Buddy can you spare a dime.

They can stuff all the retraining they want into a 5 lb. sack; but until they create jobs, the unemployed are doomed.

For the first time in my entire life, I actually know people who are not only unemployed, but unemployed, in foreclosure, and filing for Chapter 13 bankruptcy. WTF!

Table D. States with statistically significant employment changes from September 2007 to September 2008, seasonally adjusted

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| September | September | Over-the-year
State | 2007 | 2008(p) | change(p)
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Arizona....| 2,670,700 | 2,611,500 | -59,200
Florida....| 8,014,500 | 7,899,000 | -115,500
Georgia....| 4,153,900 | 4,092,800 | -61,100
Michigan...| 4,249,500 | 4,171,600 | -77,900
Nebraska....| 965,800 | 978,600 | 12,800
Rhode Island....| 490,800 | 478,200 | -12,600
Texas....| 10,394,700 | 10,642,600 | 247,900
Wyoming.....| 290,100 | 298,300 | 8,200

"

"

The Mass Layoff Statistics (MLS) program collects reports on mass layoff actions that result in workers being separated from their jobs. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance (UI) filed against them during a 5-week period. Extended mass layoff numbers (issued quarterly) are from a subset of such establishments—where private sector nonfarm employers indicate that 50 or more workers were separated from their jobs for at least 31 days. http://www.bls.gov/mls/

MSL Fast Facts
http://www.bls.gov/news.release/mmls.nr0.htm

* From January through September 2008, the total number of events at 14,811, and initial claims, at 1,510,446, were the highest for the January-September period since 2003 and 2002, respectively.

* The manufacturing sector accounted for 28 percent of all mass layoff events and 36 percent of initial claims filed in September 2008; a year earlier, manufacturing made up 34 percent of events and 44 percent of initial claims.

* In September, the number of manufacturing claimants was greatest in transportation equipment manufacturing (19,278), followed by machinery manufacturing (4,058).

Mass layoff events and initial claimants for unemployment insurance.

Distribution by Industry
http://www.bls.gov/news.release/mmls.t03.htm]

Mass Layoff Events (MLE)
Initial Claimants for Unemployment Insurance (ICUI)
Sep07 / Jul08 / Aug08 / Sep08

Total MLE......... 1,307 / 1,512 / 1,772 / 2,269
Total ICUI........ 128,487 / 151,171 / 173,955 / 235,681

Total, private nonfarm
MLE....................1,204 / 1,368 / 1,622 / 2,092
ICUI.................121,294 / 140,116 / 163,800 / 221,538

Manufacturing
MLE....................430 / 443 / 599 / 603
ICUI.................53,432 / 57,470 / 72,244 / 81,414

Distribution by Region
http://www.bls.gov/news.release/mmls.t05.htm.

Mass Layoff Events (MLE)
Initial Claimants for Unemployment Insurance(ICUI) Sep07 / Jul08 / Aug08 / Sep08
United States
MLE .......... 717 / 1,891 / 1,427 / 1,292
ICUI.......... 67,385 / 200,382 / 139,999 / 129,586

Northeast
MLE .......... 96 / 281 / 226 / 142
ICUI.......... 8,660 / 25,506 / 22,736 / 11,646

South
MLE.......... 160 / 450 / 362 / 475
ICUI......... 15,913 / 48,440 / 38,188 / 43,772

Midwest
MLE........... 156 / 606 / 307 / 225
ICUI.......... 17,273 / 84,535 / 33,238 / 26,646

West
MLE..... 305 / 554 / 532 / 450
ICUI.... 25,539 / 41,901 / 45,837 / 47,522

Michigan, already leading the nation's unemployment rate, jumped roughly two percentage points in six months, adding thousands more to its ranks of the unemployed.

[Michigan Labor Force Data http://www.bls.gov/eag/eag.mi.htm]

Apr / May / June / July / Aug /Sept 2008

Civilian Labor Force
4,981.6 / 5,007.4 / 4,990.2 / 4,958.9 / 4,943.4 / 4,924.1

Employment
4,635.9 / 4,579.5 / 4,566.8 / 4,539.6 / 4,504.4 / 4,494.9

Unemployment
345.8 / 428.0 / 423.3 / 419.2 / 439.0 / 429.3

Unemployment Rate
6.9 / 8.5 / 8.5 / 8.5 / 8.9 / 8.7

These figures do NOT yet count the round of auto cuts currently announced and looming by the end of this year. It is expected that another 25,000 auto workers will join the ranks of the unemployed nationwide, most in Michigan. Also not included in these projections is the fall out to suppliers, ad agencies, lunch counters, etc. that are dependent on the autos for their jobs.

Even if all three American auto companies survive, which is highly unlikely, they will only be roughly half the size of what they once were. This means the job loss is permanent, and there are no industries on the horizon to fill the hole left in the job market by the domestic auto and supplier companies. Loans to the autos will not prevent the contraction. Loans to the autos will simply assure that there is a domestic auto industry left in 2010 to fight another day.

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Comments

economic fiction

Retraining is pure economic fiction since the US workforce has the highest education in the world as well as a very high skilled workforce already.

We already graduate each year more STEM people than there are jobs in the United States.

Another piece of economic fiction is outsourcing or displacing US workers with guest workers creates jobs.

I agree with you, unless they get real and start creating, negotiating for jobs, getting the middle class employed, it's pure bunk.

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Pinch me, I must be dreaming.

Emanuel Says Auto Industry Essential to U.S. Economy
http://www.bloomberg.com/apps/news?pid=20601087&sid=aSy5ga58yIJg&refer=home

Nov. 9 (Bloomberg) -- Rahm Emanuel, President-elect Barack Obama's chief of staff, called the auto industry an ``essential'' part of U.S. manufacturing, while stopping short of endorsing a proposal to use some of the $700 billion financial-rescue fund to aid automakers.

``The auto industry is an essential part of our economy,'' Emanuel said on ABC's ``This Week.'' Lawmakers should speed up the availability of $25 billion in government loans for the development of fuel-efficient cars, he said.

In addition, there are ``other authorities'' the administration can use immediately and Obama ``has asked his economic team to look at different options of what it takes to help bridge the auto industry so they are a part of not only a revived economy, but part of an energy policy going forward.''

They're asking for another four years -- in a just world, they'd get 10 to 20 ~~ Dennis Kucinich

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Tom Waits...

They're asking for another four years -- in a just world, they'd get 10 to 20 ~~ Dennis Kucinich

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