27 Sep
2002
27 Sep
'02
10:47 a.m.
steve wrote:
--- Chandra Bajpai <cbajpai(a)attbi.com> wrote:
I am amazed that some people can drop that
These numbers don't sound too serious, until you realize
the nature of this unemployment (many highly-skilled,
college-educated workers) vs. the employment (retail,
minimum-wage, or low-wage jobs.) I know several
qualified engineers working far below their ability.
They're being counted as employed, but at a far lower
salary, doing something they're overqualified for.
Also, unemployment is grossly under-reported.
There are lots of people who are out of work long enough
now, that they're not being counted as unemployed anymore,
due to some trickery enacted back in the 80s to make
recessions seem less severe.
Unemployment is almost certainly 10-15% right now, and
again, note the sorts of people who were laid off that
make up that "only" 1% increase. A lot of them are
undoubtedly geeky computer collectors.
And finally, I know so many engineers out of work
personally,
that I have to conclude the government is lying about
the statistics they're releasing.
-- Ross
much cash in this
economy.
I also observed that the supply has not gone up...I
would expect more
systems on the market as people would sell their
"luxuries" to raise
cash. I just haven't seen it. Any one agree?
I don't. The recession is not that serious for this to
happen, median household income declined 2.2% last
year, and unemployment went up 1%, that tells me the
overwhelming majority of collectors still have their
jobs and adequate income to collect.
steve
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