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Life and Times of an itinerant slacker in Sacramento. Thrills, Spills Galore coming soon. Not to mention lots of opinions.

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Thursday, August 13, 2009

Oh Happy Days Are Here Again

At least for those of us People Who Matter (i. e., Wall Street executives), I guess.

We keep on hearing news about how great the economy is doing. The press and the Whitehouse are loudly trumpeting the good news, "The Recession is Over". To be fair, the administration has been somewhat more sangine, acknowledging that the problem is not fixed until our good citizens can get back to work. Three Cheers for someone willing to tell the truth.

What about those of us who depend on working?

The Federal Government's Bureau of Labor Statistics reports that from June to July 2009, participation on the labor force has dropped by 422,000. In plain English this means that, in July, we had 422,000 less people working than we had in June. Yep, that sounds like the beginning of a recovery to me. This great interactive map has been updated through June, so you can see the monthly changes in employment. The map is easy to understand, since when it is almost all blue, things are ok, when it's red, Americans willing to work are not finding opportunities to improve their lives through the workplace.

So what else is happening for those poor no account schmucks that have to work for a living?

People Who Matter must not really care about our neighbors losing their homes, since I had to look to the local press (the Twin Cities Pioneer Press) to get a decent summary of what the most recent monthly data looks like,and it ain't a pretty picture. No, Beavis, This Sucks!!

Changes from June 2009 to July 2009:

Percentage Increase in Foreclosures 7%
(more homeowners are in serious trouble)

Monthly Foreclosure Filings
(the number of homeowners who are newly foreclosed in July):

Increase from July 2008 32%

Number of new Foreclosure and/or default notices issued 365,000
(that's one notice for 1 out of every 365 houses nationwide)

Number of houses reposessed (i. e., number of couches onthe front lawn)
June 2009 79,000
July 2009 87,000

With news like this, I'm so happy I could dance the Oceana Roll!

That's my story and I'm sticking to it.

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I must enjoy shouting into a vacuum, but I think about getting my act together one of these days. My mom says I am very handsome and intelligent.

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