Jobs vanish, unemployment drops … WTF?

[EconProf]

Unemployed lawyers desparately seeking work?
Ah, another blessing of this recession.

[Coronita]

[quote=partypup]The government is lying. Period. There is desperation out there.

I have had to hire an attorney in my dept three times in the past 7 years: 2006, 2008 and now, 2010. In 2006 and 2008, HR sent me a decent number of resumes, a few from top-notch schools.

We posted the VP position in my dept last week, and oh my, how times have changed. Half of the resumes I received are from lawyers who have been practicing 5-7 years longer than I have. Even getting Ivy League paper now. Tons of former law firm types in their 7th or 8th years, displaced “of counsel” types, and attorneys who’s employment suddenly ended around December of last year. The position pays 140K, so definitely not a fortune. But I am getting resumes from attorneys who surely make – or recently made, based on their work history – 250K+ a year. Moreover, EVERY Tom, Dick and Harry is emailing me resumes from their friends and neighbors. It’s creepy because it’s never happened before.

If you can’t see what’s happening, you’re not paying attention. I know this is a housing forum, but my God, who in their right mind can possibly think of investing in real estate now when the stench of unemployment is so great around us?[/quote]

Partypup, I think you are confirming what folks I know have been saying. A few weeks ago, met a few colleagues who are attorneys at large firms in OC. The attorneys were saying that with the exception of firms that specialize in BK and divorces, business is considerably slow…And associates that were once making $150k+ were being asked to take take salary cuts too sub-$100k, or to leave.

The outlook in techie land looks really mixed. Some areas seem to be recovering and growing while others are on life support. Chip companies+associated software systems to them seem to be turning around and hiring… Defense engineers are just getting hammered right now. A lot of shutdowns, relocating offices to Virginia or new DC, consolidation,etc. I.T. work is mixed…

There are companies with vacant positions and looking to hire, BUT the caveat is companies want people to be able to fit in right away with minimal training. That poses a problem. (1) We see a lot of resumes with good skills but don’t match and (2) folks with matching skillsets are leery to move to another company at this point, for fear of being the new guy that gets axed if things to work out. IMHO that’s why I think you see a lot of positions open but not being filled. These aren’t phantom positions.
The other thing is outsourcing overseas is not being the issue these days. The issue is companies are more reluctant to hire full time folks in general with an uncertain economy…instead just hire contractors with short term contracts that are regularly renewed.

[Coronita]

[quote=partypup]The government is lying. Period. There is desperation out there.

I have had to hire an attorney in my dept three times in the past 7 years: 2006, 2008 and now, 2010. In 2006 and 2008, HR sent me a decent number of resumes, a few from top-notch schools.

We posted the VP position in my dept last week, and oh my, how times have changed. Half of the resumes I received are from lawyers who have been practicing 5-7 years longer than I have. Even getting Ivy League paper now. Tons of former law firm types in their 7th or 8th years, displaced “of counsel” types, and attorneys who’s employment suddenly ended around December of last year. The position pays 140K, so definitely not a fortune. But I am getting resumes from attorneys who surely make – or recently made, based on their work history – 250K+ a year. Moreover, EVERY Tom, Dick and Harry is emailing me resumes from their friends and neighbors. It’s creepy because it’s never happened before.

If you can’t see what’s happening, you’re not paying attention. I know this is a housing forum, but my God, who in their right mind can possibly think of investing in real estate now when the stench of unemployment is so great around us?[/quote]

Partypup, I think you are confirming what folks I know have been saying. A few weeks ago, met a few colleagues who are attorneys at large firms in OC. The attorneys were saying that with the exception of firms that specialize in BK and divorces, business is considerably slow…And associates that were once making $150k+ were being asked to take take salary cuts too sub-$100k, or to leave.

The outlook in techie land looks really mixed. Some areas seem to be recovering and growing while others are on life support. Chip companies+associated software systems to them seem to be turning around and hiring… Defense engineers are just getting hammered right now. A lot of shutdowns, relocating offices to Virginia or new DC, consolidation,etc. I.T. work is mixed…

There are companies with vacant positions and looking to hire, BUT the caveat is companies want people to be able to fit in right away with minimal training. That poses a problem. (1) We see a lot of resumes with good skills but don’t match and (2) folks with matching skillsets are leery to move to another company at this point, for fear of being the new guy that gets axed if things to work out. IMHO that’s why I think you see a lot of positions open but not being filled. These aren’t phantom positions.
The other thing is outsourcing overseas is not being the issue these days. The issue is companies are more reluctant to hire full time folks in general with an uncertain economy…instead just hire contractors with short term contracts that are regularly renewed.

[Coronita]

[quote=partypup]The government is lying. Period. There is desperation out there.

I have had to hire an attorney in my dept three times in the past 7 years: 2006, 2008 and now, 2010. In 2006 and 2008, HR sent me a decent number of resumes, a few from top-notch schools.

We posted the VP position in my dept last week, and oh my, how times have changed. Half of the resumes I received are from lawyers who have been practicing 5-7 years longer than I have. Even getting Ivy League paper now. Tons of former law firm types in their 7th or 8th years, displaced “of counsel” types, and attorneys who’s employment suddenly ended around December of last year. The position pays 140K, so definitely not a fortune. But I am getting resumes from attorneys who surely make – or recently made, based on their work history – 250K+ a year. Moreover, EVERY Tom, Dick and Harry is emailing me resumes from their friends and neighbors. It’s creepy because it’s never happened before.

If you can’t see what’s happening, you’re not paying attention. I know this is a housing forum, but my God, who in their right mind can possibly think of investing in real estate now when the stench of unemployment is so great around us?[/quote]

Partypup, I think you are confirming what folks I know have been saying. A few weeks ago, met a few colleagues who are attorneys at large firms in OC. The attorneys were saying that with the exception of firms that specialize in BK and divorces, business is considerably slow…And associates that were once making $150k+ were being asked to take take salary cuts too sub-$100k, or to leave.

The outlook in techie land looks really mixed. Some areas seem to be recovering and growing while others are on life support. Chip companies+associated software systems to them seem to be turning around and hiring… Defense engineers are just getting hammered right now. A lot of shutdowns, relocating offices to Virginia or new DC, consolidation,etc. I.T. work is mixed…

There are companies with vacant positions and looking to hire, BUT the caveat is companies want people to be able to fit in right away with minimal training. That poses a problem. (1) We see a lot of resumes with good skills but don’t match and (2) folks with matching skillsets are leery to move to another company at this point, for fear of being the new guy that gets axed if things to work out. IMHO that’s why I think you see a lot of positions open but not being filled. These aren’t phantom positions.
The other thing is outsourcing overseas is not being the issue these days. The issue is companies are more reluctant to hire full time folks in general with an uncertain economy…instead just hire contractors with short term contracts that are regularly renewed.

[Coronita]

[quote=partypup]The government is lying. Period. There is desperation out there.

I have had to hire an attorney in my dept three times in the past 7 years: 2006, 2008 and now, 2010. In 2006 and 2008, HR sent me a decent number of resumes, a few from top-notch schools.

We posted the VP position in my dept last week, and oh my, how times have changed. Half of the resumes I received are from lawyers who have been practicing 5-7 years longer than I have. Even getting Ivy League paper now. Tons of former law firm types in their 7th or 8th years, displaced “of counsel” types, and attorneys who’s employment suddenly ended around December of last year. The position pays 140K, so definitely not a fortune. But I am getting resumes from attorneys who surely make – or recently made, based on their work history – 250K+ a year. Moreover, EVERY Tom, Dick and Harry is emailing me resumes from their friends and neighbors. It’s creepy because it’s never happened before.

If you can’t see what’s happening, you’re not paying attention. I know this is a housing forum, but my God, who in their right mind can possibly think of investing in real estate now when the stench of unemployment is so great around us?[/quote]

Partypup, I think you are confirming what folks I know have been saying. A few weeks ago, met a few colleagues who are attorneys at large firms in OC. The attorneys were saying that with the exception of firms that specialize in BK and divorces, business is considerably slow…And associates that were once making $150k+ were being asked to take take salary cuts too sub-$100k, or to leave.

The outlook in techie land looks really mixed. Some areas seem to be recovering and growing while others are on life support. Chip companies+associated software systems to them seem to be turning around and hiring… Defense engineers are just getting hammered right now. A lot of shutdowns, relocating offices to Virginia or new DC, consolidation,etc. I.T. work is mixed…

There are companies with vacant positions and looking to hire, BUT the caveat is companies want people to be able to fit in right away with minimal training. That poses a problem. (1) We see a lot of resumes with good skills but don’t match and (2) folks with matching skillsets are leery to move to another company at this point, for fear of being the new guy that gets axed if things to work out. IMHO that’s why I think you see a lot of positions open but not being filled. These aren’t phantom positions.
The other thing is outsourcing overseas is not being the issue these days. The issue is companies are more reluctant to hire full time folks in general with an uncertain economy…instead just hire contractors with short term contracts that are regularly renewed.

[Coronita]

[quote=partypup]The government is lying. Period. There is desperation out there.

I have had to hire an attorney in my dept three times in the past 7 years: 2006, 2008 and now, 2010. In 2006 and 2008, HR sent me a decent number of resumes, a few from top-notch schools.

We posted the VP position in my dept last week, and oh my, how times have changed. Half of the resumes I received are from lawyers who have been practicing 5-7 years longer than I have. Even getting Ivy League paper now. Tons of former law firm types in their 7th or 8th years, displaced “of counsel” types, and attorneys who’s employment suddenly ended around December of last year. The position pays 140K, so definitely not a fortune. But I am getting resumes from attorneys who surely make – or recently made, based on their work history – 250K+ a year. Moreover, EVERY Tom, Dick and Harry is emailing me resumes from their friends and neighbors. It’s creepy because it’s never happened before.

If you can’t see what’s happening, you’re not paying attention. I know this is a housing forum, but my God, who in their right mind can possibly think of investing in real estate now when the stench of unemployment is so great around us?[/quote]

Partypup, I think you are confirming what folks I know have been saying. A few weeks ago, met a few colleagues who are attorneys at large firms in OC. The attorneys were saying that with the exception of firms that specialize in BK and divorces, business is considerably slow…And associates that were once making $150k+ were being asked to take take salary cuts too sub-$100k, or to leave.

The outlook in techie land looks really mixed. Some areas seem to be recovering and growing while others are on life support. Chip companies+associated software systems to them seem to be turning around and hiring… Defense engineers are just getting hammered right now. A lot of shutdowns, relocating offices to Virginia or new DC, consolidation,etc. I.T. work is mixed…

There are companies with vacant positions and looking to hire, BUT the caveat is companies want people to be able to fit in right away with minimal training. That poses a problem. (1) We see a lot of resumes with good skills but don’t match and (2) folks with matching skillsets are leery to move to another company at this point, for fear of being the new guy that gets axed if things to work out. IMHO that’s why I think you see a lot of positions open but not being filled. These aren’t phantom positions.
The other thing is outsourcing overseas is not being the issue these days. The issue is companies are more reluctant to hire full time folks in general with an uncertain economy…instead just hire contractors with short term contracts that are regularly renewed.

[outtamojo]

“Like Mish predicts, once hiring turns around, the unemployment rate will skyrocket. This will be because of the 2 million or so who are not counted as unemployed currently will start looking again.”

So under this scenario, will the life of the average American be better or worse when the numbers “skyrocket”?

[outtamojo]

“Like Mish predicts, once hiring turns around, the unemployment rate will skyrocket. This will be because of the 2 million or so who are not counted as unemployed currently will start looking again.”

So under this scenario, will the life of the average American be better or worse when the numbers “skyrocket”?

[outtamojo]

“Like Mish predicts, once hiring turns around, the unemployment rate will skyrocket. This will be because of the 2 million or so who are not counted as unemployed currently will start looking again.”

So under this scenario, will the life of the average American be better or worse when the numbers “skyrocket”?

[outtamojo]

“Like Mish predicts, once hiring turns around, the unemployment rate will skyrocket. This will be because of the 2 million or so who are not counted as unemployed currently will start looking again.”

So under this scenario, will the life of the average American be better or worse when the numbers “skyrocket”?

[outtamojo]

“Like Mish predicts, once hiring turns around, the unemployment rate will skyrocket. This will be because of the 2 million or so who are not counted as unemployed currently will start looking again.”

So under this scenario, will the life of the average American be better or worse when the numbers “skyrocket”?

[outtamojo]

“You got that right. In 5-10 years, when the decaying suburbs turn to squalor shanty towns and domestic insurgencies flare up in the south, talking heads on cable, if you still have it, will be saying how much better it is than in 2000.”

Gosh if this were my outlook on the future I would be busy fortifying my bunker in Montana rather than wasting my time on a San Diego real estate forum.

[outtamojo]

“You got that right. In 5-10 years, when the decaying suburbs turn to squalor shanty towns and domestic insurgencies flare up in the south, talking heads on cable, if you still have it, will be saying how much better it is than in 2000.”

Gosh if this were my outlook on the future I would be busy fortifying my bunker in Montana rather than wasting my time on a San Diego real estate forum.

[outtamojo]

“You got that right. In 5-10 years, when the decaying suburbs turn to squalor shanty towns and domestic insurgencies flare up in the south, talking heads on cable, if you still have it, will be saying how much better it is than in 2000.”

Gosh if this were my outlook on the future I would be busy fortifying my bunker in Montana rather than wasting my time on a San Diego real estate forum.

[outtamojo]

“You got that right. In 5-10 years, when the decaying suburbs turn to squalor shanty towns and domestic insurgencies flare up in the south, talking heads on cable, if you still have it, will be saying how much better it is than in 2000.”

Gosh if this were my outlook on the future I would be busy fortifying my bunker in Montana rather than wasting my time on a San Diego real estate forum.

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