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10% Unemployment Rate

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RI hit the10% mark. Highest in NE. Second in the country only to Michigan at 10.6%

These are scary times indeed!

 

I wonder what the "real" number is when you factor in those who ran out of benefits and those who have given up cwm31.gif

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Scary indeed, Here in Jersey were are seeing 7 %. But the truth is its much worse. They do not fiqure in the people who lost there 80 thousand a year job and are now working for peanuts at Mc doogles, My good friend was making 120 k and now is working for 10 dollars an hour for a roofer. He averages about 30 hours a week right now. Its still 49 dollars a week more than unemployment. He will loose everything. cwm31.gif

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It took the government over a year to admit to the the citizens that the country was in a recession it will take longer for them to admit a depression.

I know people who lost job,house ect long before anyone said the word recession.

 

The numbers of the unemployed are in millions and it's just getting worse, Will not change anytime soon.

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View PostTechnically, we couldn't have been in a recession for more than 6 months, et this point. The GDP grew in the first two quarters of 2008. That's not a recession, although the media, who don't know better, and CLEARLY have an agenda, will tell you so.

 

 

technically, I believe it's been a lot longer than 6 months- I think more like 1-2years- the difference being is that most americans were using the housing growth-including their own homes like an ATM card. The house's value (real estate) almost monthly had a new infusion of cash ( Value ). The housing market disquised what was really going on in the market. if this wasn't conveniant enough there was the easy access credit cards.

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View Posttechnically, I believe it's been a lot longer than 6 months- I think more like 1-2years-

 

 

You are wrong. You're beliefs are not fact, and you are not correct. What I postted regarding GDP is fact. Try discussing stuff based on facts, not false beliefs, OK, that way you'll be correct, know what i mean?

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You think it's bad now, wait until the national unemployment is around 12-15% with pockets of 20-25%. That is what people in the know are forecasting before we start to climb out of this mess.

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The federal government acknowledged the National Bureau of Economic Research's (NBER) position that the recession officially started on December 2007. The NBER is the widely-respected arbiter of US recessions.

 

Sounds like more than 6 months to me.

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View PostYou are wrong. You're beliefs are not fact, and you are not correct. What I postted regarding GDP is fact. Try discussing stuff based on facts, not false beliefs, OK, that way you'll be correct, know what i mean?

 

Forum=Opinions on news and facts headscratch.gif

 

Facts? Here's some common market facts of 2008...

? Our company, XXX, is well capitalized. Therefore we will not be effected by any possible downturn in the economy

? If I'm holding a bazooka, rather than just a handgun, there is practically no chance of me ever having to use it.

? The worst is behind us and we see modest growth ahead.

? The tax rebate stimulus will prevent us from entering a recession.

? Insolvant? Us, You're crazy!

 

GDP? Fact? Here you go...

koolAidPacketGrape.gif

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View PostRI hit the10% mark. Highest in NE. Second in the country only to Michigan at 10.6%

These are scary times indeed!

 

I wonder what the "real" number is when you factor in those who ran out of benefits and those who have given up cwm31.gif

 

When I lived in RI worked in MA. I always wondered what RI had to hang it's hat on, what kind of primary economic business. It's loaded with secondary service sector stuff and maybe hence the 10.6%

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View PostWhen I lived in RI worked in MA. I always wondered what RI had to hang it's hat on, what kind of primary economic business. It's loaded with secondary service sector stuff and maybe hence the 10.6%

 

I do that now..live in Riverside and work in metro south area of MA

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Tourism is a big part according to what I read but not in the northern section of the state....

 

Around here it used to manufacturing but we all know where that went.

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Rhode Island's economy includes large private companies in the health care, financial
services, marine products, defense and manufacturing sectors. Firms headquartered in
Rhode Island include CVS Pharmacy, Hasbro and Amica Insurance. The state also hosts
large divisions of such companies as Fidelity Investments, Metropolitan Insurance and
General Dynamics.
Rhode Island is a leading center of higher education, with such institutions as Brown
University, the University of Rhode Island, Johnson & Wales and Bryant University. In
addition, the U.S. Navy has long had a significant presence in the Newport area, home to
the Naval Undersea Warfare Center and the U.S. Naval War College. Government and nonprofit
community service agencies employ significant numbers of workers, and Rhode
Island's well-developed tourism industry serves visitors from all over the world.
The diversified nature of the state's economy helps to cushion Rhode Island from steep
economic downturns.cwm27.gif The top 100 firms and institutions in Rhode Island employ an
estimated 155,000 persons, which is one-third of total non-farm wage and salary

employment in the state, excluding municipal employment.

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View PostRI hit the10% mark. Highest in NE. Second in the country only to Michigan at 10.6%

These are scary times indeed!

 

I wonder what the "real" number is when you factor in those who ran out of benefits and those who have given up cwm31.gif

 

CA unemployment figures show December 2008 unemployment at 9.3%, up from 8.4% in November 2008.

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