13 comments on this post so far. Add yours!

• 

  Kage_Mann on November 06 at 3:27 p.m.

  Unemployment in the silver valley is much worse.

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  hmoffsuite on November 06 at 3:42 p.m.

  Unfortunately, Cda has a seasonal business climate and we are going into the off season. I would anticipate the job market to worsen for a quarter or two then maybe bounce back next Spring. Jmho.

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• 

  sue on November 06 at 4:07 p.m.

  I wonder what unemployment rates for 2006,07,08 in November were.

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  Laughing on November 06 at 4:13 p.m.

  Cda is going to be a 'boom town' shortly. All of the incumbants have stated that seeking/obtaining more/new employers/jobs is a priority. Yep. 'boom town' a coming.

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• 

  hmoffsuite on November 06 at 4:24 p.m.

  Sue, off the top of my head, I think you can go back only a couple of years to see Cda unemployment in the 2.5 to 3.0 range. That when the Country was at about 6% Areas like ours are high beta economies meaning they fluctuate more than the averages. For the current local unemployment to be this high, the impact can be noted.

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  eagleeye on November 06 at 4:43 p.m.

  I would say a great deal of these jobs are construction related and we all know that sector is in the tank. I spend alot of time on the front line with these blue collar folks. Many of them are moving from the area. If I where to speculate I would say the population of Kootenai County has dropped in the last 6 months. We will get economically healthy again but it is going to take a while. The biggest thing we have going for us is that North Idaho is a great place to live. In the mean time this winter is going to be hang on time. And the #1 focus of our city leaders must be job recruitment and creation .

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  hmoffsuite on November 06 at 4:49 p.m.

  eagleeye >> The biggest thing we have going for us is that North Idaho is a great place to live. In the mean time this winter is going to be hang on time. And the #1 focus of our city leaders must be job recruitment and creation .

  I am in complete agreement with you on that statement.

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• 

  Phaedrus on November 06 at 5:14 p.m.

  Cda is going to be a 'boom town' shortly. All of the challengers have stated that seeking/obtaining more/new employers/jobs is a priority. Yep. 'boom town' a coming.

  oh, they all lost. never mind.

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  sue on November 06 at 8:09 p.m.

  I just wanted someone else to do the research for me. I wonder if November is the slump month, so to speak, and that the numbers are not that far off from other years. i couldn't find the answer on a quick web search, but would be interested if someone else finds the answer.

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• 

  spokelooneh on November 07 at 10:37 a.m.

  Unemployment hasn't yet been as bad as it got under Reagan (10.8% with many months over 10%), but it may very well get that bad.

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• 

  hmoffsuite on November 07 at 10:57 a.m.

  Unemployment is a trailing indicator. It follows and lags behind the actual growth of the economy. Since the recent GDP for Q3 was reported as 3.5%, one might think unemployment might get better trailing the quarter growth. But, that growth is questionable as it was mostly made up of cash for clunkers and other consumer incentives. Home buyer credit was another. The home buyer credit has been extended and expanded some. That is good. If it is enough to enable further GDP growth in the current quarter, it might be for real and things should be improving.

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• 

  hmoffsuite on November 07 at 11:47 a.m.

  Rather interesting article today on unemployment. It hurts more now.

  http://www.google.com/hostednews/ap/a…

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• 

  spokelooneh on November 07 at 11:45 p.m.

  Excellent article, HMO.

  “It hurts more to be unemployed now than the last time the jobless rate hit 10 percent.

  Americans have more than triple the debt they had in 1982, and less than half the savings. They spend 10 weeks longer off the job. And a bigger share of them have no health insurance, leaving them one medical emergency away from financial ruin.

  For these reasons, the unemployed are more vulnerable today to foreclosure and bankruptcy than they were a generation ago.
  …
  he unemployment rate hit 10.2 percent in October. All told, 15.7 million Americans are out of work. Add in workers forced to settle for part-time work or those who have simply given up looking, and the rate is 17.5 percent.
  …
  People carry an average of about $46,000 in debt — mortgages, credit cards, auto loans and other consumer debt. That's a far bigger load than in 1982, when per capita debt totaled about $14,000 in today's dollars.

  And savings, as a percentage of after-tax income, was only 2.7 percent last year, down from 10.9 percent in 1982. Americans stashed an average of just $940 last year, compared with $2,537 in 1982. That helps explain why the foreclosure rate runs about seven times higher today.

  Not surprisingly, that means more Americans — about three times as many — are going bankrupt.
  …
  Another reason layoffs are more permanent: Manufacturers these days are more aggressive about using technology to boost productivity — or they hire cheaper workers overseas as the economy improves.
  …
  

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