Author Topic: Personal Income Drops Across the Country  (Read 895 times)

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Offline bijou

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Personal Income Drops Across the Country
« on: March 26, 2010, 08:24:18 AM »
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Personal income in 42 states fell in 2009, the Commerce Department said Thursday.


Nevada's 4.8% plunge was the steepest, as construction and tourism industries took a beating. Also hit hard: Wyoming, where incomes fell 3.9%.

Incomes stayed flat in two states and rose in six and the District of Columbia. West Virginia had the best showing with a 2.1% increase. In Maine, Kentucky and Hawaii, increased government benefits, such as unemployment insurance and Social Security, offset drops in earnings and property values. ...
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Offline thundley4

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Re: Personal Income Drops Across the Country
« Reply #1 on: March 26, 2010, 10:14:16 AM »
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Incomes stayed flat in two states and rose in six and the District of Columbia.

Lawmakers got their raises, and many staffers, and other government workers all got raises under Lord Zero, that accounts for part of it.  I just read where lobbyists spent tons of money in 2009, so that may account for another part of it.

Offline NHSparky

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Re: Personal Income Drops Across the Country
« Reply #2 on: March 26, 2010, 03:03:26 PM »
I'll probably make significantly (over 10K) less than I did last year.  But that's just because we're on an 18-month operating cycle and there's no planned refueling outage this year.  Next one is April 2011.

But then again, there's lots of opportunity for OT between now and December, despite Juno's best attempts at "minimizing" it.  Yeah--there's a choice for you--spend the money or don't make any money at all.
“Any man who thinks he can be happy and prosperous by letting the government take care of him better take a closer look at the American Indian.”  -Henry Ford

Offline rich_t

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Re: Personal Income Drops Across the Country
« Reply #3 on: March 27, 2010, 07:52:29 AM »
It's going to get worse.

In my industry, jobs are paying 20-30% (or more) less than what they were 2 years ago in my area.

That is assuming you can find a company that is actually hiring.

In 08 I made about 65K.

I can't even find a job paying 35K in the area right now.  Companies are very leery of hiring.

"The American people will never knowingly adopt socialism. But, under the name of 'liberalism,' they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened." --Norman Thomas, 1944

Offline Javelin

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Re: Personal Income Drops Across the Country
« Reply #4 on: March 27, 2010, 10:27:24 AM »
It's going to get worse.

In my industry, jobs are paying 20-30% (or more) less than what they were 2 years ago in my area.

That is assuming you can find a company that is actually hiring.

In 08 I made about 65K.

I can't even find a job paying 35K in the area right now.  Companies are very leery of hiring.



In my area you would be considered lucky.  The best you can find where I am is part time jobs paying barely over minimum wage, thats it. 

I said screw it and started another company buying gold and silver.  I am still keeping business open on my first business but its so friggin slow employees agree to work on "standby".  In other words I call them if something comes in.  But at least with my new business I have had great success, it just doesnt have the capacity to hire people for they are not needed, at least at this point. The gold and silver gig's ROI was beating my ROI on the markets so I shifted my capitol to go full time in precious metals and I have been very pleased.

Despite the fact I am doing well, there is no way for me to look at my local market and find a place to create jobs.  Its not a matter of fear of the unknown like I have heard some pundits talk about, its simply not there.  I see ways for a business to function and survive but no real profitability. 

I have a friend that works in marketing for a local newspaper.  She tells me that every time their sales people go out they come back in with fewer sales for ads than before.  A huge factor she says is that more are going out of business every day and the ones that were buying before are looking at shutting down altogether.  They cannot afford to advertise when there is no revenue. 

Its really sad.