Comments on: Reaction to shocking jobless data http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/ Share your views on hot topics Tue, 10 Nov 2009 05:03:30 +0000 http://wordpress.org/?v=2.6.2 By: sally http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/#comment-350501 sally Wed, 17 Dec 2008 17:29:37 +0000 http://blogs.reuters.com/ask/?p=10767#comment-350501 Yeah, peeps. Yeah, peeps.

]]> By: Plenty of jobs http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/#comment-350456 Plenty of jobs Fri, 12 Dec 2008 01:16:32 +0000 http://blogs.reuters.com/ask/?p=10767#comment-350456 There will be plenty of jobs in new technology. Imagine if we could replace every car truck & bus on the road with a new electric plug-in vehicle. That's a lot of work and a lot of profit. Also the consumer and the environment win. Less oil and pollution, and lower costs to run. 'Just Do It' There will be plenty of jobs in new technology. Imagine if we could replace every car truck & bus on the road with a new electric plug-in vehicle. That’s a lot of work and a lot of profit. Also the consumer and the environment win. Less oil and pollution, and lower costs to run.
‘Just Do It’

]]> By: Ananke http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/#comment-350454 Ananke Thu, 11 Dec 2008 17:38:46 +0000 http://blogs.reuters.com/ask/?p=10767#comment-350454 We experience job cost arbitration. With open trade job losses and earnings decreases will not stop until they equal outsourced ones. Once manufacturing laborers start making 2.50 dollars per day as in Gianghong, there will be no more incentives for outsourcing. Of course, much before that happens half of the American population will be on the streets in civil disorder. So, good luck! We experience job cost arbitration. With open trade job losses and earnings decreases will not stop until they equal outsourced ones. Once manufacturing laborers start making 2.50 dollars per day as in Gianghong, there will be no more incentives for outsourcing. Of course, much before that happens half of the American population will be on the streets in civil disorder. So, good luck!

]]> By: RUFUS http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/#comment-350423 RUFUS Mon, 08 Dec 2008 23:48:17 +0000 http://blogs.reuters.com/ask/?p=10767#comment-350423 Minimum wages, coupled with Fed regulations prohibiting kids under 16 from being hired have make summer and part time jobs for young folk non-existent. Thus, no work ethic or experience is created. The minimum wage set the price for illegal immigrants to work for less, and therefore take legitimate jobs away from the US Citizens. The non-enforcement of visa and visitor permits to the US has made the US govenment complicit in the lack of jobs available for the loss of manufacturing and service jobs. The cut backs are part of a shrunken economy...if the economy were to heal, the service and hospitality and retail jobs would return. Whenever a recession occurs, jobs are lost. It is the market reaction, and government intervention will only make it worse until they stop messing with wages and job criteria. Minimum wages, coupled with Fed regulations prohibiting kids under 16 from being hired have make summer and part time jobs for young folk non-existent. Thus, no work ethic or experience is created. The minimum wage set the price for illegal immigrants to work for less, and therefore take legitimate jobs away from the US Citizens. The non-enforcement of visa and visitor permits to the US has made the US govenment complicit in the lack of jobs available for the loss of manufacturing and service jobs. The cut backs are part of a shrunken economy…if the economy were to heal, the service and hospitality and retail jobs would return. Whenever a recession occurs, jobs are lost. It is the market reaction, and government intervention will only make it worse until they stop messing with wages and job criteria.

]]> By: DollarBill http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/#comment-350421 DollarBill Mon, 08 Dec 2008 22:53:36 +0000 http://blogs.reuters.com/ask/?p=10767#comment-350421 What I really love is when EVERYTHING is blamed on the Labor Unions. Can you remember why Labor Unions were formed in the first place? It was to protect the workers that actually produced the goods. The media talks about the labor costs on the new cars are close to $2,000.00. Hmmmm, let's take the $2K from an average new vehicle, and you're still looking at $25,000.00! Paste these words into a Google search, 'Ratio of CEO salary to worker salary'. You find out where the money is going. Big salaries and bonuses are being paid for sending all the jobs to a foreign country. There is one word to sum up the problem with our country today. G-R-E-E-D! Then, combine that with the fact that this country is drifting away from the foundation it was built on. The United States of America was founded on Christian Principles. Is it really not that clear that the USA is 'sinking' as we keep throwing our Christian beliefs overboard? The citizens of this Great Nation better open your eyes and take note as to where we are headed. Even though I did not vote for President-Elect Obama, I will still support the office of President. Those that are quick to blame all this on President Bush need to sit back and think how many times we have been attacked on our soil since 9-11. WAKE UP PEOPLE! What I really love is when EVERYTHING is blamed on the Labor Unions. Can you remember why Labor Unions were formed in the first place? It was to protect the workers that actually produced the goods. The media talks about the labor costs on the new cars are close to $2,000.00. Hmmmm, let’s take the $2K from an average new vehicle, and you’re still looking at $25,000.00! Paste these words into a Google search, ‘Ratio of CEO salary to worker salary’. You find out where the money is going. Big salaries and bonuses are being paid for sending all the jobs to a foreign country.

There is one word to sum up the problem with our country today. G-R-E-E-D! Then, combine that with the fact that this country is drifting away from the foundation it was built on. The United States of America was founded on Christian Principles. Is it really not that clear that the USA is ’sinking’ as we keep throwing our Christian beliefs overboard? The citizens of this Great Nation better open your eyes and take note as to where we are headed. Even though I did not vote for President-Elect Obama, I will still support the office of President. Those that are quick to blame all this on President Bush need to sit back and think how many times we have been attacked on our soil since 9-11. WAKE UP PEOPLE!

]]> By: Om http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/#comment-350420 Om Mon, 08 Dec 2008 20:47:20 +0000 http://blogs.reuters.com/ask/?p=10767#comment-350420 Americans are the ultimate loosers as you buy more and more China make products. Any politician cannot ask openly in public to stop buying China makes in US..that is against international bussiness conduct. As americans dont mind buying chineese make as long as they are cheap..big corporates dont mind moving manufacturing jobs to china to compete is local and international markets. If americans want to stop the job menace stop buying chineese..the govt has already done all it could..it ultimately boils down to consumer selection on how americans spend money. Americans are the ultimate loosers as you buy more and more China make products. Any politician cannot ask openly in public to stop buying China makes in US..that is against international bussiness conduct. As americans dont mind buying chineese make as long as they are cheap..big corporates dont mind moving manufacturing jobs to china to compete is local and international markets. If americans want to stop the job menace stop buying chineese..the govt has already done all it could..it ultimately boils down to consumer selection on how americans spend money.

]]> By: Kristen Eastlick, Employment Policies Institute http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/#comment-350419 Kristen Eastlick, Employment Policies Institute Mon, 08 Dec 2008 18:12:37 +0000 http://blogs.reuters.com/ask/?p=10767#comment-350419 Current unemployment rates—the highest in 15 years—can partially be attributed to federal minimum wage hikes in 2007 and this July. Legislators’ decisions to substantially increase the minimum wage during good economic times now bring unintended consequences for entry-level workers. Employers (who are seeing demand for their products and services dropping dramatically) are forced to respond to these higher labor costs by cutting positions and staff hours. Sectors that tend to employ a greater number of workers at the minimum wage, such as restaurants, fast-food outlets, and retail stores are the most likely to see layoffs. Some McDonald's stores in Illinois are testing kiosks for ordering and automated cooking systems that replace minimum wage workers. The unintended consequence of past minimum wage hikes is job loss for entry-level workers at a time when they need help the most. A job at the previous minimum wage is much better than none at a higher rate. Current unemployment rates—the highest in 15 years—can partially be attributed to federal minimum wage hikes in 2007 and this July. Legislators’ decisions to substantially increase the minimum wage during good economic times now bring unintended consequences for entry-level workers.

Employers (who are seeing demand for their products and services dropping dramatically) are forced to respond to these higher labor costs by cutting positions and staff hours. Sectors that tend to employ a greater number of workers at the minimum wage, such as restaurants, fast-food outlets, and retail stores are the most likely to see layoffs. Some McDonald’s stores in Illinois are testing kiosks for ordering and automated cooking systems that replace minimum wage workers.

The unintended consequence of past minimum wage hikes is job loss for entry-level workers at a time when they need help the most. A job at the previous minimum wage is much better than none at a higher rate.

]]> By: Don http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/#comment-350418 Don Mon, 08 Dec 2008 17:40:23 +0000 http://blogs.reuters.com/ask/?p=10767#comment-350418 Of course any level of unemployment is bad. I am more concerned about whether or not people make enough to survive given the cost of living and taxation. I just want to point out that giving 1 million people $10 each to do walk around the block is quite different from giving 10 people $1 million each to develop new products. Capital has to overcome a critical threshold to be useful. Putting money into make-work projects is just like throwing money away - the end result being increased debt. We should just reward people really well for the risks they take - maybe by reducing business taxes to zero or permitting more write-offs for research spending (even against personal income). It just seems like everytime a person tries to do something new, there are all sorts of structural disincentives. Of course any level of unemployment is bad. I am more concerned about whether or not people make enough to survive given the cost of living and taxation. I just want to point out that giving 1 million people $10 each to do walk around the block is quite different from giving 10 people $1 million each to develop new products. Capital has to overcome a critical threshold to be useful. Putting money into make-work projects is just like throwing money away - the end result being increased debt. We should just reward people really well for the risks they take - maybe by reducing business taxes to zero or permitting more write-offs for research spending (even against personal income). It just seems like everytime a person tries to do something new, there are all sorts of structural disincentives.

]]> By: Joe S. http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/#comment-350416 Joe S. Mon, 08 Dec 2008 16:42:47 +0000 http://blogs.reuters.com/ask/?p=10767#comment-350416 To paraphrase the first Clinton campaign, "It's the consumer stupid....." Washington needs to stop paying attention to Wall Street and start paying FULL attention to Main Street. If American Consumers were given the almost Trillion dollars that are being given to the banks, AIG and the now the auto industry, more people could continue to make mortgage payements while their mortages were restructured, folks buried in credit card debt could dig out to a responsible level and then spend wisely, the rest who have been managing debt responsibly could outright spend the money in the economy which would stop the free fall of layoffs because consumer confidence and demand would rebound. Add to this, lower gas prices for a while and things will back on an even keel in relatively short order. If Main Street demand for goods and services rebounds significantly, the stock market will return to Bull status and take care of itself quite nicely. The banks will also follow suit because of an increased inflow of cash. Hello Washington, pipe the money through the consumer to the producer. This is a natural economic flow for success. To paraphrase the first Clinton campaign, “It’s the consumer stupid…..” Washington needs to stop paying attention to Wall Street and start paying FULL attention to Main Street. If American Consumers were given the almost Trillion dollars that are being given to the banks, AIG and the now the auto industry, more people could continue to make mortgage payements while their mortages were restructured, folks buried in credit card debt could dig out to a responsible level and then spend wisely, the rest who have been managing debt responsibly could outright spend the money in the economy which would stop the free fall of layoffs because consumer confidence and demand would rebound. Add to this, lower gas prices for a while and things will back on an even keel in relatively short order. If Main Street demand for goods and services rebounds significantly, the stock market will return to Bull status and take care of itself quite nicely. The banks will also follow suit because of an increased inflow of cash. Hello Washington, pipe the money through the consumer to the producer. This is a natural economic flow for success.

]]> By: Ananke http://blogs.reuters.com/ask/2008/12/05/reaction-to-shocking-jobless-data/#comment-350415 Ananke Mon, 08 Dec 2008 15:52:09 +0000 http://blogs.reuters.com/ask/?p=10767#comment-350415 All your money and jobs went to Asia. This is what negative trade balance means. And your jobs and money still keep going there... All your money and jobs went to Asia. This is what negative trade balance means. And your jobs and money still keep going there…

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