Terrific chart accompanying this Sunday Times article by Louis Uchitelle, titled When, Oh When, Will HELP Be WANTED?
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Chart via NYT
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Source:
When, Oh When, Will HELP Be WANTED?
LOUIS UCHITELLE
NYT, July 18, 2009
http://www.nytimes.com/2009/07/19/weekinreview/19uchitelle.html
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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July 19th, 2009 at 5:10 pm
Tres cool.
Death and dying.
Help us “Boomers” ease our way out.
Who else can afford to pay?
Education? Yeah. Like wean them off the iPods Daddy bought them. Don’t think so.
Money for education has become a lost cause. My cat is more trainable.
When will men ever learn that cats and women are going to do what they want?
July 19th, 2009 at 5:45 pm
aren’t some of these ’sectors’ including others? like the one labeled all manufacturing, it should include all forms of manufacturing (such as cars, airplanes, food, chemicals, clothing, etc) right? and is the losses in financial/insurance understated? not sure that computer design has had any growth, not at least according to former co-workers. and considering the problems states have, that large number of state funded educators is about to get a big pruning soon. and with the collapsing wages (and jobs), the fall off in health care jobs won’t be long in coming either.
July 19th, 2009 at 5:53 pm
I am not impressed by this NYT chart much; by not including the SIZE of the sectors (i.e. the size of the headcounts ), it provides no context whatsoever. It’s like ‘empty calory’ foods.
In the recent past, the NYT has produced great graphics showing the size of the sector sas well as their percentage decline.
Finally, the cummulative 2-year decline from 2007 is more important to today’s economy than the 1-yr change; the excess capacity of the US was defined by 2007’s over-reach at the heigt of the madness….the bubble; it is that over-reach that negatively impacts us in terms of our excess auto production capacity, overbuilding of CRE, excess leverage, excess usage of the Home-As-ATM to fuel excessive payroll levels in retail, hospitality, etc, just to rattle off a few.
July 19th, 2009 at 6:01 pm
Getting back to 2007…..ask, as of today, July 2009, which are we regretting more:
Business expansion, household spending and investment decisions we made in 2008?
Or….
Business expansion, household spending and investment decisions we made in 2007 (or in 2006) at the height of the madness the irrational exuberance?
Here in Asheville, North Carolina, it’s those 2006 & 2007 decisions that are devastating this tourism, retail, and retirement-dependent economy. Likewise for the state’s other metros and nearby Atlanta.
July 19th, 2009 at 6:11 pm
@alfred “When will men ever learn that cats and women are going to do what they want?”
Sounds like the smart move is to become gay and get a dog. Next step in evolution.
July 19th, 2009 at 6:19 pm
Considering that the US Government likely has the most employees under one employer’s masthead, it would be good to know the NUMBER of employees that are thriving under the taxpayers who are paying for it.
That 6.0 per cent is not very meaningful. 6.0 percent of a million people is 60,000. while 6.0 % of 200,000 is 12,000.
Besides that I don’t believe the 6.0% anyhow. It’s a lie.
July 19th, 2009 at 6:37 pm
The two largest losers have lost 8% more jobs than the gainers have added together.
July 19th, 2009 at 6:38 pm
I have noticed an increase in the number of financial bloggers since the recession started. Did that get cut off the chart when you posted it?
July 19th, 2009 at 9:16 pm
This is off topic a little bit, but wouldn’t it be nice if Goldman could find 3 billion to lend to CIT to keep them in business since the bondholders are agreeing to the other 3? Shame it will spent on d-bags profiting off government guarantees and cheap money instead…. If I was Geithner I might be inclined to say no increases in bonuses until you don’t need government backing for your bonds, don’t need TALF or whatever the hell lending program they are in, etc, and oh, by the way, let it be known you are not to big to fail – we will nationalize, unwind, and liquidate you if you f*ck this up. AND we are opening an investigation into your frontrunning activities…(hello Patrick Fitzgerald or the like)
July 19th, 2009 at 9:51 pm
http://www.foxnews.com/politics/2009/07/19/governors-health-care-label-unfunded-mandate/
Many Governors Against Health Care Bill, Label it Unfunded Mandate
“In a heated closed-door session, both Republican and Democratic governors criticized the bill that many said could turn into another unfunded mandate from Congress. The issue dominated the afternoon discussion.
“The governors are concerned about unfunded mandates, another situation where the Federal government says you must do X and you must pay for it. Well if they want to reform health care, they should figure out what the rules are and how they are going to pay for it,” Democratic Montana Gov. Brian Schweitzer told FOX News.
“Instead what they are proposing is — they’re figuring out the rules and forcing the states to pay for it,” he said.”
The way this thing is written, it won’t help employment….but I’ve been chewed on in here before for this but I will say when Democratic governors come out and tell you this…just keep both eyes open…
Goodnight.
July 20th, 2009 at 12:39 am
Bruce in Tn:
Which version is he talking about? There is all sorts of stuff flying through the different committees right now.
July 21st, 2009 at 3:19 pm
[...] Where jobs have been gained and lost in the [...]
July 24th, 2009 at 6:03 am
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