Losing Jobs
Gee… if only we had more trains to spur job creation.
In both seasonally adjusted terms as well as un-adjusted terms, the July decline in payrolls in metro Milwaukee was the biggest month-to-month decline among the state’s 12 metro regions tracked by the agency.
With adjustments to smooth out seasonal fluctuations caused by tourism and weather, metro Milwaukee lost 1,500 jobs. Most of the other 11 metro areas were little changed, with seven of the 12 flat or showing seasonally adjusted gains in employment.
Without adjustments, metro Milwaukee lost 5,800. Without adjustments, all 12 regions lost jobs in a month-to-month comparison.
“We do see some deterioration in the number of jobs,” said Abdur Chowdhury, professor and chairman of the economics department at Marquette University.
My sales are down 8% in July and August from last year… I am looking at reducing payroll going into the lean winter months.
Add me to the list of Milwaukee employers looking at cutting.
Posted by .(JavaScript must be enabled to view this email address) on August 25, 2010 at 1415 hrs
I sometimes fear that both the supply and demand side of the economy have become so wedded to government incentives (or the prospect thereof) that everyone waits to do something that, if the government set a clearer course, they would not otherwise wait to do.
With banks still reluctant to lend and businesses sitting on their largest cash to assets ratio of all time, there’s a lot of capital sitting on the fence right now that could be far better deployed. But who wants to buy only to find out a few months later that government would’ve cut you a better deal if you waited?
Why buy a house right now if you think government will double back and reinstate the homebuyer credit? Why hire new employees when, if things remain perilous, you think government will hatch some tax scheme to incentivize your hiring of workers?
This isn’t just an Obama thing. Bush 43, Clinton, Bush 41, Reagan, on and on, they’ve all been guilty of advancing this mentality.
At this point, the best thing government can provide is clarity on a number of issues - health care, tax rates, etc., because with decisions made, individuals and businesses can plan and move forward.
Posted by Recess Supervisor on August 25, 2010 at 1433 hrs
Well said, RS ...
Posted by Smeety on August 25, 2010 at 1545 hrs
The whole healthcare uncertainty has put a big crimp on business hiring - that is why they are sitting on their cash.
There are still a crap load of foreclosures out there (thank you Barney Frank and Chris Dodd) which are causing the banks to be very tight on lending.
When these two things either get better defined or hit bottom - that’s when it will pick up again - but not before.
Posted by .(JavaScript must be enabled to view this email address) on August 25, 2010 at 1854 hrs
I can’t agree with Recess that this paralysis applies to all Presidents equally. Obama’s socialist agenda combined with the massive public employee welfare state in Wisconsin have made the situation unprecedented.
Everything has been in a dead stop the last 12 months awaiting the outcome of the upcoming election. If the dems retain control of Congress, it will tell everyone that we need to adjust to a new socialist world. Same thing here in Wisconsin. If Barrett wins and the dems retain control, I think you’ll see the exodus of business accelerate as business owners realize they can find a much better climate in other States or Countries for that matter.
People just don’t know what the political outcome will be. Frankly I’m holding off purchasing some real estate here in Wisconsin pending the outcome of the election. I still think we have a structural problem here as it relates to a high expectations labor force and poor weather climate that Walker will have a hard time overcoming vis a via the southern states. But if he’s elected, at least I have some hope.
Posted by .(JavaScript must be enabled to view this email address) on August 25, 2010 at 2023 hrs
I would say it is a combination of uncertainty and certainty, RS. You’ve described the uncertainty well, but we are also facing the certainty that government actions are propping up prices and that this should and will eventually end. No one wants to buy at what they are certain is an artificially high price.
Posted by .(JavaScript must be enabled to view this email address) on August 25, 2010 at 2044 hrs
I love how it is always government’s fault for job loss. Never a chance that companies make their own mistakes in forecasting, production, etc. Or the fault of encouraging consumers to spend more than they can afford, which ultimately results in reduced spending down the line so they can recover, thus low job growth.
but, yeah, its all liberal democrats fault. obviously.
Posted by .(JavaScript must be enabled to view this email address) on August 25, 2010 at 2223 hrs
Companies do not all make the same mistakes at the same time. So yes, this stagnation is caused by liberal democrats. And Joe Biden has the gall to say there is no doubt the economy is headed in the right direction.
Posted by .(JavaScript must be enabled to view this email address) on August 25, 2010 at 2238 hrs
Would you prefer the administration stokes pessimism? You’d bitch about that too.
Posted by .(JavaScript must be enabled to view this email address) on August 26, 2010 at 0017 hrs
Nowadays,more and more people are out of job,it is will be a problem for that.
Posted by juicy couture on August 26, 2010 at 0506 hrs
The Left remains in denial. I’m gonna love November this year.
Of COURSE this is the fault of the Lefties. Liberal/Socialist policies over the past 80 years, coupled with corporate cronyism is on the verge of destroying the great capitalist experiment. These capitalists the Left despises are the ones who make jobs. Not the government, not “non-profits”, but capitalists. Without capitalists, there are no non-profits and no government jobs. Where do you suppose government revenue originates?
For the uber-brilliant elite, Lefties sure are dumb.
Posted by Deekaman on August 26, 2010 at 0525 hrs
George, this state has been run by progressives for it’s entire history. The business climate is set by levels of taxation, zoning ordinances, building codes, permit fees, licensing, etc. all of these things are dictated by government.
So, yes, the reason businesses are leaving Wisconsin in droves is because progressive ideology has proven to be unfriendly to business.
Just listen to yourself and some of your progressive friends talk. You sneer any time you talk about businesses… Do you think the morons in Madison are any different? They went to the same liberal Universities, they hang out in similar circles of friends who despise diversity of thought… You progressives are all the same. Closed minded, ideologues who will stop at nothing to make a buck off the productive class.
Posted by .(JavaScript must be enabled to view this email address) on August 26, 2010 at 0657 hrs
Thanks for sharing your information.
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