Friday, June 01, 2012

Nationally, Jobs Outlook Not Good. Duh.

It's no surprise to anyone out here in reality land, but it seems to be news to the political yappers. Let's take a look at the SGS unemployment rate. John Williams at Shadow Stats notes that, "The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers." The SGS rate right now is 23%. This chart was updated today.

Williams adds that "the U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment." The U-6 rate is currently a hair below 15%.

Locally, Henderson County workers got some bad news yesterday, when PrintPak announced it was moving its production facility from Hendersonville to Rhinelander, WI. The plant here in Henderson County employs 115 people currently.

In better news, however, Kayak maker Legacy Paddlesports is doubling the number of jobs it originally expected to offer from around 40-50 to nearly 100. Their facility will be up and running this summer, so that's good news. And we're all anxiously awaiting the arrival of Sierra Nevada - yum! They can't open up fast enough for me, as I plan to be touring/sampling there on a (very) regular basis.

At least this area is more fortunate than many rural areas, in that our region is one that's appealing to people. Companies want to locate here, and people enjoy living here. Let's hope it stays that way, and that NC lawmakers aren't ignorant enough, and greedy enough, to approve fracking in this state. The potential for damage to our precious natural resources is very great, and as noted here previously, the potential for employment from fracking ops is negligible.

Unfortunately, the capacity for political stupidity is both astounding and nearly  limitless, so let's keep on these bozos, shall we?


Blogger Sonali said...

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1:01 PM  

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