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I'm never buying a NIB pin again. Ever. But it's not because of any recession. Which we are 100% in at the moment.
I saw the opportunity to jump ship this spring from my private sector employer and moved to a public sector one. Locking in a government job was the right move for me.
The FED needs to pump the Federal effective rate to 5% immediately. The sooner we can cool demand and get inflation under control, the better.
Quoted from CryHavoc:Wow it's been downright pleasant for several weeks. It's too bad we have to get back to "normal." Well it was nice while it lasted, but some people just can't let their lame-ass personal crusades die. Wait, I need to stick with my trademark style guide.
Final shouting single sentence paragraph with an exclamation mark!
Forum handle checks out...
Quoted from CrazyLevi:Gas prices continue to plummet, and still more good economic news.
Just doesn’t jibe with the “looming” scaremongering!
[quoted image]
Holiday temp jobs. And it's nowhere near as many as in years' past.
The 3.7% unemployment number is skewed, since so many people have left the job market and are no longer looking for work.
Neither of those two metrics are a good indicator of the current state of the economy any more.
Quoted from Vino:And folks still seem to be going out to eat, still taking vacations or worse - buying pinball machines.
Go figure.
No we're not. I'm not doing ANY of those things at the moment.
Quoted from MtnFrost:I believe the sentence there is, "No I'm not." Unless that was the royal "we"?
"folks" in the first statement generalized that more than Vino was still going out to eat, taking vacations or worse - buying pinball machines.
My response was in-kind. I'm not the only one who's cranked back on spending.
Anyone who uses the unemployment rate as a measure of the strength of the economy is either ignorant, short-sighted, or both.
Unemployment rate assumes that there's a fractional relationship between those looking for work and the number of jobs available. It's not that simple.
The great retirement has completely shattered the usefulness of the unemployment rate analysis. Not to mention welfare programs which pushed even more eligible workers out of the labor pool.
The dwindling of the workforce population in the US has created a labor shortage. Everywhere. As the boomers continue to exit the workforce, it's going to get worse.
Quoted from dsmoke1986:I work in the employment business. 6 figure gigs have gotten slaughtered since the spring across multiple verticals.
I've observed the same.
And the high 5 figure jobs are losing the race against inflation at this point too. It's not pretty.
Quoted from dsmoke1986:Def not. And all my clients aren’t adjusting base salary ranges for inflation. Same base ranges they’ve been for the last 10 years. These are major companies in biotech, market leaders.
Unfortunately they have the mindset that since they might be the only ones hiring, they can set the salary band low and get away with it. That’s a major problem. Salaries aren’t keeping pace with inflation, not even close.
Minimum wage positions might, but that’s not the strength of the economy. People who keep saying the sky isn’t falling, it already has. By the time they realize it, it will be too late. Massive defaults are on the horizon. I’m getting super tight with money, and my income is relatively high. I don’t care, been through this before, I feel this one might be worse than 08/09
I thought I was killing it last year when I finally made the leap from a 13-year job that averaged 2.5% year-over-year increase in pay. I made a 1-time jump of 37% into a government job that is locked in to 9 more years of 3.5% increases. And I STILL feel like I'm behind the 8 ball. It sucks.
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