How many unemployed do you know?

[DHOHHI]

Quote from Clubber Lang:

ZERO, and it's been like that throughout this mythical "worst recession in 70 years".

The media really did their best to scare the shit out of everyone and got alot of average working class people to dump their 401k's and stocks at the lows (to Goldman Sachs).

Even better is the fact that a couple of trader friends who blew out over the last year had no problem finding decent paying white collar jobs.

I'm in the NYC area.

Better deal with reality. The unemployment figures are not "mythical". I know people making $400K to $500K a year who have been looking for 1-2 years for a job paying $75 to $100K. Job losses have been in white collar and blue collar. I see people losing homes they paid $1.5 million for that the bank is unloading for $700K. I live in an affluent area and also volunteer and tutor in a lower income area. The job losses are in all areas.

True unemployment, including those who give up looking and those working part time, will reach 20% in the next 3-6 months. It's at 17% now.

I'm thankful I've been a trader the past 14 years. I'd hate to be out there looking for a decent job now.

 

[Nanook]

A buddy (degreed IT specialist in Portland, OR area) just got laid off a week ago on Wednesday.
Brother-in-law (union carpenter in Denver, Co area) recently laid off.
Girlfriend's son in CA (recent grad and newly employed in electronics field) laid off.

 

[spinn]

Im in an affluent part of Washington Dc and nobody here seems to be laid off and the malls and restaurants are usually packed.......

full employment in this area is probaly a bad thing as my area is infested with DRS and lawyers.....

 

[Son of a Gann]

Quote from Clubber Lang:

ZERO, and it's been like that throughout this mythical "worst recession in 70 years".

The media really did their best to scare the shit out of everyone and got alot of average working class people to dump their 401k's and stocks at the lows (to Goldman Sachs).

Even better is the fact that a couple of trader friends who blew out over the last year had no problem finding decent paying white collar jobs.

I'm in the NYC area.

Please tell me which companies are hiring traders that cannot trade.

Most of the traders are uneducated losers without any degree and any office work experience.

 

[Mercor]

.The September teen unemployment rate hit 25.9%, the highest rate since World War II and up from 23.8% in July. Some 330,000 teen jobs have vanished in two months. Hardest hit of all: black male teens, whose unemployment rate shot up to a catastrophic 50.4%. It was merely a terrible 39.2% in July.

Unemployment among college grads is 4.9%

 

[Clubber Lang]

Quote from Son of a Gann:

Please tell me which companies are hiring traders that cannot trade.

Most of the traders are uneducated losers without any degree and any office work experience.

One is selling insurance and the other I have no idea what he does, but it's your basic suit and tie/office cubicle thing (not in finance).

I disagree with the "most traders are uneducated losers" part, but do agree that most have zero office work experience.

 

[Full Tilt]

Quote from spinn:

Im in an affluent part of Washington Dc and nobody here seems to be laid off and the malls and restaurants are usually packed.......

full employment in this area is probaly a bad thing as my area is infested with DRS and lawyers.....

there's a fucking shock. DC humming along with JC, Pelosi and Reid running the show- remember: big government is always the solution.

as for me: don't know anyone, and nobody i know knows anyone with the except of me- i have some young urban black kids (18- early 20's) who have countless friends without jobs- well, none that are legal and on the grid... (oh, and before someone throws in the obligatory PC correction of black to 'African American'... wrong. white people, Jesse Jackson and the like use that term- urban black kids don't. in fact, they very rarely use black- it's another term that is used 99.999% of the time)

i think ET is a poor polling place for such a question. the socioeconomic class most impacted is not the one most traders are well connected to

 

[Son of a Gann]

Quote from Clubber Lang:

One is selling insurance and the other I have no idea what he does, but it's your basic suit and tie/office cubicle thing (not in finance).

I disagree with the "most traders are uneducated losers" part, but do agree that most have zero office work experience.

Trading is very appealing to uneducated people.

My wife works for a mortgage bank that laid off about 8,000 out of 11,000.
One of them that I personally know lost a 53K paying job and found 68K at Kaiser.

 

[asiaprop]

is this an opening for Gann Analysts? ;-)

Quote from Son of a Gann:

Los Angeles

One had his hours cut by third
Second went from 210K to 90K
Third from 65K to 50K

We have an opening at for a Business analyst position so far in about a week as of yesterday over 110 resumes were received.

 

[TraDaToR]

One friend lost her job in a computer software company in Singapore, she came back to France and found a new job.

My uncle is working at Caterpillar in Grenoble, France. There have been some layoffs last year but finally they just reduced his working hours.

That's all.