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Unemployment in the Triangle took a surprise drop last month. According to the experts, this area is "recession proof". I am not quite sure what they mean by that, but I am assuming they mean we may feel some pain, but would probably not fall into a recession when other parts of the country do. They may adjust that statement should the country end up in a depression.
If you look at the article, it's not a surprise. This is a normal seasonal variation with, as the article says, "more teachers returning to school and more students ages 16-19 heading back to class and out of the job market".
This happens pretty much every year at this time - there have only been 3 out of the last 19 years where unemployment has gone up from Jul to Aug, so for it not to go up this month is pretty normal.
Compare the 5.4% to last year's 3.5% number to see the trend. And notice that this year's number is tied for the second worst August on record, losing only to the 2002 and tying the 2003 numbers. Of course, the country was in the middle of a recession then, so if you believe the experts maybe those historical numbers from the recession didn't really happen in this "recession proof" area?
Sure, the numbers aren't horrible in an absolute sense (unless you're one of the 5.4%), but you have to compare it to the past to get any sense of how good or bad the numbers are. Anyone want a repeat of the 2002-2003 job market here? The numbers are lining up with that part of our "recession proof" history.
If you look at the article, it's not a surprise. This is a normal seasonal variation with, as the article says, "more teachers returning to school and more students ages 16-19 heading back to class and out of the job market".
This happens pretty much every year at this time - there have only been 3 out of the last 19 years where unemployment has gone up from Jul to Aug, so for it not to go up this month is pretty normal.
Compare the 5.4% to last year's 3.5% number to see the trend. And notice that this year's number is tied for the second worst August on record, losing only to the 2002 and tying the 2003 numbers. Of course, the country was in the middle of a recession then, so if you believe the experts maybe those historical numbers from the recession didn't really happen in this "recession proof" area?
Sure, the numbers aren't horrible in an absolute sense (unless you're one of the 5.4%), but you have to compare it to the past to get any sense of how good or bad the numbers are. Anyone want a repeat of the 2002-2003 job market here? The numbers are lining up with that part of our "recession proof" history.
I think the experts are suggesting that we are much more diversified here now than in 2001-2003. That was a dot.com burst. I would never go so far as to say we are recession proof here, but the experts did. I would think that if the country as a whole went deep enough into a recession or depression, then we would eventually end up in a recession. The good news is and what I believe what the experts are trying to get across, is that we are lucky enough to be in one of the better places in the country during this economic meltdown. I would have to agree with that. We have felt much less pain here than other parts of the country. Let's hope the national situation recovers soon, before they eventually pull us down with them.
I moved here about this time last year, and I'm currently looking to change jobs. When I compare the number of posted openings to last year, it's way way down. I'd say on the order of 1/10th the number of posting I was finding last year. The company I work for just lost a big job, so we may end up moving on...probably head back up north were there are more opportunities...
I am 33, Software QA Engineer moving to Raleigh. I am wondering if it is possible to find job there at this time. Please let me know where is the best place to live. I am looking for a house near everything (job,shopping,restaurants).
Where is great high tech sector in the Raleigh located.
I think the experts are suggesting that we are much more diversified here now than in 2001-2003. That was a dot.com burst. I would never go so far as to say we are recession proof here, but the experts did. I would think that if the country as a whole went deep enough into a recession or depression, then we would eventually end up in a recession. The good news is and what I believe what the experts are trying to get across, is that we are lucky enough to be in one of the better places in the country during this economic meltdown. I would have to agree with that. We have felt much less pain here than other parts of the country. Let's hope the national situation recovers soon, before they eventually pull us down with them.
If we're a lot more diversified, it's only helped a little bit. During the peak of the 2002-2003 recession, unemployment maxed out at 6% several times. So far right now during the current non-recession, it's been as high as 5.5%. I think that's a hint that something is going on, but it's possible that the stats are wrong or different this time.
And this area is pretty close to average as far as unemployment rates go, according to the US Department of Labor (Unemployment Rates for Metropolitan Areas). The national average is 6%, we're at 5.4% this month, and in a 12 way tie for 153rd best out of 369 MSAs stats are kept for. This puts the area on a level with Poughkeepsie, NY, Minneapolis-St. Paul, MN, Reading, PA, and even NY city. It's not bad to be in the top half of the nation, but nothing to make this area stand out compared to the 140-something cities with lower unemployment rates.
I love it here. Tons of job opportunities, tons of places to shop, and lots of stuff I haven't even had time to go visit yet.
this is my first time logging in, can anyone tell me how to begin?
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looking to relocate from norh jersey
