How bad is the economy?

[kerry]

The media says unemployment is high and work is hard to come by. I need a bathroom added to an apt building. I've sent e-mails and left phone messages for about 7 or 8 remodelers and contractors over the last couple of days. Not a single one has called me back. I thought people would be anxious for work. Apparently not.
Two people I talked to in person have looked at the job.

[Hatterasguy]

Most of the contractors left are good at what they do, and busy.

[Skid Row Joe]

Originally Posted by Hatterasguy

Most of the contractors left are good at what they do, and busy.

This is true in my industry too.

There's a few left, but the posers/wanna-bes have disappeared from my industry. i.e. spouse supports them, fled to another industry, and/or a vast majority went back to Mexico around here.

[raymr]

Our household is fully employed, including 2 teens and a 22 year old.

I don't know how bad the economy is.
Why is the Dow dropping when a bunch of big banks and companies are reporting profits?

[elchivito]

Originally Posted by raymr

Our household is fully employed, including 2 teens and a 22 year old.

I don't know how bad the economy is.
Why is the Dow dropping when a bunch of big banks and companies are reporting profits?

Because the stock market no longer has any relationship to anything resembling reality.

I recently had a small tile job in a little bathroom that I had managed to neglect doing for almost 20 years. Finally SWMBO insisted I get it done. This was a little tub-toilet room that needed a floor area of about 35 sq. feet tiled, and a new toilet installed. I ran an ad on Craigslist. Described the job well. I said all you have to do is pull the old toilet, set the tile using fast-set mortar, install the new toilet, I'll do the grout and sealing. Easy one day job if I did it myself, a good pro could do it in 4 hours. I offered to help with the grunt (pun intended) work on the toilets. Offered 120 bucks cash figuring 8 hours at 15 dollars an hour but knowing it wouldn't take a pro near that long. I asked for local references. I got 22 replies overnight, all with references. The guy I hired drove 45 miles one way and was happy to get the work. It took him 3 hours total including cutting tile for baseboards. He had had his own sub contractor business and did all the install work for Home Depot during the boom. They'd gradually cut him off and finally dumped him due to the slump. He had to lay off 15 employees. He did a great job and was happy to have the work. Interestingly, I got several angry emails accusing me of taking advantage of out of work tile setters. I presume these were from those who'd rather sit on the couch and blame the Messicans than actually go out and earn some money.
It's picking up a bit now, but not much. Most of the people who have work are doing jobs on repo houses that are being snapped up by bottom feeders.

[Pooka]

People with necessary skills are in demand right now. If you have some very special skills that are unique to the oil business you should check out the Career sites at any of the major oil companies. They are all hiring.

There are lots of really nice jobs out there if you have the proper skill set, but a lot of companies want to only hire someone who can do the job RIGHT NOW. I can't say that I blame them; it is their money they are paying.

But there are some jobs out there that only require a little training if you are a very smart person to begin with.

The worst part about working for most oil companies is that you either have to live in Houston on in a small town where the production is located. Plus the hours can be bad, as in there are usually lots of them. But, boy oh boy, is it fun!

[Skid Row Joe]

Originally Posted by elchivito

Because the stock market no longer has any relationship to anything resembling reality.

It never has.

That's not going to change, either.

[Skid Row Joe]

Originally Posted by raymr

Our household is fully employed, including 2 teens and a 22 year old.

I don't know how bad the economy is.
Why is the Dow dropping when a bunch of big banks and companies are reporting profits?

The Dow is dropping occasionally, because of the uncertain future as regards to; taxes/laws coming out of the one-party rulers in Washington, D.C. Corporations, and investors, (me included) are sitting on record amounts of cash, because of this uncertainty. I've never in my life had as much cash on-the-sidelines as the past 18 months.

As for banks showing record profits? It is because of all the money they're making speculating on commodities, especially in the crude oil market. Rewards are too large for them in speculating, so there's no need to get involved in something risky, like lending money.

It has a lot to do with where you are and what business you're in.

[t walgamuth]

In a recession all the less strong financially will go out of business. Eventually you will suffer from lack of resources to get work done and prices paradoxically will rise.

[SwampYankee]

Originally Posted by t walgamuth

In a recession all the less strong financially will go out of business. Eventually you will suffer from lack of resources to get work done and prices paradoxically will rise.

What will be interesting to watch when we do finally start to come out of this is how many businesses, who survived the downturn, fail during the recovery period due to lack of resources and remaining in "lock-down" mode.

[Skid Row Joe]

Originally Posted by SwampYankee

What will be interesting to watch when we do finally start to come out of this is how many businesses, who survived the downturn, fail during the recovery period due to lack of resources and remaining in "lock-down" mode.

It washes-out the less hearty/capable. My Father always said the best thing about a recession was it eliminates the weak competitors in your industry. That's always the way it's worked in my industries the past almost 40 years. A shakeout was due IMO.

[strelnik]

Originally Posted by Craig

It has a lot to do with where you are and what business you're in.

That is often the case but not always. I live in Michigan and need some simple help for yardwork etc, have been offering 15.00 an hour to sit on a lawn mower.. no takers.

It's like with the local mechanic. He posted an ad for an indie mechanic, starting salary 60K, a bonus if you knew how to program high perf systems. A 19 year old came by, one year's experience at an oil change place, half way completed mechanic's courses at the local community college.

Wanted 75k to start and two weeks' vacation plus holidays.
Walked away from the job.

That's what happens when the economy in Michigan gets better, unemployment is only 13.6% and we are # 49 now instead of # 50.

[retmil46]

Originally Posted by strelnik

That is often the case but not always. I live in Michigan and need some simple help for yardwork etc, have been offering 15.00 an hour to sit on a lawn mower.. no takers.

Indeed. Two weeks ago my mother related some relative's experiences on the same subject.

One of my uncles and his wife live immediately out the road from my parents in rural NC. It had gotten to the point that his health was too bad to even use a riding lawnmower to mow their own yard. So his wife hired someone to mow it for them.

Now, we're talking a little over an acre lawn, and even in his 70's, it only took my uncle a little over an hour to an hour and a half to mow the entire yard.

The outfit his wife hired took over 3 hours to mow it - just mowing, no weeding, no trimming, etc - with a riding mower, and then charged her $30/hour for the job. And dare I say, the gent that handled the job spoke Spanish quite fluently.

End result was my uncle's wife said screw this, she'd mow the bloody yard herself.

If they're popping you for $30/hour in rural NC for mowing your lawn, I can imagine what they'd try to get in Michigan.

[strelnik]

Originally Posted by retmil46

Indeed. Two weeks ago my mother related some relative's experiences on the same subject.

One of my uncles and his wife live immediately out the road from my parents in rural NC. It had gotten to the point that his health was too bad to even use a riding lawnmower to mow their own yard. So his wife hired someone to mow it for them.

Now, we're talking a little over an acre lawn, and even in his 70's, it only took my uncle a little over an hour to an hour and a half to mow the entire yard.

The outfit his wife hired took over 3 hours to mow it - just mowing, no weeding, no trimming, etc - with a riding mower, and then charged her $30/hour for the job. And dare I say, the gent that handled the job spoke Spanish quite fluently.

End result was my uncle's wife said screw this, she'd mow the bloody yard herself.

If they're popping you for $30/hour in rural NC for mowing your lawn, I can imagine what they'd try to get in Michigan.

I am amazed at the lack of ambition by younger people when ambition translates into $$$.