Comments on: Georgia’s Unemployment Hits 7%

By: Vic

Vic — Fri, 21 Nov 2008 05:36:25 +0000

Unregulated Credit Default Swaps are causing the explosion in the unemployment rate. The potential liability is over $55 “T”rillion dollars and thanks to creative accountants, you didn’t hear about them til they rared up and bit ya…

By: Doug Deal

Doug Deal — Fri, 21 Nov 2008 03:46:02 +0000

joe,

That has been a thought I have had as well. It is untested, but I would like someone to examine the consequences of raising the minimum wage on unemployment.

By: joe

joe — Fri, 21 Nov 2008 03:03:46 +0000

atlantaman,

We had a recent increse in the minimum wage. Unemployment is up. Suprised?

By: atlantaman

atlantaman — Fri, 21 Nov 2008 01:53:38 +0000

If people are working for lower wages, doesn’t that lower the cost of everything making it more affordable for those on lower wages?

By: Vic

Vic — Thu, 20 Nov 2008 21:46:53 +0000

you guys aren’t going to get it until your children and grandchildren end up working for third world wages…

By: atlantaman

atlantaman — Thu, 20 Nov 2008 20:51:58 +0000

“Some might shed a tear that someone would work 12 to 14 hours a day and not have enough money to buy a house”

Um, if you can build a house cheaply, because the cost of labor is down, wouldn’t that make home ownership still attainable?

How much money you make is irrelevant, how much you can buy with what you make is what’s important.

By: tinsandwich

tinsandwich — Thu, 20 Nov 2008 20:30:25 +0000

Bird,

I am horrified that you would not drink bourbon like a proper southern gentleman! Now if we can just get this damn daylight thing resolved, people could work 14 to 18 hours a day (by candle light!)

By: bird

bird — Thu, 20 Nov 2008 20:21:07 +0000

This is great! I think me and some of my wealthy friends are each going to build a Biltmore-style mansion now in Florida. I’ll get new lower cost workers to do the work and pay them practically nothing.

Some might shed a tear that someone would work 12 to 14 hours a day and not have enough money to buy a house, obtain healthcare or enjoy even a minimally decent standard of living, but not me! I’m too busy drinking scotch and evading taxes!

By: tinsandwich

tinsandwich — Thu, 20 Nov 2008 20:11:57 +0000

Yep. Workers are now a whole lot cheaper since things have gone south!

I had a couple of workers, of the latin persuasion, painting the other day for half the price someone quoted me last summer. (not to imply that they were illegal) None of the workers spoke English. When I paid the gentlemen at the end of the day, the one that spoke a little engish took out a couple of twenties and paid everyone else (maybe around $40 )

$40 for a whole day of work, sun up to sun down! Or at least untill my flood lights went off!

By: Rick Day

Rick Day — Thu, 20 Nov 2008 18:49:51 +0000

I guess I can now pay less for labor since supply and demand work in human resources as well. Free Market forces for the win!

I get about an email a day from someone I know asking about casual work here….glad I’m a boss and not a grunt.