How high will the TN unemployment rate rise? (bank, numbers)

[Tony1790]

Originally Posted by hiknapster

Well, it wasn't like you weren't warned, Tony.

It really depends on where you live. As of August, which is the last time Tennessee released its county figures, Knoxville's rate was 5.4. At the same time, Johnson City was 6.1.

Looking at that website, I can't find anything discussing rates, but to say that Tennessee is about to "crash" or suffering the most I find to be truly bizarre.

Do you know how bad things are in parts of Florida or The Midwest?

We discussed this not too long ago. Many areas of Tennessee have been depressed for years. But if you don't have a job in Knoxville there is something really wrong. It may not be what you want, but you can always temporarily pick up a job.

You might be interested in reading this thread.

https://www.city-data.com/forum/tenne...ent-rates.html

http://www.tennessee.gov/labor-wfd/l...2008county.pdf

Actually the unemployment rate is pretty good in Knoxville, but it rose .2% from Aug 08 to Sep 08 and that was the point of the article. It's the speed of the rise in unemployment for TN that is worrisome. And yes FL is a heckhole that should be falling more than beautiful TN

As far as jobs, there are plenty where I work, they pay dirt and work ya like a dog, so people keep quitting, keeps me employed though

How's the hubby's business doing? I'm sure it's good, everyone needs a mechanic, I wish I were closer, I need to find a good one myself.

Tony

[Tony1790]

Originally Posted by JMT

Yes, you can post other web sites on here. Don't you read other posts and see web sites listed? They can't be competitors to city-data. Media web sites can be posted. If you had done more than just pop in every now and then to tell everyone how miserable your life is, you might have noticed that.

I went to itulip and did a search for "Tennessee" and NOTHING came up about Tennessee's economy being the fastest-crashing in the country. And if it was "voted" as having the fastest-crashing economy as you claimed, who exactly did the voting? I find it incredibly hard to believe that Tennessee's economy is worse than Florida's, Michigan's, or Ohio's.

You're getting hysterical that some counties in Tennessee have extremely high unemployment rates. Yes, that's the case, and it's very sad for people in those counties who want jobs, but did you see where those counties are located or how small their populations are? If a big county like Knox or Sullivan were to have a 16% unempoyment rate, that would be cause for alarm.

As hik pointed out, Knox County's unemployment rate is pretty low, and by most economists' standards we're at full employment here. Anyone who really wants a job can find one here. It doesn't mean everyone can find their ideal job that pays a fortune to stand around not doing anything, but when is that ever the case?

It's a free country where people are free to move around and go to where the jobs are. Of course, people are also free to go on hysterical rants, too.

Unemployment by industry: Recession or depression? - Eric Janszen - iTulip.com Forums

Thanks for the kind words

Right there on the front page, shows TN with the 3rd highest rate of change(increase) in the rate of unemployment. Sept 07 our unemployement rate was historically low at 4.9 now it's 7.2, that a 2.3% rise in a year, pretty good jump with projects of 11% by this time next year, we'll see.

Yeah it's a free country and people can do whatever they want to do, they can be a jerk or move or share stuff on a public forum or whatever.

As to Hysterical, a recession is when your neighbor loses their job, a depression is when you lose yours. So when the wife is laid off here in TN, when Eastman announces lay offs in TN, when most of the contractors that I know are begging for work here in TN, when the state of TN is laying off up to 2000 people, when city of Johnson City has hiring freeze, when the other TN cities, TN counties are no longer hiring, when the financial system of the country is melting down with TN banks either going broke or getting bailed out, when people that I speak with here in TN have lost half of their retirement accounts ($50,000 losses and up) I dunno, maybe in a free country it'd be nice to be able to post something without being labeled, but hey it's free, knock yourself out, or just don't read my post....there's an idea.

TN has wonderful people, beautiful scenery, some good deals on real estate (along with high priced ones too), fairly low taxes (except for food), a good road system with little traffic (at least in Johnson City), a good higher education system that is cheap and available (one of the reasons I'm here going to school), but a thriving economy with high paying jobs is not one of the major strong points of the area (east TN at least).

I'm sorry if I'm not all sunshine, I post what I think and I think I'm fair. I've lived all over the country and been from the north pole to the south pole (military) and I've seen real hell holes and some great places. I have my points of view and pet peeves (economics and ability to thrive) are mine, some focus more on the intangible. I think having a wee bit of a different point of view on here is a valid and important component of free speech. It's nice reading all the posts that say TN is great (it is) but it does have economic "issues" and no, not everyone should "just move here" it'll be ok, sometimes it isn't.

Take what I say with a grain of salt, jeesh. Happy Veterans day.

Tony (retired military)

[Tony1790]

Originally Posted by INTN

Tony do you have a link to the article stating that TN was the fastest crashing?

Housing Bubble Correction Update: Here comes the jobs crash (Part I) - iTulip.com Forums

I forgot, here the link that shows TN with the fastest crashing economy.

[hiknapster]

It seems that I was the queen of doom and gloom a year ago. I told everyone that all of this would happen and I was often met with hostility, disbelief and condescension.

Now it seems like you think we all lied to you.

The fact is that there are little hollers and towns where employment options were dismal for decades. In the big cities we never had a bubble with employment or housing so how the heck can there be a crash?

You have lots of money in the bank. Pick up the pieces and move to where you think your salary will be better. You could move to Massachusetts, for instance. Great pay in the medical community, there, but a starter house is going to set you back $350,000 near the Boston area.

How are we doing? Great. We have a beautiful home. Two fireplaces. Twenty-three trees on the lot. We just bought a beautiful new dining table. My husband spent $900 on a camera with accessories. Best birthday I ever had.

That's a far cry from living in a shack (literally) in Florida.

Here's the secret. Buy when everyone is selling. Sell when everyone is buying.

And Happy Veteran's Day.

[kar]

Originally Posted by hiknapster

It seems that I was the queen of doom and gloom a year ago. I told everyone that all of this would happen and I was often met with hostility, disbelief and condescension.

Now it seems like you think we all lied to you.

The fact is that there are little hollers and towns where employment options were dismal for decades. In the big cities we never had a bubble with employment or housing so how the heck can there be a crash?

You have lots of money in the bank. Pick up the pieces and move to where you think your salary will be better. You could move to Massachusetts, for instance. Great pay in the medical community, there, but a starter house is going to set you back $350,000 near the Boston area.

How are we doing? Great. We have a beautiful home. Two fireplaces. Twenty-three trees on the lot. We just bought a beautiful new dining table. My husband spent $900 on a camera with accessories. Best birthday I ever had.

That's a far cry from living in a shack (literally) in Florida.

Here's the secret. Buy when everyone is selling. Sell when everyone is buying.

And Happy Veteran's Day.

My friend hiknapster is right on! Both our families traveled the same road and ended up here in Tennessee. We were both from Massachusetts and moved to Lee County, Florida only to find out it was not paradise like the post cards showed. We lived there for twelve years just before the housing bubble burst. We were one of the lucky ones to be able to sell our home and get out. Lee County,Florida is approaching 10% unemployment and the foreclosure capital of the world with no hope of getting any better soon. Tennessee has a very diverse economy and will be able to come out of this economic mess much stronger than places like Florida. I just needed to rant

[Tony1790]

Originally Posted by hiknapster

It seems that I was the queen of doom and gloom a year ago. In the big cities we never had a bubble with employment or housing so how the heck can there be a crash?

You have lots of money in the bank. Pick up the pieces and move to where you think your salary will be better.

That's a far cry from living in a shack (literally) in Florida.

Yeah there is no doom allowed on here As to how can there be a crash, it's not a TN thing, it's a country/world wide real estate crash, Spain/UK/Germany, etc

As to money in the bank, not anymore, I bought some land and a small little place. It's not much but it's paid for and I'm not wasting money on rent! And I'm not moving anywhere anytime soon, the unemployment rate is rising in most places, just not quite as fast as TN, FL is only 6.6% seems like it'd be higher than TN.

The point of this post anyway was wondering how high the unemployment rate will rise in TN, 7.2% is starting to get a little uncomfortable, but not as high as the 11% that is forecast for next year.

Good luck with your house, I remember last year you were going crazy trying to find a house to buy, glad you worked it out!

Tony

[Bones]

Originally Posted by Tony1790

The point of this post anyway was wondering how high the unemployment rate will rise in TN, 7.2% is starting to get a little uncomfortable, but not as high as the 11% that is forecast for next year.

No one has that answer. Same as the housing 2 years ago when they kept saying it was at the bottom - we still haven't hit the bottom...... With companies going under it is just one big snowball effect and 11% might be a conservative estimate....

[hiknapster]

Attention everyone in this thread:

YOU ALL ROCK!

Some days I think that we should just let everything collapse and we can start from scratch. It seems that we set a bad precedent when we bailed out Chrysler. Who knows what would have happened. Maybe a couple of smaller car companies, with better success rates, would have formed.

I think big business has gotten too gosh darn, well, big.

You are in a fine position, Tony, so no worries. Tennessee is a great place to be.

[jabogitlu]

That's what I thought when GMC or whoever it was called for a government bailout. Um, helloooo, aren't we supposed to be the free market-capitalism capital of the world? (Not that I necessarily agree personally...) Seems to me we should let them fall. Someone'll be along to pick up the pieces, and they might even build something halfway energy efficient to boot.

I'm just glad that, for once, being in Appalachia has tangible positive effects. We've been depressed (relatively) for pretty much our entire history, so this isn't feeling like the horrible pinch if we were living in Detroit, Florida, California. Now, I'm not talking about Nashville or Charlotte, that's not Appalachia. But for those of us living in West Virginia, SW VA, East TN, well, things just really haven't changed all that much.

[hiknapster]

Originally Posted by jabogitlu

That's what I thought when GMC or whoever it was called for a government bailout. Um, helloooo, aren't we supposed to be the free market-capitalism capital of the world?

Yep. Socialism for big business. Amazing.