10.1%

[Porsche-O-Phile]

California unemployment statistic released today. Into double-digit range for the first time in a quarter century. All projections are with continued declines for at least another year and I'm sure you all know that this statistic doesn't include the "underemployed" or the folks who have been out of work so long they're not counted anymore.

I wish I had some good news, but there it is.

[scottmandue]

The freeways seem less congested.

Seriously So Cal has been over crowded, over priced, and over hyped for decades.

For those of us who plan on sticking it out the economic downturn there may be some positive results, fewer cars, less people, less crowding... heck you may even be able to find a parking spot.

I wish you the best Jeff, I hope you find the job of your dreams and someplace to live where you are truly happy.

I guess us native Californians are getting to be like New Yorkers, a bunch of hard a$$es that won't leave for anything.

[Porsche-O-Phile]

There's a chance I might stay (got an interview coming up) but it's just scary how far CA is falling. Yes, times are tough everywhere right now, but CA was ground zero for the housing bubble and it's now (predictably) ground zero for this recession. There's a lot of reasons I have for wanting to stay, but I gotta' be honest - there are a lot of reasons for wanting to split too - first and foremost among them being, "you gotta' go where the work is". If it ain't here, it's time to bail.

We'll see what happens. I've got my fingers crossed that it works out but we'll see...

[woodman]

Ugh...thanks for making my day. I heard somewhere that you could fill 7 rose bowls with the number of unemployed. Happy Friday... :P

[Porsche-O-Phile]

LA/Long Beach/Glendale is 10.5%, slightly higher than average.

Sorry for the downer.

I suppose the upside is technically 89.5% of people are still working though, right?

[woodman]

That's how I look at it. I'm grateful, fo sho. And I have a really clean desk and a website that I'm updating

[Porsche-O-Phile]

Yea, I've got plenty of stuff to do right now too - it just ain't paying very well (stuff around the house, car repairs, selling crap on ebay that I've been meaning to get rid of for months, etc.) It's amazing how backlogged stuff can get when working but frankly, I'd rather be busy/working and complaining about how backlogged I'm getting!

[Zeke]

Originally Posted by Porsche-O-Phile

LA/Long Beach/Glendale is 10.5%, slightly higher than average.

Sorry for the downer.

I suppose the upside is technically 89.5% of people are still working though, right?

But those that get commissions, tips or or have small businesses are hurting. I guesstimate that if you factor their less income you could plead a case to alter the adjusted unemployment figure to 20%

If you take my case, I'm not unemployed because I'm not eligible for unemployment having been self employed for most of my 38 years as a contractor. Yet, I folded my business having canceled my city business license today yo avoid the renewal that comes up in 2 weeks with a 16% surcharge. Read it on the bill. Almost 200 for an individual, no employees.

But, I'm really unemployed, just not a statistic.

Eff them.

[Porsche-O-Phile]

That blows. $200 for a private self-employed business now? On top of the federal and state crap and the DBA filing and all the rest?

Gawd, why I even consider doing it is beyond me. I still have all my DBA paperwork & fees sitting in my outbox to start my own independent practice - I've been hemming and hawing on it for about 4 months now, being so disgusted with how anti-business CA is. Guess the stuff will sit there a while longer until I either say "screw it, I have nothing to lose, I'm doing it" or I just pack up and go, in which case it won't matter.

[tabs]

Dontcha all worry Super Hero Barry O in his super cape is riding to your rescue with a Stimulus and Budget Bill that is going to bust any recession right in the mouth and well before you can ay Mid Term election the economy will be up an running again at a 3.2% growth rate.

Ohhh cynical me...

The super secret recession zapper weapon is that 5 to 6 Trillion in Short Term non interest bearing accounts that gets itchier and itchier everyday to do something to make money. As soon as the all clear signal is given a vertible avalanch of money is going to be pouring out in a frenzy that will put a Macys bargain day customer stampede to shame.

[Noah930]

Originally Posted by woodman

I heard somewhere that you could fill 7 rose bowls with the number of unemployed.

Heck, you can fill 20% of LA County with those receiving public assistance. That 7 Rose Bowl statistic is nothin' in comparison. At least those on unemployment theoretically are trying to get off that list.

[lendaddy]

Don't sweat it, I have it on good authority that Hugh doesn't mind picking up the slack to help everyone out.

j/k Hugh

I can only imagine what the real numbers in Michigan are right now. I was playing poker with 6 buddies last Saturday night when the topic came up and we realized that four of us were unemployed and all but one of us had never been unemployed before this. This is four out of six guys that were in management positions......it's real bad here.

I would love to be in a position to need talent right now though, man is it a buyers market on good people!

[scottmandue]

So that rose bowl analogy... is that full to a single layer or filled to the brim?

An old school buddy moved to Portland OR. a couple years ago... he talked me into starting a facebook page to keep in touch with him... pretty much he and most of his friends are unemployed. Weird thing is they don't seem to be too concerned about it. They spend most of their day posting on facebook from their iPhones... and these are all middle age people... some with children.

Jeff, when (if) I get my tax return I'm going to be looking for a mechanic to do the belts/water pump on the 944, let me know if you are interested in the job.

[Porsche-O-Phile]

Originally Posted by scottmandue

So that rose bowl analogy... is that full to a single layer or filled to the brim?

An old school buddy moved to Portland OR. a couple years ago... he talked me into starting a facebook page to keep in touch with him... pretty much he and most of his friends are unemployed. Weird thing is they don't seem to be too concerned about it. They spend most of their day posting on facebook from their iPhones... and these are all middle age people... some with children.

Jeff, when (if) I get my tax return I'm going to be looking for a mechanic to do the belts/water pump on the 944, let me know if you are interested in the job.

PM coming your way.

[Hugh R]

Originally Posted by lendaddy

Don't sweat it, I have it on good authority that Hugh doesn't mind picking up the slack to help everyone out.

j/k Hugh

I'm really not that rich. I rant cause I do make a good income and the gubmit denys me just about every write off that people who make 1/2 what I make get to take. I include employee and employer SS mandatory withholdings, which for my wife and I are the max which is $28K and some change. If you think your employer pays their 1/2 of the SS, you don't understand the concept of "Market Clearing Price" that's included in what my employer sees as the cost of employing me.

Add in $30K in federal income taxes, $12,000 to California (Soon to jump by another $1,700 for 2009), Property Taxes of $4,800, vehicle registration tax of $500 (soon to go to $1,000), add in another $3700 for medicaid and disability and you've got about $80,000 in taxes, which is about 52% .

And that doesn't include sales tax of 8.25% sales tax (soon to go to 9.75%), or gas tax and all the utility taxes. Which I'll bet are another $2,000/year.

If I made half as much, all things equal, I'd pay about $5,100 in Federal income taxes, not $40,000! WTF is up with that!

[Porsche-O-Phile]

Problem is, it's not just the liberal voters who set the stage for this who are suffering. Plenty of folks far more fiscally conservative than our legislatures (past and present) have been. Also plenty of morons who believed the "real estate always goes up" hype - and a lot who didn't.

This affects everyone.

[TimT]

Property Taxes of $4,800

That's all?

I pay a hair over 10K property tax for a postage stamp size lot in Nassau County, NY. Property tax includes school taxes

22K federal on +110K income


Time for another Tea Party

[Hugh R]

$10K in property tax for a small plot. Wow! At least we have Prop 13 here which limits the taxes to 1.25% of purchase value with an allowance to raise it 1% in tax amount/year. Liberals here blame Prop 13 for loss of revenue and fiscal crisis here. BS, you should only spend what you get, and the property values here are correctiing, but still high relative to the rest of the country. I have neighbors who have been in their homes for 25 years and pay something like $1500/year, and others across the street with the same house who bought last year that pay closer to $10K.

[BGCarrera32]

Originally Posted by TimT

Time for another Tea Party

Yup. Lock n load.