Housing sector turning the corner; jobs market firming

Comments (19)
tmc wrote:

When will we admit that we are going to continue losing jobs to automation and globalization and actually do something about it? I’m not saying we should try to stop the train. Just that we must admit that we’re on the tracks and step off of them. We need to plan our economy accordingly. But it is not possible to do that within an oligarchy and unbridled capitalism. We’ll just run smack into that train instead.

May 22, 2014 10:06am EDT  --  Report as abuse
gcf1965 wrote:

A well known European based troll said this last week

“All those people added to the payroll? They are not real – the employers are all lying, pretending to have new employees when they don’t. All the new jobs? BLS is lying. Reduced numbers of new signings? The whole damn US population is lying. They want to sign up but don’t do it just to spite Republicans.”

I wonder what the same poster will say this week after the numbers they love so much increased more this week than they decreased last week.

May 22, 2014 10:19am EDT  --  Report as abuse
Randy549 wrote:

We need to “plan the economy accordingly?” I think not. Planned economies have a universally dismal track record; ask the Soviets.

It is *individuals* who need to plan accordingly. Develop your job skills in areas that not anyone off the street can perform. The days of getting high wages for low-skill work, just because you belong to a union, are long-gone. The United States had it really, really good from the 1950′s up until the end of the ’80s, because the rest of the world was either bombed out from World War 2 or completely undeveloped. Unfortunately, the US population grew accustomed to that environment (as any population would), and now the return to “normal” seems like bad times. But it’s really just the return to normal.

May 22, 2014 10:36am EDT  --  Report as abuse
gcf1965 wrote:

I think Randy is correct. We have grown a mindset that turning a wrench (nothing wrong with that) tightening the same nut on the same part for 8 hours for 25 – 30 years is deserving of high wages. It is not, since the supply of labor for that position is abundant. Learn the future, do not be dependent on the past.

May 22, 2014 10:41am EDT  --  Report as abuse
SaveRMiddle wrote:

Troubling. Cut and Paste journalism.

Our mass media continues to use stats to compare this recession to others as it ignores the permanent changes taking place in this great country. These initial claims continue to represent the systematic destruction of many irreplaceable living wage jobs.

The unavoidable repercussions will be passed down – not up.

May 22, 2014 10:51am EDT  --  Report as abuse
mountainrose wrote:

Peak selling season Sales down 6.8% yr over yr . Mtg apps for purchases down 12% last wk, 16% the week before and 21% the week before that, from same weeks previous yr.

May 22, 2014 11:25am EDT  --  Report as abuse
ineeditbad wrote:

I’m so tired of the games…at the expense of the unemployed or at least the middle class citizen working at McDonald’s at minimum wage…just to survive because of immigrants supported by H1B Visas as the country doesn’t have any “qualified” applicants to fill those jobs…Total BS.

May 22, 2014 12:00pm EDT  --  Report as abuse

‘These initial claims continue to represent the systematic destruction of many irreplaceable living wage jobs.’ I have seen no evidence supporting this statement, please provide.

‘When will we admit that we are going to continue losing jobs to automation and globalization and actually do something about it?’

Good point, that is why we need systematic changes to how we approach our economy with relation to the world economy. We need to invest in education and infrastructure for our future. Education allows us to innovate and make the new technologies for the future, while infrastructure allows us to capitalize on these educational improvements.

So then the question becomes, how we will move forward, and it is obvious to me that one of the political parties (yes they both suck, but not equally) at least wants to try and move forward, while another wants to continue with the policies that got us into this mess.

May 22, 2014 12:01pm EDT  --  Report as abuse

I forogt to add, but things are sure A LOT better then 6 years ago.

May 22, 2014 12:02pm EDT  --  Report as abuse
EastBerlin wrote:

We need to stop letting China make everything We buy. We have in the past and we can again in the future make everything needed in the West(Europe, U.S.A.) This will create jobs here. This production by
Americans, for Americans will result in employment for Americans and PROFIT for U.S. company’s. Remember that when you buy goods made by a
company over seas, your money goes to the foreign countries bank, not
ours.

May 22, 2014 12:25pm EDT  --  Report as abuse
tmc wrote:

@Randy549,@gcf1965 first, I always read both your comments. Thanks for participating.
I don’t think all forms of planned economies fail. The Chinese are doing a wonderful job of it and have moved from basically 3rd world status to the number one economy in the world in what, 35-40 years? The Soviets did a lot more than, and actually little real economic planning.

“Develop your job skills in areas that not anyone off the street can perform.” still leaves LOTS of people on the street that can’t compete with automation. You can’t take a assembly line worker with a 100 IQ and make a Nano technology specialist out of him, or a doctor, or a computer programmer. Automation is removing jobs and the human race is still adding people that need jobs.
I’m sorry but I think your answer is merely saying “I don’t care because the train won’t hit ME or a few other very smart people.”
Yes, we need to plan for jobs disappearing faster than donuts in a police station.

May 22, 2014 12:47pm EDT  --  Report as abuse
SaveRMiddle wrote:

For USAPrag

This article contains 2 BLS graphs.

http://www.bloomberg.com/news/2014-05-21/no-recovery-for-workers-in-the-middle-.html

May 22, 2014 1:08pm EDT  --  Report as abuse
gcf1965 wrote:

East, I don’t it is that easy in what is truly a global economy with global markets. But I do think that domestic manufacturing is important. I see the problem as being with the way we have decided to raise the next generation. Our society has taught kids to be content and proud of themselves, no matter how little they actually achieve. We have a generation of youth that are more interested in sending “selfies” and playing video games rather than understanding and developing the technology that makes these things possible. We have become such a consumer motivated society, we have forgotten what it takes to produce and the rewards of actually producing.

May 22, 2014 1:17pm EDT  --  Report as abuse
EastBerlin wrote:

What would be so hard about making Levi’s in the US again? Make a list of the American Brands and American items that were made here in the US and are now made elsewhere. If we build the factory,( or just re-open the closed ones) workers will come for the jobs. The major company’s in the US need to stop giving employment to foreign people
in foreign countries and put Americans back to work.

May 22, 2014 1:48pm EDT  --  Report as abuse
mohsenmirab wrote:

Housing usually picks up during the summer season and I think it will be the same this year ; however once the season has passed then it will come tumbling down. As far as the job market is concerned ,well this is just pure propaganda.

May 22, 2014 2:40pm EDT  --  Report as abuse
gcf1965 wrote:

Why is this story changing so much through the day? Even he headline is far more glamorous than earlier today. Before they gave the job numbers showing claims increased 28,000, more than expected and more than the numbers decreased last week. So with last week’s “great” numbers, and now the “jobs market firming” numbers this week, we are at a “net” increase over these 2 weeks that Reuters has been saying things are getting better.

May 22, 2014 2:49pm EDT  --  Report as abuse
divinargant wrote:

The housing sector is turning the corner since nearly a third of all sales are all cash. Now this may catch the eye of the novice as being a very positive Reuters, but hey..come on now..all this means is that firms such as Blackstone are the biggest landlord on the block now..and what happens when these mega block purchasers go away? Housing for the average person is still in a slump and the only place you can say is stable is the top end. Anyone who knows anything about this knows that much.

May 22, 2014 3:29pm EDT  --  Report as abuse
YRaj wrote:

“The inventory of unsold homes on the market increased 6.5 percent from a year-ago to 2.29 million in April”
How is that a positive sign? Increased supplies of home on the market is not a positive sign.

May 22, 2014 3:47pm EDT  --  Report as abuse
echtogammut wrote:

I cannot speak for other markets, but in the Bay Area the majority of homes are being bought by investment groups, not individuals. I am very curious how this is going to play into the long term viability of the housing market. I have seen numerous bidding wars between “investors” who drive the price way above what a individual buyer can afford. Some of these are being bought by investors looking to “flip” the property, but no matter how many times I run the numbers I can’t see how they expect to make money off them. The rental investors seem to have a better case, but current rental prices don’t seem to reflect the average salary. I can’t help but think we are setting ourselves up for another financial collapse.

May 22, 2014 4:33pm EDT  --  Report as abuse
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