09/2011 - 04:02 | 1353861 Tense INDIAN
Tense INDIAN's picture

...in complete disaster in UNDER A YEAR........The time factor is the one no one is sure about....

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