The monthly jolt of bad news coming out of the US Department of Labor hit this morning, with the Bureau of Labor Statistics reporting that employers cut 651,000 jobs in February. Those cuts, which do not include farm workers, pushed the unemployment rate in the United States up to 8.1 per cent from 7.6 per cent in January. Much …
wait until summer
When school and colleges are out and all those kids are looking for work, too.
And it is hard to keep those IT skills sharp
without the waving of a pay cheque. Only the obsessed will be in IT by the end of this one.
Though we should see the start of a quite a few new IT projects. Some are thinking open source will get hit, and it will a bit, but we may see more commercial software on Unix, coming from independent software houses, so not all bad.
I am sure there will be a few riots as well, so something interesting to watch on the TV.
It will stop shortly after mid 2010, October perhaps. In an odd coincidence the DJIA will also bottom the same day at $2010.10 and the economy will finally start to pick up. On the upside, the recovery will be squashed in 2013 as the United States Government starts collecting income taxes on a "progressive scale" with a bottom rate of 50% in an ill fated attempt to save the Social Security Ponzi Scheme which buckles from the initial ripples of what will be an enormous tide of baby boomers. No, seriously, that IS the upside because the downside is a triple digit DJIA caused by major revolts as people just say screw it and head off into the wilderness of Canada, Mexico, Peyote and LSD. Then again there is a chance that won't happen, small, but a chance nonetheless.
Like this makes a difference
So, who will Microsoft send to DC to lobby against any kind of visa cap, Gates or Ballmer?
the economy is not bad yet
Why do I say this, because the armed forces in the US can not fill their quotas . When this happens you know it's hit the fan.
There is a UK based term that begins with a 'w' and rhymes quite well with bankers.
They should be shot at dawn (the bankers I mean or *ankers as it seems in this instance that both are one)
All the economists know the earliest the US economy
will start to recover is June 2010 and right now even that is an optimistic prediction (odds are running about 25-75 against). They're just afraid to say so because they don't want the IRS and local government ankle biters giving them an unexpected audit like Joe the Plumber got.