Axiom Home Page Forums General Discussion The Water Cooler How's the economy in your neck of the woods?

I'm curious how the economy is doing from your neck of the woods, is it impoving or is it going south.

It's been going east(for the last 10 yrs, actually)

Johhny, I'm an economist with the bureau of labor stastics.... From my perspective the economy is flat.... I deal with business owners and hr executives mainly...

We were in a bit of a bubble for the last decade.
Things really slowed down fast, over a period of months.
Seemed like right about the time I signed the papers on the second mortgage...

An anecdote. I was at a small cookout. There were four of us. We all had jobs. Two in finance, one in marketing and one in private education.

The next time we got together only two of us had jobs.

Not good here, mining has fallen on its face. Our shop used to support 3 guys now it only keeps me and the boss busy ,with me doing the lions share. Last week it was front page news, the Yukon is struggling. If not for lots of government workers things would be a lot different. We are over run with philipino's doing the jobs that are beneath us . Harper is useless imho.

Lots of things happening around here. Crazy busy and our company keeps growing and growing. The only thing that's really slowing things down are the pipelines.

Flat here after a huge decrease over the previous years.

Around these parts, it seems to be moving along reasonably well, I guess it depends what line of work your in. Lots of 50,60,70 story buildings being built with lots of cranes. Overall, real estate seems to be humming along with sales, although moderating, r.e. values continue to increase.

In Kansas City Suburbia, I'm seeing more and more empty business buildings and shops. Probably be a ghost town in a few more years.

I live/work in the DC Metro area. The local economy has been steadily improving over the past 5 years. I don't know anyone who's out of a job at the moment. I know it's not like this everywhere, though.

We joke around here that Omaha is recession proof. We didn't get thru the downturn completely unscathed but things are moving along fairly well last couple years now.

New Hampshire has been fortunate to have one of the lower unemployment rates all along. I've seen some differences over the last 5 years, but nothing substantial either way.

The Dallas area continues to have jobs but many applicants per job. Some companies are laying off and then hiring new workers at wages 15-25% lower from the large supply of applicants.

I can't speak for all other retirees, but I haven't been laid off or furloughed from my retirement.

I was supposed to retire at 30.
It was wish full thinking but worth a shot.

I'm no economist but recently in this area,

The Bad News - The Government changed Employment Insurance in such a way that it hurts our mostly seasonal economy.
and
The Good news - When everyone goes out west, there will be more lonely ladies jobs for everyone.

The Bad News - Summer is over and half the businesses will close because they won't have the big tourism crowd to keep them going.
and
The Good News - Summer is over and the population of old couples from cruise ships in L.L.Bean shorts and Tilleys wandering around like the walking dead has been greatly reduced.

The Bad News - Our provincial Senator stole all our tax money.
and
The Good News - #DuffyMovieTitles has become one extremely entertaining Twitter trend.

Dear PEI;

Take Duffy back please. We'll pay the for his flight home.

The economy in Ontario is a mixed bag. Low interest rates and an irrational desire to own a home at any price has continued to drive construction, but you have to believe that will eventually come to an end, even in this free money economy.

Manufacturing has been gutted over the last 10 years. Though there is still a reasonably large auto manufacturing base there has been steady downward pressure on wages and benefits.

Despite the housing boom, growth has been, and will continue to be tepid.

I'm thankful that I am working for a large manufacturer supplying parts for a popular vehicle. I would not want to be looking for work in this environment and at my age.

The true measure of any economy is whether manufacturing is growing or not. I think we're going sideways at best.

Much like Edmonton, Calgary is booming as always, never really slowed down.

If we think that the economy is poor now, just wait for it.

With the way that virtually all governments (at all levels) have borrowed, excessively printed currency & overspent their way into oblivion, there is no hope of recovery until the crash finally comes & a hard reset occurs.

It's the law of economics...

TAM

Now that's just funny on several levels, 3 by my count

Somehow I don't think your that far off. The worst of the 7 deadly sins (GREED) imho, has destroyed how we live and our economy. The cost of living is keeping kids home. The number of adult children still living at home is crazy ( I moved out at 16) mine are 21 and 19 and 14 and still home. I believe unemployment is way higher than what is reported due to people not being able to get enough work to qualify. I know people that have college educated kids at home and are working at minimum wage jobs or not working. My 19y old is going to alberta in 3 weeks, the economy here is so depressed it's sad.


Sobering Facts : In the USA
3 million parents over 50 still have adult children at home
85% of college grads move back home
14 million adult children live at home.

IN Canada from Statistics Canada website:

In 2011, 42.3% of young adults aged 20 to 29 years lived with their parent(s). This is a significant increase from 30 years ago.


In 2011, 63.3% of young men and 55.2% of young women aged 20 to 24 lived with their parent(s).


In 2011, Ontario had the highest proportion (50.6%) of young adults who lived in their parental home.

Bear in mind this was in 2011 almost 3 yrs ago.


Makes me want to move back home

"I believe unemployment is way higher than what is reported due to people not being able to get enough work to qualify"

Also keep in mind they only count those actually looking for work.
I know of lots of people who could but choose not to.

One more thing, monstrous Annual Deficits & unimaginable Accumulated Debts are bad enough; however, what also matters big time is the 'Unfunded Liabilities' amounts that are so unfathomable that they cannot even be reliably estimated. I've heard figures about the US that range from $50 Trillion to $150 Trillion - obligations that are promised but with no funding. Canada's are less but certainly not manageable either.

I'm glad that I'm an old phart that doesn't have a lot more time to watch this play out. I hope that I'm gone before it does....

TAM

I am climbing the old fart ladder right behind ya . Pensions alone not to mention social programs are crippling our paychecks giving guys like me less dispensable income. Don't get me started on those fat ass senators suckin up money and cheating us taxpayers.

Some numbers just came out on the job front here in the U.S.A 120,000 new jobs were created in the last month. That number was disappointing as there had been an expectation of 180,000 new jobs created over that same time frame. Of that 120,000 new jobs, 2/3 of them were either temporary, or part time as well.

In this country (in my option) you don't have to be a seer too see whats coming down the pike if we stay on this unsustainable course of borrowing and spending. I mean a blind person can see what inevitably could happen if America doesn't put the brakes on, and soon.

Because we have the worlds largest economy, and the dollar is used as the worlds currency as to trade, we will take every other country down with us as well. The global economy would almost for certain enter into a depressed state for years to come.

With this administration, and some of the lawmakers in Washington, I holdout very, very little chance of any turn around before this catastrophic event happens.The time frame for this happening (if we stay this course) I would venture a guess and say 2016-2017.

I want too say this is just one man's (mine) option, and by no means am I trying to scare nor persuade anyone into my way of thinking about this matter. This is just a (my) conclusion I have derived at after following this subject matter very closely for a number of years now. I pray I am wrong.

Gary, unlike the so-called experts in our governments & mindless media, many of us down in the trenches can see through all of this nonsense just by using common sense alone. One does not have to be an economist/expert to be able to make more reliable predictions than those who eternally wear rose coloured glasses.

For the past 4 years, I just shake my head whenever these people in power come out with their wildly overly optimistic forecasts on what the economy is going to do 6 months down the road. From what I've seen, they have been universally wrong over that period. It would be best if they just shut up IMHO & let it ride where it wants to go...

TAM

What gary says rings true for me as well. The USA has the added complication of 2 party's in the senate that refuse to agree on anything. Time to eliminate old timers and their backwards thinking and get them out of the senate. Like gary says we all rely on the USA in some way, I hope they get it sorted out.

I heard on the radio the other day from a Detroit official who announced that their municipal employee retirees will receive only 16 cents on the dollar for their pensions vice what they were promised & expected.

Sadly the laws of economics & mathematics are starting to hit home as they always do...

TAM