Friday, April 3, 2009

The Housing Trainwreck From Yet Another Angle

According to the Bureau of Labor Statistics, the increase in unemployment in the architecture and engineering occuptions has doubled from 2007 to 2008! This is roughly 4 times the average change in unemployment for all people aged 16 and over, which was 26.1% at the end of 2008. This statistic was relevant when total unemployment was 5.8%. With today's reading of 8.5% unemployment, all bets are off as to what on earth is going on in the U.S. labor market.

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8 comments:

Broken said...

The scary part to me is that managers outnumber architects and engineers by 11:1, finance professionals outnumber architects and engineers by 2:1.

James said...

Its amazing how many people think the financial system is stabilized

TraderMark said...

Half this report is fiction, which is scary. 12.5% would be the unemployement rate as measured pre 1992 "adjustments"

the birth death model added 110K+ jobs i.e. we'd be at 800K even with the misinformation

more details here

http://www.fundmymutualfund.com/2009/04/real-march-unemployment-reaches-125.html

Tyler man... we are moving to a seemless economy. No laborers. Just another cost and impairment to profits.

What's not to love???

(oh yeh we need some people left to actually buy products I suppose)

TraderMark said...

hyperlink added - try again

Lies. Lies. And more Damn Lies

Anonymous said...

To be fair, isn't this a positive distant future indicator for housing? lack of new supply, population growth, and accessible credit are the three factors that will lead to a long term recovery of housing.

I'm certainly not buying homebuilders on this data, but this tells me that the supply of new housing is completely and utterly dead. More dead then I would have expected and a positive indicator for at least the second derivative of the housing market.

Anonymous said...

Young Americans are smart enough not choose STEM career, because cheap H1/L1 import suppress the STEM wages.

"American worker replacement that has been ongoing for 20 years. Let's have a look at the figures from the State Department website today.
Visas that are used to place workers from abroad in professional positions include: H-1B, H-1B1, TN, E-3, L-1, and J-1.

Total visas issued in these categories from years 1989 through 2008: 7,053,656.

This means that, if the visas were used to push Americans out of the job market in the STEM fields, the way they are commonly being used today, then up to 7 million US workers have already been forced to leave their professions since 1989 and take other jobs."

http://www.dailykos.com/storyonly/2009/3/27/135839/256

Anonymous said...

Young Americans are smart enough not choose STEM career, because cheap H1/L1 import suppress the STEM wages.

"American worker replacement that has been ongoing for 20 years. Let's have a look at the figures from the State Department website today.
Visas that are used to place workers from abroad in professional positions include: H-1B, H-1B1, TN, E-3, L-1, and J-1.

Total visas issued in these categories from years 1989 through 2008: 7,053,656.

This means that, if the visas were used to push Americans out of the job market in the STEM fields, the way they are commonly being used today, then up to 7 million US workers have already been forced to leave their professions since 1989 and take other jobs."

http://www.dailykos.com/storyonly/2009/3/27/135839/256

chrispycrunch said...

Thorough research. If architects are not getting hired then there is nothing to build..first things first is to reduce inventory in commercial and in homes available