Construction and Retail Employment
Submitted by
CalculatedRisk on Fri, 11/07/2008 - 12:51pm (26 comments)
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CR - Thank you for a new thread! And content! But mostly the new thread. That last one was a disaster...
It might be useful to start similar charts for state/local government employment...with the drops in tax revenues coming up, those would be interesting graphs.
the wikinvest thingies are gone...
Thought my DOW Close guess would be a little closer.
So much for change. All the same faces sitting at the table.
I had +271, I think
Isn't home improvement spending up? Why wouldn't construction workers just shift from building to remodeling?
"Retail employment could be really grim over the holiday season."
On a brighter note, the Grinch will be hiring.
I like how every graph CR posts shows that the bottom of whatever is likely to be a lot lower than we've seen in the past 30 years.
"Isn't home improvement spending up?"
Numbers say yes. Reality says no.
Isn't home improvement spending up? Why wouldn't construction workers just shift from building to remodeling?
I think home improvement spending is relatively small compared to these other areas. I don't think it can absorb the losses from residential and non-residential construction.
I like this breaking news headline from CNN.
"The Dow jumps 258 points despite a devastating jobs report and news that GM is running out of cash."
Investors speculated that by running out of cash GM would actually improve its balance sheet...
Retail employment could be really grim over the holiday season.
Ahhh I thought I read that they actually canceled the holidays this year.... Where did i see that....
/checking google news....
At least the bottom is in.
Unemployment numbers appear to be accelerating, next month will get a check on that - the seasonally adjusted U-6 numbers seem to be showing that - the June-September period runs at .3%-.4% increase MoM, then September to October jumps by .8%...
(NB: U-6 is total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers)
Table A-12. Alternative measures of labor underutilization
Where is the bottom caller tabulator matrix when you need them...
I remain slack jawed that the market managed to pump on today's news.
bro it was already priced in! LOL!
(new thread)
I dunno, maybe another same store sales report like the last one will wake a few more folks up.
CR - I will add this. You had mentioned this some time ago and I find it useful.
I say with reservation, generally retail and hospitality are in a basket together and that working in either, is a toss up - esp. as casual part time goes.
released a few days ago
(Washington, D.C.) The outlook for the restaurant industry worsened in September, as the National Restaurant Associations comprehensive index of restaurant activity fell to a new record low. The Associations Restaurant Performance Index (RPI) a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry stood at 96.7 in September, down 1.7 percent from August and its 11th consecutive month below 100.
...Restaurant operators continued to report negative same-store sales, with September representing the worst result in more than five years
RESTAURANT INDUSTRY OUTLOOK: Restaurant Performance Index Falls to Record Low - 10/31/2008 11:34:00 AM - Restaurants and Institutions
Republicans are TRAITORS writes:
So much for change. All the same faces sitting at the table.
Both major parties stand for status quo! those interested in change voted 3rd party..
My take on the employment report is here:
October Employment Report Ugly
I tried to paste it to an earlier thread on the topic, but I think it was too long. All in all a nasty report
Dirk van Dijk writes:
My take on the employment report is here:
Thanks, good read.
CR, I always wanted to ask - what program do you use to make plots like Retail Employment plot?
Thanks.
I'm curious why no one makes the connection between rampant immigration (both legal and illegal) and accelerating job losses. No other country has such a liberal policy of 'let them in at all costs.'
Legal immigration = 1 million/yr +several hundred thousand temp visas (h1b, L1).
If we simply halt all immigration for 1 year we can wipe out what are self inflicted job losses.
Retail construction jobs require professionals to have a thorough knowledge of construction planning and technology.
Andrew Abraham
MyInvestorsPlace - trading, value, investing, forex, stock, market, technical, analysis, systems
I seem to recall a certain poster from the Raleigh-Durham area (cough, cough ... rhymes with Sebastian) mocking CR back in 2007 when he predicted 600K+ construction jobs would be lost.
We've hit that mark already, and this party is just gettin' started!